April 14, 2024
Beauty Supplements Market

The Global Beauty Supplements Market Is Estimated To Driven By Shift Towards Natural And Clean Label Ingredients

The beauty supplements market comprises oral dosage dietary supplements containing vitamins, minerals, botanicals, proteins and other ingredients meant to supplement the diet and promote general health, beauty and wellness. These supplements help in anti-aging, whitening, firming, brightening and improving other beauty concerns from within. Key functional ingredients present in supplements include vitamins A, C, E, B3, B6, B12, D, biotin and collagen which help reduce signs of aging, moisturize skin, strengthen hair and nails. The rising demand for preventive healthcare and natural ingredients is driving increased consumption of beauty supplements.

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 2030.

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. Presto Geosystems Corporation is a leading manufacturer of geosynthetic containment and reinforcement solutions. Key players are focusing on new product launches, partnerships and geographic expansion to consolidate their market position.

The growing demand for preventive healthcare and awareness about internal nutrition is a major factor driving the beauty supplements market. Customers are increasingly realizing that beauty stems from within and supplement products help address various concerns related to hair, skin and nails from the inside. Rapid urbanization and increased spending on personal care supplements specially in emerging Asian and Latin American countries is fueling market growth.

The global Beauty Supplements Market Growth is witnessing strong growth in Asia Pacific and Latin America regions. Counties like India, China, Brazil are seeing rising disposable incomes, growing middle class and adoption of western beauty practices. Additionally, lenient regulations have encouraged multiple new entrants offering affordable and result oriented supplements. Manufactures are expanding their manufacturing and distribution networks in these high potential regions to tap immense opportunities.

Market key trends
One of the key trends witnessed in the beauty supplements market is the shift towards natural and clean label ingredients. Customers are increasingly demanding supplements containing natural extracts, herbs and plant based nutrients avoiding artificial colors, flavors and preservatives. This has prompted companies to emphasize on organic, non-GMO, vegan and gluten free formulations. Another notable trend is the customization of products according to consumer needs like anti-aging, skin lightening, hair growth etc and availability in form of gummies, softgels for enhanced consumer experience.

Porter’s Analysis
Threat of new entrants: New players will have barriers to enter this developing market as it requires high capital for infrastructure and R&D.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes in this market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of alternative suppliers in the market.

Threat of new substitutes: Substitutes from alternative supplements are available but they cannot provide full nutrients required by the body.

Competitive rivalry: High as companies compete on quality, price and innovation.

Geographical Regions
North America accounts for the largest share of the beauty supplements market in terms of value owing to high nutritional and beauty supplements adoption.

Asia Pacific region is expected to grow at the fastest pace during the forecast period due to rising disposable income, awareness about beauty supplements and westernization. Countries like China, India and Japan are major revenue generators in this region.

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