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New report: Global beauty supplements market forecast, 2016-2024

Beauty supplements are rich in vitamins, minerals and bioactive ingredients, which enhance the external outlook and appearance.

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SUMMARY

WiseGuyReports published new report, titled “Global Beauty Supplements Market Outlook”.

Market Overview 

Beauty supplements are used to enhance and improve any kind of nutrient deficiency in human body, in form of pills, capsules, powdered or liquid form. 

Beauty supplement market is one of the major segments of health and dietary supplement which is majorly driven by the rising beauty and health concerns among consumers globally.

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Various products and supplements are launched frequently to attract new consumer base. Lycopene, is a powerful carotenoid extracted from tomatoes, is currently the most popular ingredients for beauty supplements.

Inneov, is a leading brand of beauty supplements for skin and hair, made by the collaboration between Nestle and L'Oreal, that include lycopene as a key ingredient. In past few years, beauty supplements market has witnessed emergence of new companies and products that led the market growth escalating at significant pace.

Moreover, major players are investing huge on developments of new product to enjoy huge profits in flourishing market. Unilever Ventures, recently invested in Nutrafol, a natural hair supplement developed by the team of top dermatologists and hairstyling stars.

The product is formulated with nutraceuticals such as palmetto, which is clinically proven to show hair regrowth. 

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Market Segmentation 

  • By Applications 

o Skin Care 
o Hair Care 
o Nail Care 
o Other 

  • By Supplement Forms 

o Tablets 
o Capsules 
o Liquid 
o Powder 
o Oils 
o Other (Soft Gels.) 


  • Distribution Channels 

o Online 
o Offline (Beauty Specialty Stores, Supermarkets.) 


Growth Drivers and Challenges 

Changing lifestyles and rising health awareness among consumers led to the growth in sales and usage of supplements among consumers. Skin care supplements accounted for the largest market share of more than 35% of the total global beauty supplements market.

The popularity of beauty supplements among both male and female consumers has impacted the global beauty supplements market positively. With the large consumer base looking to up their commitment to beauty from the inside out, the global beauty supplements market is an area filled with opportunities.

Natural beauty supplement market is gaining huge traction owing to rising preference for organic and natural ingredients. In U.S. and Europe more than 80% consumers are willing to pay more for natural or organic food beverages.

Organic or natural beauty supplements market has moved from the niche to mainstream market and emerged as a marketing driving machine. Moreover, rising consciousness among people about their looks and appearance is likely to impel the growth of beauty supplements market.

Furthermore, influence of celebrities, magazines and advertisements is also expected to bolster the demand for beauty supplement market. 

Market Size and Forecast

Global beauty supplements market accounted for USD 3.5 Billion in 2016 and the market is expected to reach USD 6.8 Billion by the end of 2024. Further, the market is anticipated to expand at a compound annual growth rate of 8.6% over the forecast period i.e.

2016-2024. 
Geographically, Asia-Pacific accounted for the highest share in global beauty supplements market and is expected to dominate the market over the forecast period. Japan is the largest market in Asia for beauty supplements closely followed by China and Korea which is fastest growing in Asia owing to rising interest of male population towards beauty supplements.

Asia-Pacific is closely followed by Europe with more than 25% share in global beauty supplements market. Western European countries such as France, Germany and U.K among others accounted for major revenue share of more than 20% in global beauty supplements market.

Europe beauty supplements market is majorly driven by the rising consumer concerns towards their health and their beauty appearance. Europe is closely followed by the North America owing to high disposable income and rising endorsement by celebrities. 

Key Market Players 

  • Amway 
    o Synopsis 
    o Business Strategy 
    o Product Portfolio 
    o SWOT Analysis 
    • The Boots Company 
    • Murad U.K Ltd. 
    • BeautyScoop 
    • Life2good Inc. 
    • Neocell Corporation 
    • HUM Nutrition Corporation 
    • Meiji Holdings Co., Ltd 
    • Reserveage Nutrition, Llc 
    • Vemedia 
    • Vitabiotics Ltd 
    • Imedeen (Pfizer Inc.) 


Market Segmentation 

Global beauty supplements market is segmented as follows: 
• By Application Type (Market Size, Demand Analysis and Growth Analysis) 
• By Supplement Forms Type (Market Size, Demand Analysis and Growth Analysis) 
• By Distribution Channels Type (Market Size, Demand Analysis and Growth Analysis) 

 

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