Global Beauty Supplements Market Analysis

The Global Beauty Supplements Market size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Global Beauty Supplements Market Analysis Executive Summary

Beauty supplements are dietary products formulated to enhance the health and appearance of skin, hair, and nails. These supplements typically contain a variety of ingredients, including vitamins, minerals, antioxidants, and collagen, which are believed to support beauty from within. Common components include vitamin C, biotin, and hyaluronic acid, each playing a role in maintaining skin elasticity, promoting hair growth, and strengthening nails. As consumers increasingly seek holistic approaches to beauty, these supplements have gained popularity as a convenient way to supplement nutritional deficiencies that may impact appearance.

Globally, the beauty supplement market is experiencing significant growth. Research indicates that the market is projected to reach approximately $7 billion by 2024, driven by rising consumer awareness of the benefits of nutrition on beauty. In the United States alone, over 50% of adults regularly consume dietary supplements, with a notable portion specifically targeting skin and hair health. The increasing trend towards natural and organic products has also fueled demand for beauty supplements made from plant-based ingredients. However, while the popularity of these products is rising, concerns regarding regulatory oversight and the effectiveness of certain claims persist, highlighting the need for informed consumer choices in this expanding market.  

Global Beauty Supplements Market Dynamics

Market Growth Drivers

The adoption of beauty supplements globally is positively influenced by a growing consumer interest in holistic health and wellness, with many individuals seeking to enhance their beauty from within. Research has shown that consumers are increasingly aware of the benefits of specific nutrients, such as collagen, biotin, and antioxidants, in promoting skin elasticity, hair growth, and nail strength. The rise of social media and influencer culture has also played a significant role in shaping consumer perceptions, as endorsements from trusted figures can drive interest and sales. Studies indicate that consumers are more inclined to invest in products that promise natural and organic ingredients, reflecting a broader trend towards clean beauty. Additionally, the aging population is contributing to the demand for effective anti-aging solutions, further propelling the popularity of beauty supplements as individuals seek ways to maintain youthful appearances. 

Opportunity

The rising demand in natural based beauty supplements is an opportunity for companies to create novel products that can meet this demand and allow them to gain a larger market share. Additionally there is an opportunity for companies in this market to create products that not only help improve beauty but have additional benefits like promoting nail growth, help lengthen hair, and help consumers meet their daily nutritional goals. 

Market Restraints

Several challenges can hinder the widespread adoption of beauty supplements. One significant concern is the lack of robust scientific evidence supporting many claims made by manufacturers regarding the efficacy of these products. Research indicates that while some consumers are enthusiastic about beauty supplements, others remain skeptical due to insufficient clinical trials demonstrating their benefits. Safety concerns also arise regarding potential side effects and interactions with other medications, which can deter individuals from trying these products. Furthermore, the relatively high cost of quality beauty supplements may limit accessibility for some consumers, particularly in lower-income demographics. 

Competitive Landscape for Beauty Supplements Market in Global

Key Players

• Briogeo Inc
• Garden of Life 
• HUM Nutrition Inc
• Nature's Bounty Co, Ltd
• Nature Made Co
• Neocell Inc
• NutriBlast Co, Ltd
• OLLY Co, Ltd
• Persona Nutrition
• Ritual Inc
• Swolverine 
• Thome Co, Ltd

Recent Developments

In January 2023, Ageless Skinstack, a novel set of tailored nutrients created using 3D printing technology was launched by Neutrogena and Nourished.

In November 2020, Nature’s Bounty Co launched “Pure Beauty” a line of beauty supplements which consist of collagen, biotin and hyaluronic acid.

Mergers and Acquisitions

In 2021, HUM Nutrition was acquired by Unilever in order to broaden HUM’s global presence and help it rise in the beauty supplements market. 

Healthcare Policies and Regulatory Landscape for Beauty Supplements Market in Global

Beauty supplements are considered a dietary supplement in most regions, so they must meet the safety requirements, labelling standards and product certifications set out by the various regulatory bodies. However beauty supplements are also considered cosmetic products which at times have less stringent laws. Although laws around dietary supplements and cosmetic products may be similar across continents, they are not identical and this makes launching products simultaneously in different countries difficult.  Additionally all health claims , both dietary and cosmetic, made about beauty supplements must be substantiated by scientific proof in order for companies to get approval to launch their products. As businesses within this market are actively adjusting to accommodate consumer preferences they must adhere to the new regulations that may be set in place in the post-pandemic era.