Global Beauty Supplements Market Is Estimated To Witness High Growth Owing To Growing Demand for Natural Beauty Products

Beauty Supplements Market

The global beauty supplements market is estimated to be valued at US$2,674.7 million in 2022 and is expected to exhibit a CAGR of 5.55% over the forecast period 2023-2030, according to a new report published by Coherent Market Insights.

A) Market Overview:

Beauty supplements are dietary supplements that contain nutrients and other active ingredients aimed at improving skin health, hair growth, and overall appearance. These supplements are gaining popularity due to the increasing demand for natural beauty products and the growing awareness about the importance of beauty from within. Beauty supplements offer several advantages, including skin rejuvenation, increased collagen production, improved hair and nail health, and overall wellness.

B) Market Key Trends:

One key trend in the beauty supplements market is the growing demand for natural and organic beauty products. Consumers are becoming more conscious about the ingredients they put on their bodies and are opting for products that are free from harmful chemicals. This has led to an increased demand for beauty supplements made from natural and organic ingredients. For example, brands like HUM Nutrition and Vitabiotics offer beauty supplements made from plant-based ingredients to cater to this demand.

C) PEST Analysis:

- Political: Governments across various countries have implemented stringent regulations and standards for beauty and cosmetic products to ensure consumer safety.

- Economic: The beauty supplements market has witnessed significant growth due to the increasing disposable income of consumers, especially in emerging economies.

- Social: The rising beauty consciousness among individuals and the influence of social media platforms in promoting beauty trends have fueled the demand for beauty supplements.

- Technological: Advancements in technology have led to the development of innovative formulations and delivery systems for beauty supplements, such as gummies and powders.

D) Key Takeaways:

- The global beauty supplements market is expected to witness high growth, exhibiting a CAGR of 5.55% over the forecast period, due to the increasing demand for natural beauty products.

- Regionally, North America is expected to dominate the market, followed by Europe and Asia Pacific. The North American market is driven by the presence of key players and a well-established beauty industry.

- Key players operating in the global beauty supplements market include Amway, Asahi Group Holdings, HUM Nutrition, Pfizer Inc., Meiji Holdings Co., Ltd., and others. These players focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market presence.

In conclusion, the global beauty supplements market is poised for significant growth in the coming years. The increasing demand for natural and organic beauty products, coupled with the rising beauty consciousness among consumers, will drive the market. Governments' focus on ensuring safety standards and advancements in technology will further contribute to market growth. Key players in the market are continuously striving to innovate and expand their product portfolios to cater to the evolving consumer preferences.