SEATTLE--(BUSINESS WIRE)--The global beauty supplements market was valued at US$ 2,451.2 million in 2018, and is expected to exhibit a CAGR of 4.8% over the forecast period (2019–2027).
Key Trends and Analysis of the Beauty Supplements Market:
Personalization of beauty supplements by considering factors such as age, skin conditions such as acne and eczema, is a key factor propelling the market growth. Players operating in the beauty supplements market are adopting strategies to offer personalized supplements to their consumers. For instance, in September 2019, Vitamin Shoppe launched a personalized subscription service, Only Me, to provide custom solutions that meet unique health and wellness demands of customers.
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Key Market Takeaways:
- The global beauty supplement market is expected to exhibit a CAGR of 4.8% over the forecast period (2019–2027), owing to increasing awareness about health benefits of beauty supplements, coupled with increasing demand for organic and natural products
- On the basis of form, the capsules segment accounted for the largest market revenue share of 36.4% in the global beauty supplements market in 2018. The exterior of the capsule is made from gelatin or starch, which contains an active ingredient. Capsules also allow extended release of the active ingredient. The capsule is encapsulated in such a way that it dissolves over an extended period of time and does not deliver the supplement all at once.
- Among applications, the hair care segment accounted for significant market growth in terms of value in 2018. Hair care beauty supplements contain biotin, vitamin C, borage oil, and others. Moreover, this segment is gaining traction owing to the flourishing cosmetic industry, and increasing awareness about use of cosmetic products. For instance, according to the Cosmetic Toiletry & Perfumery Association 2017 report, the cosmetics industry in the U.K. was valued at US$ 12.30 billion in 2017, of which 17.5% was attributed to the hair care industry. Moreover, the hair care segment held the second largest revenue share of 34.3% in 2018, which is expected to reach 34.6% by 2027, globally.
- Manufacturing, labelling, and marketing of beauty supplements are governed by stringent regulations. For instance, Novel Foods Regulation 2015/2283, and its implementing regulations 2017/2468, regulate manufacturing of beauty supplements, and ingredients used in beauty supplements in the Europe.
- Among distribution channel, the hypermarket/supermarket segment is expected to hold significant market share in the global beauty supplement market over the forecast period. Hypermarkets/supermarkets are a combination of discount and departmental stores, which results in bulk availability of different products in one place. Hypermarkets/supermarkets attract customers by offering discounts on a variety of beauty supplement brands.
- Furthermore, hypermarket/supermarket customers are primarily local residents and small businesses that periodically need to replenish their stock of household products. Hypermarkets/supermarkets have a dedicated consumer base, owing to their convenient services and attractive offers.
- Rising influence of social media and advertisements of beauty supplements by retailers on different social media platforms are expected to increase consumption of beauty supplements. For instance, in 2014, HUM Nutrition, a manufacturer of beauty supplements, started promoting its products on Instagram.
- Major players operating in the global beauty supplements market include Amway, Asahi Group Holdings, Ltd., Pfizer Inc., Meiji Holdings Co., Ltd., Everest NeoCell LLC., Reserveage Nutrition, Vitabiotics Ltd., Murad Europe Ltd, and others.
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Global Beauty supplements Market, By Form:
Global Beauty Supplements Market, By Application:
- Skin Care
- Hair Care
- Nail Care
Global Beauty Supplements Market, By Distribution Channel:
- Specialty Stores
- Online Stores
- Medical Stores/Pharmacy
Global Beauty Supplements Market, By Region:
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Middle East
- North America
- Company Profiles