Beauty Supplements Market

Global Beauty Supplements Market Size (2024 to 2029)

The global beauty supplements market is anticipated to be valued at USD 3.21 billion in 2024 and USD 4.34 billion by 2029, growing at a CAGR of 6.2% during the forecast period.

Beauty supplements are capsules, powders, gummies, or liquids containing essential antioxidants, vitamins, and amino acids that work on skin and hair health, like vitamins A, C, and collagen. These ingredients are also available in topical products, but their consumption is expected to enhance the natural antioxidant power of the body. According to specific research, high-quality beauty supplements are expected to impact the skin positively. Beauty supplements for skin care are focused on providing nutrients to the skin, which a regular healthy diet should not replace, as beauty supplements do not provide a complete range of nutrition required by the body. 

Global Beauty Supplements Market Drivers:

The growing concerns of people, especially women, on beauty are influencing adults to seek beauty supplements that improve skin health. The growing demand for beauty supplements by middle-aged and older people as beauty concerns start to age the appearance of wrinkles and fine lines on the skin and face. The increasing consumption of dietary supplements fuels the global adoption of beauty supplements. All these factors are significant contributors to the growth of the global beauty supplements market. The increasing influence of social media, celebrities, and influencers on people regarding beauty and reach options is adding fuel to the global beauty supplements market revenue. The increasing promotion of beauty products, magazines, and advertisements increases people's interest in beauty supplements by increasing their adoption in their daily lives. There is an increasing trend of using healthy supplements rather than chemically induced products to increase skin benefits. This market trend is increasing the adoption of beauty supplements among people, boosting the global market expansion. People are interested in beauty and wellness, so consumers seek supplements that maintain regular health. Consumers are highly focused on improving skin and hair health by consuming supplements due to their focus on beauty and wellness. 

The increasing trend of collaborations and endorsements by celebrities with the beauty supplements market players is impacting consumers' choices and moving towards the expansion of the global market. The increasing government support for cosmetology is gaining traction among consumers and supporting industries to introduce efficient products into the market by raising the global market revenue.

The increasing focus of the market players on male grooming cosmetics, which is rising the adoption of beauty supplements by males, is estimated to provide market growth opportunities during the forecast period. The growing R&D activities by the market players to introduce combination supplements with novel innovations and new beauty supplement formulae are all increasing the opportunities for market expansion in the upcoming years. The growing focus of manufacturing companies on providing personalized and customized products that meet consumer requirements will enhance the market players in gaining a consumer base by achieving health and wellness. These types of initiatives by the market players are projected to create the lucrative growth of beauty supplements during the forecast period. 

Global Beauty Supplements Market Restraints:

The factors restraining the adoption of beauty supplements are the high costs of the products and the need for awareness among a wide range of consumers in developing regions. The supplements' expensive costs may limit the products' availability to consumers. The competition from the natural and organic substances in the topical products is expected to hamper the adoption of beauty supplements. The rise of safety and quality issues with the substances, the regulatory approvals, and the negative impacts on customers are all expected to restrain the adoption of beauty supplements globally. There needs to be sufficient evidence to support the effectiveness of beauty supplements in skin and hair health, which is expected to limit the global market expansion.

The significant challenge the manufacturers face is the difficulties in labeling regulations. The product labels should be accurate, especially in health claims where a simple mistake leads to disasters. Another challenging factor is the presence of alternatives; the competition from other topical beauty products significantly impacts the expansion of the beauty supplements market. Most chances of adulteration in the products and fake products are challenges for the global market expansion as people prefer those products due to low prices.

Impact of Covid-19 on the Beauty Supplements Market:

The Pandemic had a mixed impact on the global beauty supplements market revenue. The first half of the Pandemic was challenging due to the stringent lockdown regulations, which led to disruptions in the supply chain and delays in production and distribution. However, the ease of regulations led to increased demand for supplements globally and is expected to continue the level of demand in the forecast period. The increased adoption of digital platforms during COVID-19 to avoid the spread of infection enhanced the sales of beauty supplements worldwide. 

