Beauty supplements refer to nutritional supplements that are designed to enhance physical beauty by supporting hair, skin, and nail health from within. They contain vitamins, minerals, herbs, and other ingredients that are beneficial for beauty. Some key beauty supplements include collagen supplements, keratin supplements, vitamin C supplements, vitamin E supplements, botanical extracts, and other herbal supplements. These supplements help promote healthy skin, hair growth, strengthen nails, reduce signs of aging, and overall youthful appearance.
The global Beauty Supplements Market is estimated to be valued at US$ 2823.15 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global Beauty Supplements Market has been growing rapidly owing to rising consciousness about physical appearance and aging concerns among individuals across the world. People are continuously seeking efficient ways for healthy hair, skin, and nails through supplements that can complement their busy lifestyles. Oral supplements have gained preference over topical products due to advantages like targeting issues from within, convenience of consumption, and all-day effects. Collagen supplements in particular are gaining widespread acceptance for alleviating signs of skin aging like wrinkles, dark spots and strengthening hair and nails. Additionally, supplements containing hyaluronic acid, vitamins C, E and botanical extracts are becoming popular for their antioxidant and anti-aging benefits. The market is experiencing significant gains from increasing spending capacity, expanding e-commerce channels, and proactive marketing by supplement brands.
Market key trends:
One of the key trends in the Beauty Supplements Market Size is the surge in customized supplements. Supplement brands are developing personalized and customized offerings based on an individual’s concerns, lifestyle, dietary habits, genetic makeup and environmental factors. With growing health-consciousness, there is a shift towards supplements made from natural ingredients without artificial colors, preservatives or synthetic compounds. Many brands are leveraging plant-based, herbal, Ayurvedic and traditional medicine principles and ingredients in their supplements. Another notable trend is the increasing availability of beauty supplements aimed at men. Supplements enriched with ingredients like hyaluronic acid, collagen, vitamins and minerals are being popularized for men’s hair, skin and nail health in the form of pills and gummies. This expansion of product lines is enabling greater customer base and market potential.
Porter’s Analysis
Threat of new entrants: Low capital requirements and availability of raw materials pose low threat of new entrants in the market.
Bargaining power of buyers: Large number of buyers and product differentiation results in moderate bargaining power of buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers and input sources.
Threat of new substitutes: Moderate threat due to availability of alternative beauty products in the market.
Competitive rivalry: High due to presence of many domestic and international brands.
Key Takeaways
The global beauty supplements market is expected to witness high growth. The global Beauty Supplements Marketis estimated to be valued at US$ 2823.15 Mn in 2023 and is expected to exhibit a CAGR of 8.8% over the forecast period 2023 to 2030.
Regional analysis shows that North America dominates the global beauty supplements market and is expected to grow at a significant rate over the forecast period. Factors such as increasing health awareness among consumers and rising expenditure on personal care are fueling the growth of the regional market.
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. Armtec Infrastructure Inc. specializes in geosynthetic segment and offers various products such as geogrids and geomembranes. Maccaferri SPA provides solutions for soil reinforcement and slope stabilization.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it