Supplements are the additional medicines, which help in strengthening, stimulating, and sustaining the deficiencies in a human body. These medicines are generally available in the form of liquids, powders, soft gels, and capsules. With the rising consciousness among the people regarding physical grooming and outer appearance, influenced majorly by the celebrities are anticipated to drive the global beauty supplements market in the coming years.
These days men and women both are equally concerned about their looks and appearance which is a key factor stimulating the growth of the market that is not just dominated by women, but men as well. The outbreak of the pandemic has resulted to be a positive aspect in the growth of the market due to increased awareness about hygiene among the people. Some of the products that are being sold rapidly during this time are spa, body, bath, and skin products. Moreover, owing to the need to increase immunity people are also buying vitamin supplements, stirring the growth of the global beauty supplements market. These supplements have several purposes including better hair growth, stop hair fall, reduce acne, dry skin, improve skin texture, better immunity, bone strength, and so on.
The global beauty supplements market is broadly categorized into form, type, supplement types, application, distribution channel, and region. In terms of form, the global market is segmented into gel, pills, powder, capsules, and liquid. As per the type, the market is bifurcated into natural supplements and herbal supplements. On the basis of application, the market is segregated into nails, teeth, skin, and others. Based on the supplement types, the market is sectioned into weight control, dietary, health, vitamin, weight gain, energy, and others. The distribution channel is fragmented into supermarkets, pharmacies, online Stores, and others.
Geography-wise, the global beauty supplements market is expected to be dominated by Europe with the highest market share during the forecast period. The market growth is majorly contributed by Western Europe, owing to the increasing disposable income and rising concerns among the people regarding their appearance and look. Moreover, people are also getting influenced by their surroundings and the looks of their favorite celebrities, family members, neighbors, etc. These are the factors propelling the growth in the trailing region, Asia Pacific and North America.
The leading companies in the global beauty supplements market are Murad UK Ltd., The Boots Company, Life2good Inc., and BeautyScoop, HUM nutrition, and Neocell Corporation to name a few.
The players are focusing on revamping the business strategies to suit the market demand. They are also targeting mergers & acquisitions, tie-ups, partnerships, and collaborations to establish their foot in the global market and expand their reach. A while ago, Unilever launched a new range of supplements ‘Olly’ to expand its reach in Canada and improve its customer base.