BEAUTY SUPPLEMENTS MARKET ANALYSIS

Beauty Supplements MarketSize and Trends

The global beauty supplements market was valued at US$ 2,674.7 million in 2022 and is anticipated to register a CAGR of 5.55% in terms of revenue, over the forecast period (2023 – 2030), to reach US$ 4,120.1 million by 2030. Players operating in the global beauty supplements market are adopting various growth strategies to attract the customer base. For instance, in 2017, Wellnext LLC, a manufacturer of dietary supplements, announced the acquisition of Everest Neocell, LLC, which is a collagen supplement company. With this partnership, Everest Neocell, LLC has gained the support of Wellnext LLC’s operational and commercial capabilities to further expand its product portfolio.

Beauty Supplements Market: Segmentation

Among form, tablets segment is expected to show a significant growth in global beauty supplements market during the forecast period. Tablets consist of nutrients and excipients, which preserve, and bind the tablet. The tablets, on ingestion, disintegrate in the digestive tract, where the active ingredient is absorbed by the body. Tablets have high shelf life and are easier to store, hence are the most commonly used form of supplement. Therefore, key players are focused on offering high quality tablets in order to increase their consumer base. For instance, Vitabiotics Ltd. offers ‘Perfectil Original’ tablets, which contains nourishing ingredients for skin, hair as well as nails. Among application, skin care segment is expected to have significant share in beauty supplement market in forecast period owing to the increasing awareness regarding skin benefits associated with beauty supplements. For instance, as per the International Trade Administration (ITA), in 2014, the total imports of makeup and skin care preparations in Australia were valued at US$ 633,433 thousands, which increased and reached US$ 688,731 thousands in 2015. As per the same source, in 2013, South Korea’s total imports of makeup and skin care preparations were valued at US$ 878.3 Mn which increased and reached US$ 937.0 Mn in 2015. Increasing demand for skin care preparations is therefore expected to boost growth of skin care related beauty supplements during the forecast period.

Figure 1. Global Beauty Supplements Market, By Product Type 2022