Market Research Report
Beauty supplements are products which are used to improve, enhance and offer support to any kind of deficiency in the human body. They are generally offered to the consumers in the form of pills, capsules, soft gels or in powdered or liquid form. Beauty supplements are the combination of minerals, vitamins, nutritional ingredients, and other bioactive ingredients, which help in enhancing one’s external outlook and appearance. The global beauty supplements market is growing at a fast pace and is anticipated to attain significant market size over the next few years. The global beauty supplements market is estimated and forecasted in terms of revenue (USD million) generated by the global market.
The global beauty supplements market is forecast to grow at a CAGR between 6.5% to 7.5% during the forecast period 2019 to 2024. Beauty supplements market is primarily driven by rising concern of consumers for their external outlook and appearance and self-obsession for looking younger. In addition, the popularity of beauty supplements amongst females and males has also impacted the global beauty supplements market in a positive way. However, factors hindering the market growth of beauty supplements includes, less awareness among the consumer regarding its availability, usage and consumption, soaring prices of these products and less inclination of consumers in emerging regions. Further, the increasing awareness among the customers related to side effects of beauty supplement products is hampering the market growth. One of the major trends which will influenced the beauty supplements market during the forecast period is the significant shift of consumers towards natural and organic beauty supplements.
The report analyses the global beauty supplements market based on application, distribution channel and geography. Based on application, the market is segmented into hair care, skin care, nail care, dental care and others. The skin care segment dominated the global beauty supplements market and accounted for more than 30% share of the total market in 2017, followed by the hair care segment. The anticipated market growth can be attributed to rising skin and hair related problems globally.
Based on distribution channel, the global beauty supplements market is categorized into supermarkets/hypermarkets, departmental store, beauty outlets, pharmacy store, online store and others including health and personal care stores. Among the considered segments, in 2017 the pharmacy store is expected to dominate the market in terms of revenue, followed by beauty outlets and supermarkets/hypermarkets. Moreover, online distribution channel segment is expected to expand at a fast pace during the forecast period, owing to the rise in adoption of smart phones, internet services, rise of digital technology and increasing consumers preference for ordering product through apps or websites.
By geography, the global beauty supplements market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises United States, Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key countries whereas in Middle East & Africa, South Africa and Rest of MEA are the key countries covered in the report. Europe is anticipated to witness highest growth rate and market share during the forecast period 2019 to 2024, owing to rising concerns of people towards their external outlook and appearance along with high disposable income possessed by the consumers. In Asia Pacific, Japan is anticipated to be the major contributor in terms of revenue followed by China.
Some of the key participants in the global beauty supplements market are Amway, BeautyScoop, HUM Nutrition Inc., IMEDEEN (Pfizer Inc.), Lifes2good Inc., Meiji Holdings Co., Ltd., Murad UK Ltd., NeoCell Corporation, Reserveage Nutrition, LLC, Vemedia, Vitabiotics Ltd, The Boots Company, Murad U.K Ltd., Imedeen (Pfizer Inc.) etc. Most of the prominent companies are aiming at capturing the considerable market share through new product development and research and development at global level. Moreover, product differentiation, price, promotion and distribution strategies will provide long term growth opportunities for the market players in the beauty supplements market. Increasing adoption of e-commerce has further made it easier for companies to find new target markets.
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