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The Growing Beauty Supplements Industry Owing to Increased Focus on Health and Wellness

The Growing Beauty Supplements Industry Owing to Increased Focus on Health and Wellness

The beauty supplements industry has witnessed significant growth in recent years owing to increased focus on health and wellness, augmented by ageing population seeking anti-aging solutions and changing lifestyles. Beauty supplements contain minerals, vitamins, nutrients, and herbal extracts that claim to improve hair, skin, and nail health from within. Key products include dietary supplements for skin, hair, nail, memory, anti-ageing, weight-loss as well as other general wellness supplements. With rising income level and exposure to Western beauty trends, Asia-Pacific region has also emerged as a fast adopter to supplements based skincare and wellness products.

The Global beauty supplements market is estimated to be valued at US$ 3,252.27 Billion 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.

The growing demand for anti-aging solutions is driving huge market potential for beauty supplements globally. Increasing aging population actively seeking natural anti-aging ingredients is a major growth driver.

Technological advancements have allowed formulating beauty supplements with herbal extracts, vitamins and other ingredients that are more absorbable and effective. This is boosting customer confidence and generating greater demand.

Market Trends

Increasing demand for customized beauty supplements - Manufacturers are catering to personalized needs by allowing customers to choose ingredients, dosages and supplement combinations as per their specific health and beauty goals.

Rising focus on clean label and organic ingredients - Consumers are increasingly preferring supplements with organic, virgin, whole-food sources of nutrients with no artificial additives. This is prompting brands to shift focus to clean, natural ingredients.

Market Opportunities

Male grooming market offers significant opportunities as more men are adopting natural skin, hair and wellness supplements

E-commerce sales of Beauty Supplements Market Growth are rising globally creating lucrative prospects for digital marketing and tailored daily-usage subscription models.

Impact of COVID-19 on Beauty Supplements Market growth

The outbreak of the COVID-19 pandemic has adversely impacted the global beauty supplements market. The implementation of lockdowns and social distancing norms globally led to closure of retail stores, health and beauty stores. This hampered the sales of beauty supplements significantly during the initial months of the pandemic. The confined lifestyle and increasing health concerns also reduced the focus on beauty and aesthetics temporarily. However, with growing awareness about health and immunity, the demand for beauty supplements containing vitamins, minerals and other nutrients saw an uptick. The emphasis shifted from external to internal beauty and supplements providing anti-ageing benefits gained traction. Online sales of beauty supplements also picked up as people opted for e-commerce platforms for shopping essential products.

As restrictions are being gradually lifted, the retail sector is recovering. This will further aid the revival of beauty supplements market. Key players are launching more safe and clinically tested products enriched with ingredients boosting health from within like turmeric, aloe vera, etc. Moreover, growing health consciousness among the youth regarding nutritional gaps and preventive healthcare is expected to drive consistent growth of the market in the coming years. Manufacturers are expected to focus on product innovation, quality and research to capitalize on emerging opportunities.

Europe and Asia Pacific regions have maximum concentration of Beauty Supplements market in terms of value.

Europe accounted for the largest share of over 35% of the global beauty supplements market in 2024 due major demand from countries like Germany, UK, France, Italy etc. High disposable income, growing health awareness and influence of western beauty trends have increased the popularity of beauty supplements in the region. Asia Pacific is emerging as the fastest growing market for beauty supplements majorly driven by China and India. Rising middle class population, improved spending capacity and greater awareness about internal and external beauty is driving the market growth in the region. Countries like Japan, South Korea are also contributing substantially to market development in Asia Pacific.

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