Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Nov 7, 2022--
The "Global Beauty Supplements Market: Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Supplements are usually taken in the form of pills, capsules, powder, and liquid or in soft gel form. Beauty supplements are utilized to enhance and support any kind of insufficiency in human body. Generally, beauty supplements are combination of minerals, vitamins, nutrition, protein and other bioactive ingredients, which help in improving the external appearances of human body.
The global beauty supplements market accounted for US$ 4,860.42 million in 2021 and is expected to reach US$ 10,999.96 million by 2030, expanding at a CAGR of 4.5% from 2022 to 2030.
Growing awareness about health benefits associated with beauty supplements is likely to propel the market in upcoming years
The global beauty supplements market is segmented based on applications into skin care, hair care, nail care, dental care and others (overall health supplements). Changing lifestyle, increasing consumer incomes leading to growth in consumption of supplements and other related factors are boosting worldwide sales of supplements. Among the aforementioned segments, skin care supplements is anticipated to dominate the market in terms of revenue; in 2020, skin care segment accounted for the largest share over 30% of the total beauty supplements market by value. Hair care and nail care segment are anticipated to record robust growth during the forecast period. Increasing usage coupled with high emphasis on hair wellbeing and hair health among women population attributed to growth of the hair care segment.
Increasing penetration of ecommerce in developed as well as developing countries is driving the demand of beauty supplements via online sales channel
Among the considered segments, pharmacy stores expected to dominate the market in terms of revenue contribution, followed by beauty outlets and supermarkets/hypermarkets. In addition, pharmacy stores segment expected to record significant CAGR during the forecast period. Online store segment anticipated to record the highest CAGR during the forecast period. This attributed to increasing consumer inclination for ease of use and manufacturers' focus on online retailing intended to offer product variety along with benefits of in-store shopping to consumers.
Europe dominated the global beauty supplements market and expected to maintain its pole position in upcoming years
In base year 2020, Europe was observed as the largest market for beauty supplements. In 2020, the total market for Europe was more than 30% and expected to maintain its dominance in forecast period from 2022 to 2030. Western European countries are major contributor to global beauty supplements market and expected to stimulus the market owing to rising apprehensions of people towards their appearance and external outlook along with higher disposable income possessed by the consumers.
Asia Pacific expected to register the highest growth rate when compared to other regions because of the presence of developing countries such as China & India. Japan expected to be the most prominent contributor in terms of revenue followed by China and India with market a collective market share of 36% in 2020 in Asia Pacific region.
Leading brands are aggressively investing in research & development
The beauty supplements market is highly fragmented owing to the presence of various large and small companies. Small companies provide handful of products; on the other hand, major players undertake extensive R&D programs to standardize their products. In this market, vendors compete in terms of product differentiation, price, promotion and distribution. The competition in the market projected to intensify with an increase in consumer awareness and product innovations among others. Leading manufacturers are continuously investing in research & development in order to develop new and innovative products.
Market Segmentation
Product
Distribution Channel
Key Topics Covered:
1. Preface
2. Executive Summary
3. Beauty Supplements Market: Business Outlook & Market Dynamics
4. Beauty Supplements Market: by Product, 2020-2030, USD (Million)
5. Beauty Supplements Market: by Distribution Channel, 2020-2030, USD (Million)
6. North America Beauty Supplements Market, 2020-2030, USD (Million)
7. UK and European Union Beauty Supplements Market, 2020-2030, USD (Million)
8. Asia Pacific Beauty Supplements Market, 2020-2030, USD (Million)
9. Latin America Beauty Supplements Market, 2020-2030, USD (Million)
10. Middle East and Africa Beauty Supplements Market, 2020-2030, USD (Million)
11. Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/dj76v5
View source version on businesswire.com:https://www.businesswire.com/news/home/20221107005728/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: COSMETICS RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/07/2022 09:18 AM/DISC: 11/07/2022 09:18 AM
http://www.businesswire.com/news/home/20221107005728/en