by The global beauty supplements market involves the sale of beauty supplements which provide nutrients such as vitamins, minerals, proteins, and other ingredients to improve health, prevent disease, or slow the aging process. Beauty supplements include tablets, capsules, powder, liquids, and other forms that contain antioxidants, iron, omega-3 fatty acids, collagen, and other ingredients. These supplements improve skin, hair & nail texture, reduce blemishes & dark spots, promote hair growth, and improve overall appearance.
The global beauty supplements market is estimated to be valued at US$ 3252.27 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the beauty supplements market are Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd. These key players are focusing on developing innovative products and using strong branding and marketing strategies to strengthen their market position.
The Global Beauty Supplements Market Growth offers significant opportunities such as new product launches, rising focus on online sales channels, increasing demand from developing countries. The major players are launching new supplements enriched with additional nutrients to cater to the increasing demand. Increasing internet and smartphone penetration in developing countries is creating new opportunities for online sales of beauty supplements.
There is growing demand for beauty supplements across the world owing to increasing beauty consciousness among the populace worldwide. The rising working population and changing lifestyles especially in developing regions are facilitating the global expansion of the beauty supplements market. Asia Pacific region offers immense growth opportunities attributable to rising living standards, increasing discretionary spending on personal care products.
Market Drivers
Increasing focus on personal care and appearance among both men and women is one of the key drivers for the beauty supplements market. Long working hours, changing lifestyles, pollution are taking a toll on health and appearance which is prompting many to look for supplementary nutrients. Widespread promotion and marketing of beauty supplements as products that prevent premature aging, treat skin conditions, and maintain overall health and wellness have also fueled the demand in recent years. Growing health consciousness and willingness to spend on beauty products for improved confidence and self-esteem further aid the growth of the beauty supplements industry.
PEST Analysis
Political: The regulations regarding the addition of ingredients in beauty supplements differs across countries and regions. Some countries have stricter norms about approving new ingredients than others.
Economic: Changing lifestyles and rising incomes have boosted discretionary spending on personal care and beauty products. Consumers are willing to spend more on products that can enhance looks and promote overall well-being.
Social: Greater emphasis on appearances and visual messaging on social media platforms have made people more conscious about their looks. There is increased social acceptance of using dietary supplements and pills to complement beauty routines.
Technological: Digital platforms aid discovery of new brands and products. Supplement producers leverage apps and websites to showcase product benefits and consumer testimonials. E-commerce has simplified purchase journeys for time-pressed demographics.
Geographical Concentration
The North American beauty supplements market accounts for the largest share in terms of value currently.countries like the United States and Canada have well-developed retail chains and e-commerce platforms that ensure easy access to a wide variety of brands catering to different attributes like hair, skin and nail care. Changing consumer habits and growing health and wellness trend in the region are propelling current market leadership.
Fastest Growing Region
The Asia Pacific region is poised to see the fastest growth in the beauty supplements industry over the forecast period.Countries like China, Japan, South Korea and India have huge population bases and rising expendable incomes are driving heavier spending on personal care and appearance enhancement products. Increasing importance given to looks coupled with growing health awareness makes APAC an attractive market for supplements producers. Widespread promotion on digital media and strong retail penetration will support market expansion
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
