June 18, 2024
Testosterone Booster Market

The Testosterone Booster Market Is Driven By Growing Health Awareness Among The Male Population Globally

Testosterone boosters help in increasing testosterone levels in males naturally. They are dietary supplements which help in boosting low testosterone levels without any side effects like testosterone replacement therapy. Testosterone is an important hormone for males as it helps in building muscle mass, bone density, sex drive, energy levels, and well-being. However, levels of testosterone start declining gradually after 30 years of age. Low testosterone levels can cause weight gain, fatigue, depression, loss of muscle mass and other issues. Due to growing health consciousness today, many men are opting for testosterone boosters to maintain optimum testosterone levels.

The global Testosterone Booster Market is estimated to be valued at US$ 371.89 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Adoption of herbal testosterone boosters is the key trend seen in the market. Herbal testosterone boosters are gaining popularity as they have fewer side effects unlike testosterone replacement therapy which involves risks of hormone imbalance and other issues. Herbal ingredients like fenugreek, panax ginseng, tribulus terrestris, ashwagandha, and maca are some of the key ingredients used in herbal testosterone boosters. Manufacturers are focusing on developing innovative herbal formulations to boost testosterone levels safely and effectively. They are also targeting the expanding male geriatric demographic through effective marketing strategies highlighting the benefits of their herbal products. This is driving the demand for herbal testosterone boosters globally.

Porter’s Analysis

Threat of new entrants: The threat is moderate as the market has few key players and requires large investments and economies of scale for R&D in new product development.

Bargaining power of buyers: The bargaining power is moderate as buyers have variety of options available but are highly dependent on the availability and efficacy of testosterone boosters.

Bargaining power of suppliers: The bargaining power is low as suppliers require specialized raw materials and technologies which pose high switching costs for buyers.

Threat of new substitutes: The threat is moderate as alternate supplements provide limited effectiveness compared to testosterone boosters.

Competitive rivalry: The competition is high among key players to launch innovative products and build brand recognition through marketing strategies.

Key Takeaways

The Global Testosterone Booster Market Demand is expected to witness high growth. The global Testosterone Booster Market is estimated to be valued at US$ 371.89 Mn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024-2031.

North America dominates the market currently due to growing health awareness and easy availability of supplements. The male population in the region is also increasingly using testosterone boosters to boost performance and tackle issues like low libido. North America in terms of market share. Factors such growth in sports nutrition sector and focus on active lifestyles are driving the market in the region. However, Asia Pacific is expected to be the fastest growing market during the forecast period owing to rising living standards, increase in disposable incomes, and growing health consciousness.

Key players operating in the testosterone booster market are Celanese Corporation, Eastman Chemical, Solutia, INEOS Group Limited, Rhodia Brasil, Showa Denko, Shanghai Wujing Chemical, Sasol Limited, Jiangmen Handsome, and Sekab. These companies are focusing on new product launches, partnerships, and expansion strategies to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it