Global Beauty Supplement Market Size Likely to Grow at a CAGR of 12.2% By 2033

As per the current market research conducted by the CMI Team, the global Beauty Supplement Market size is expected to record a CAGR of 12.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2.9 Billion. By 2033, the valuation is anticipated to reach USD 8.2 Billion.

Beauty Supplement Market: Growth Factors and Dynamics

• Rising Beauty Consciousness: A discernible surge in beauty consciousness among consumers drives the demand for beauty supplements. With a heightened focus on appearance and a desire for holistic self-care, individuals increasingly turn to beauty supplements as integral components of their daily routines. This growing awareness of the impact of nutrition on skin, hair, and overall aesthetics propels the market’s expansion.

• Influence of social media: The pervasive influence of social media platforms significantly shapes beauty standards and consumer perceptions. Beauty influencers, endorsements, and product reviews on platforms like Instagram and YouTube create trends and fuel consumer preferences. The power of visual storytelling on these platforms amplifies the reach and impact of beauty supplement marketing, fostering a dynamic and trend-driven market landscape.

• Evolving Lifestyle Choices: Transformations in lifestyle choices, characterized by stress, exposure to environmental pollutants, and imbalanced nutrition, prompt consumers to seek supplementary solutions. Beauty supplements address concerns related to modern lifestyles, offering solutions for skin care, hair health, and overall well-being. The recognition of these supplements as proactive measures against lifestyle-induced issues contributes to sustained market growth.

• Technological Advancements in Formulations: Continuous advancements in research and development lead to innovative formulations in beauty supplements. Incorporating cutting-edge technologies, such as improved bioavailability and targeted delivery systems, these formulations enhance the efficacy of the supplements. Scientifically backed ingredients, coupled with technological innovations, instill confidence in consumers and drive the market forward by meeting their evolving expectations.

• Health and Wellness Trend: The broader trend towards health and wellness permeates the beauty supplement market. Consumers increasingly view beauty as an integral aspect of overall well-being. Beauty supplements that not only address aesthetic concerns but also offer health benefits gain popularity. This intersection of beauty and wellness aligns with changing consumer attitudes towards self-care, contributing to the sustained growth and diversification of the market.

• Accessible Distribution Channels: Beauty supplements enjoy wide accessibility through diverse distribution channels. From the convenience of online retail platforms to the familiarity of local pharmacies and specialty stores, consumers have ample options for purchase. This accessibility fosters exploration and experimentation, allowing consumers to easily discover and incorporate beauty supplements into their routines, thereby contributing to the overall dynamism and expansion of the market.

Beauty Supplement Market: Partnership and Acquisitions

• In 2022, the Vitamin Shoppe and WW (formerly Weight Watchers) join forces in a strategic partnership to promote healthy living. This collaboration introduces comprehensive solutions to encourage positive habits, addressing the prevalent need for support as 63% of Americans express the desire for assistance in achieving their health and wellness goals.

• In 2021, A prominent player in vitamins and supplements, The Nature’s Bounty Co. introduced “Pure Beauty,” a new line of beauty supplements featuring collagen, biotin, and hyaluronic acid. This strategic product launch diversifies its portfolio, addressing consumer demands for holistic beauty and wellness solutions.

Report Scope

Beauty Supplement Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Beauty Supplement Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Supply Chain Disruptions: The beauty supplement market experienced disruptions in the supply chain during the COVID-19 pandemic. Issues such as manufacturing delays, transportation constraints, and raw material shortages impacted the availability of products, leading to challenges in meeting consumer demand.

• Consumer Spending Shifts: Economic uncertainties during the pandemic led to shifts in consumer spending priorities. Beauty supplements, considered non-essential by some consumers facing financial constraints, witnessed a temporary decline in demand as individuals focused on essential needs.

• E-commerce Resilience: Beauty supplement brands emphasized and strengthened their online presence, leveraging e-commerce platforms. The shift towards online shopping during lockdowns and social distancing measures allowed companies to maintain sales and reach consumers directly, facilitating a quicker recovery.

• Focus on Immunity and Wellness: Adapting to changing consumer priorities, beauty supplement manufacturers highlighted products that align with wellness trends. Formulations emphasizing immune-boosting ingredients and overall health benefits gained prominence, addressing the heightened focus on well-being during the pandemic.

• Digital Marketing and Influencer Collaboration: Companies intensified digital marketing efforts and collaborated with influencers to maintain consumer engagement. Virtual promotions, social media campaigns, and partnerships with influencers allowed beauty supplement brands to stay connected with their audience and create awareness even during lockdowns.

• Introduction of Value-added Products: To reignite interest and stimulate sales, beauty supplement companies introduced value-added products. This included innovative formulations, eco-friendly packaging, and bundling options, providing consumers with additional incentives and attracting attention in a competitive market.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Beauty Supplement Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Beauty Supplement Market:

• Amway Corporation
• The Boots Company PLC
• Herbalife Nutrition Ltd.
• Nu Skin Enterprises Inc.
• Perrigo Company plc
• HUM Nutrition Inc.
• Murad LLC (A Unilever Company)
• GNC Holdings Inc.
• Swisse Wellness Pty Ltd.
• Nature’s Bounty Co.
• Reserveage Nutrition
• NOW Foods
• Vital Proteins
• Lumity Life Limited
• NeoCell Corporation
• Others

The Beauty Supplement Market is segmented as follows:

By Form

• Tablets
• Capsules
• Powder
• Oils
• Others

By Application

• Skin Care
• Hair Care
• Nail Care
• Others

By Distribution Channel

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

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America