The global Beauty Supplements Market was valued at US$ 2,674.7 million in 2022, according to Beauty Supplements Market Report, by Form (Tablets, Capsules, Powder, Oils, and Others), by Application (Skin Care, Hair Care, Nail Care, and Others), by Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Online Stores, Medical Stores/Pharmacy, and Others), and by Region (North America, Latin America, Asia Pacific, Europe and Middle East & Africa)
The global beauty supplements market is expected to reach US$ 4,120.1 million by 2030, exhibiting a CAGR of 5.55% over the forecast period. Increasing awareness about health benefits of beauty supplements is driving growth of the beauty supplements market. More women are focusing on obtaining healthy skin, hair, nails, and others. Therefore, growing need to prevent premature skin aging, and preferences for effective and safe beauty solutions are expected to drive growth of the beauty supplements market. For instance, according to a study by the supplement trade group of the Council for Responsible Nutrition, 31% of female respondents in the age group of 18 to 34 were taking supplements for skin, hair, and nails in 2017. Increasing demand for nutraceutical ingredients, which are commonly used in beauty supplements, is driving growth of the beauty supplements market. According to the analysis, the U.S. nutraceutical ingredients market was valued at US$ 5.83 billion in 2016, and is projected to increase to US$ 10.70 billion by 2025, witnessing a CAGR of 7.42% over the forecast period (2023-2030).
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Browse 107 market data tables* and 33 figures* on "Beauty Supplements Market” - Global forecast to 2030.
Key Trends and Analysis of the Beauty Supplements Market:
- Rising demand for collagen products is one of the key factors facilitating growth of the beauty supplements market. Collagen supplements help in strengthening skin and improve skin hydration, and elasticity. Moreover, collagen supplements help to slow down aging by reducing skin dryness and wrinkles. Increasing number of collagen containing beauty supplements are introduced in the market to cater to rising demand for anti-aging products. For instance, in June 2018, Hum Nutrition launched the Collagen Pop's tablets containing marine collagen peptides and vitamin C.
Key Takeaways of the Market:
- In 2022, Asia Pacific held the largest market share of 40% in the global beauty supplements market. Japan is the largest market in Asia Pacific for beauty supplements, accounting for 33.4% share in 2018, closely followed by China and India. China and India are the fastest growing markets in Asia Pacific, owing to rising demand for beauty supplements among men. According to the Hong Kong Trade Development Council, the global men’s beauty/grooming industry was valued at US$ 21.4 billion in 2016, and is expected to reach US$ 60 billion by 2020.
- Market players in the Asia Pacific are focusing on product launches to expand their consumer base in the region. For instance, in August 2019, Asahi Group Holdings Inc. launched two new beauty supplement products, Dear-Natura Style Placenta x Collagen and Dear-Natura Style Iron x Collagen.
- Europe is expected to witness significant growth in the global beauty supplements market owing to rising aesthetic awareness among the populace and higher disposable income in the region. According to the Organization for Economic Co-operation and Development (OECD), the average household and net-adjusted disposable income per capita in Germany is US$ 34,297 annually. In Germany, the average disposable income of Germany is higher compared to the average disposable income of OECD countries within Europe such as France, the Netherlands, others, which is valued at US$ 33,604 per year.
- Major players operating in the global beauty supplements market include Amway, Asahi Group Holdings, Ltd., HUM Nutrition Inc., Pfizer Inc., Meiji Holdings Co., Ltd., Everest NeoCell LLC., Reserveage Nutrition, Vitabiotics Ltd., The Boots Company PLC, Murad Europe Ltd, and others.