REPORT COVERAGE:

This research report on the global beauty supplements market has been segmented and sub-segmented based on form, application, distribution channel and region.

Global Beauty Supplements Market - By Form:

• Tablets
• Capsules
• Powder
• Oil
• Others

The tablets segment dominated the global beauty supplements market with a prominent market share and is estimated to dominate during the forecast period. The tablets consist of nutrients, and excipients bind the materials and form a tablet. Tablets have a high shelf-life and are easier to store, which can be easily used as supplements and are highly preferred by consumers, which is driving the segment growth. The segment growth is expected to influence the global market growth during the forecast period. 

The capsules and the powder segments are estimated to have steady prominent growth during the forecast period due to similar advantages of the tablets based on the composition of ingredients present. 

Global Beauty Supplements Market - By Application:

• Skincare
• Hair care
• Nail care
• Others

The skin care segment dominated the global beauty supplements market revenue with significant market share and is expected to maintain the domination in the forecast period due to growing demand for healthy and beautiful skin worldwide There is growing awareness among people regarding the skin benefits of consuming beauty supplements. People are seeking chemical-free, organic ingredients for developing healthy skin rather than chemical topical products, which is driving segment growth and enhancing global market revenue. 

The hair care segment is estimated to have prominent growth during the forecast period due to rising awareness regarding maintaining healthy hair. The growing adoption of a sedentary lifestyle and an unbalanced diet are enhancing the number of people experiencing hair problems, which is raising the demand for hair care supplements. 

Global Beauty Supplements Market - By Distribution Channel:

• Hypermarkets/Supermarkets
• Speciality Stores
• Online Stores
• Medical Stores/Pharmacy
• Others

The hypermarkets/supermarkets segment held the largest share of the global market due to the wide adoption of people. Hypermarkets are held with different varieties of products with different compositions, which helps people choose what is required based on their interests. 

The online stores segment is projected to grow significantly during the forecast period due to the growing adoption of digital platforms worldwide. Online stores are gaining traction due to the offers, discounts, easy payment options, and door delivery, which are attracting people to adopt these online services. 

Global Beauty Supplements Market - By Region:

• North America
• Europe
• Asia Pacific 
• Latin America
• Middle East and Africa

The Asia Pacific region dominated the global beauty supplements market revenue with a market share of around 40% in 2023. The growing awareness among people, especially women, regarding skin and hair health is driving the regional market growth. The presence of various significant market players and the product approvals expanding the product portfolio are all factors propelling the growth of the global market. Japan's beauty supplements market is expected to witness significant growth in the upcoming years due to rising demand for incorporating natural and functional ingredients and the growing trend of preventive care. 

The North American region is estimated to have the fastest growth during the forecast period due to the presence of prominent manufacturers of beauty supplements. The increasing disposable incomes of the people, influencing them to invest in beauty care, are gaining traction among consumers, boosting the region's global market expansion. The primary factor expanding the beauty supplements market in the U.S. is e-commerce, where people are highly adapted to digital technology. 

KEY MARKET PLAYERS:

Nature's Bounty Co., Ltd., HUM Nutrition Inc., Swisse Wellness PTY Ltd., Wolverine, Persona Nutrition, Nature Made Co., Pure Encapsulations, Neocell Inc., Nutrafol Inc., NutraBlast Co., Ltd. are some of the key market players in the beauty supplements market.

RECENT MARKET DEVELOPMENTS:

• In 2023, Nourished and Neutrogena launched a new product, Ageless Skinstack, a newly incorporated nutrient made by 3D printing technology. These supplements are expected to enhance skin health by delivering specific nutrients the person requires.  
• In 2021, Unilever acquired HUM Nutrition, a multinational consumer products company, and this acquisition is expected to fuel HUM Nutrition in expanding its market worldwide and rising in the beauty supplements market.