Beauty Supplement Industry Expected to Hit USD 7.5 Billion by 2030 | Persistence Market Research Analysis

The global beauty supplement market is experiencing rapid growth, driven by a combination of increasing consumer interest in holistic wellness, rising awareness about clean beauty, and the growing demand for products that enhance both internal and external beauty. With a projected Compound Annual Growth Rate (CAGR) of 14.3% from 2023 to 2030, the market is expected to increase from a valuation of US$ 2.9 billion in 2023 to approximately US$ 7.5 billion by 2030.

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Consumers today are more informed and discerning about the ingredients in their wellness and beauty products. This shift in consumer behavior is not just limited to skincare and makeup but extends to the supplements they incorporate into their daily routines. With a growing preference for natural, plant-based, and holistic beauty solutions, the demand for beauty supplements that support skin health, hair growth, and overall well-being is expected to soar. This market is driven by a combination of innovation in product formulations and an increasing shift towards preventive beauty solutions.

Key Market Insights

• Market Size (2023E): US$ 2.9 billion
• Projected Market Size (2030F): US$ 7.5 billion
• CAGR (2023 to 2030): 14.3%
• Historical Growth Rate (CAGR 2018 to 2022): 13.5%

The beauty supplement market is growing at a remarkable pace, with herbal and botanical extracts such as ginseng, aloe vera, and green tea becoming key ingredients in many products. As consumers continue to seek products that support not only their beauty but also their overall wellness, the line between health and beauty is becoming increasingly blurred. The rise of clean beauty products - those free from artificial additives and synthetic chemicals - has further fueled this demand, creating a space for beauty supplements to thrive.

Market Introduction and Definition

Beauty supplements represent a new frontier in the beauty and wellness industry. These supplements are designed to support skin, hair, nails, and overall vitality from the inside out, often containing vitamins, minerals, antioxidants, and plant extracts. Unlike topical treatments, which focus on external application, beauty supplements address the root causes of beauty concerns by nourishing the body internally.

A significant trend influencing the beauty supplement market is the growing preference for clean beauty products. Consumers today are more conscious of the ingredients in their beauty and wellness products, often opting for formulations that are free of synthetic additives, preservatives, and artificial coloring. This demand for transparency has led many beauty supplement brands to emphasize the use of natural ingredients, especially those derived from plants and herbs, as well as clearly communicating the sourcing and quality of their components.

The shift toward natural, holistic beauty supplements aligns with the broader health and wellness movement, where consumers are increasingly focused on long-term well-being rather than short-term fixes. Consumers are looking for products that can enhance their physical appearance while also contributing to their overall health, making beauty supplements an appealing choice for a large and growing demographic.

Key Growth Drivers

1. Clean Beauty and Transparency
One of the main drivers behind the beauty supplement market is the increasing consumer demand for clean beauty products. People are becoming more aware of the potential harmful effects of synthetic chemicals in beauty products and are turning towards supplements that are free from preservatives, artificial colorants, and other additives. Transparency in sourcing ingredients and formulations is becoming a key factor in building consumer trust.

2. Rise of Holistic Wellness
The growing focus on holistic health is another significant driver. Beauty supplements are increasingly seen as a part of a holistic beauty routine, addressing not only the visible signs of aging, such as wrinkles and hair thinning, but also improving overall health. Consumers are seeking supplements that support skin elasticity, hydration, and hair strength from the inside, in addition to maintaining a balanced diet and skincare regimen.

3. Plant-Based and Herbal Ingredients
With the increasing demand for natural and plant-based products, herbal and botanical extracts have become popular ingredients in beauty supplements. Ingredients like green tea, ginseng, and aloe vera are known for their anti-inflammatory and antioxidant properties, which support skin health and general well-being. This focus on plant-based ingredients also appeals to the growing number of consumers seeking vegan, sustainable, and environmentally friendly options.

4. Aging Population
As the global population ages, there is a rising demand for products that can help maintain youthful skin, reduce signs of aging, and improve overall vitality. The beauty supplement market, which offers anti-aging benefits such as improved skin texture and reduced wrinkles, is benefitting from this demographic shift. Older consumers are more likely to invest in supplements that can help them maintain both their physical appearance and general health.

5. Digital Influence and Social Media
Social media platforms and beauty influencers play a crucial role in promoting beauty supplements. Consumer interest is often sparked by positive reviews, recommendations from celebrities or beauty influencers, and trends shared on platforms like Instagram, TikTok, and YouTube. As social media continues to grow in influence, it is expected to drive demand for beauty supplements as consumers are drawn to new products endorsed by trusted influencers.

Market Segmentation

By Ingredient Type

Beauty supplements are available in a wide range of formulations, with different ingredients targeting specific beauty concerns. The most popular ingredients include:

• Vitamins and Minerals: Commonly used to improve skin tone, texture, and hair health. Vitamin C, Vitamin E, and biotin are commonly included for their anti-aging and hair-strengthening properties.

• Herbal Extracts: Plant-based ingredients like green tea, ginseng, turmeric, and aloe vera are frequently used for their antioxidant, anti-inflammatory, and skin-rejuvenating properties.

• Marine Collagen: Known for improving skin elasticity and promoting hair and nail health.

• Probiotics: Used for improving skin microbiome health and reducing skin inflammation, probiotics are becoming increasingly popular in beauty supplements.

By Application

Beauty supplements can be categorized based on their intended application:

• Skin Care Supplements: Designed to enhance skin health, these supplements focus on improving hydration, reducing wrinkles, and boosting skin elasticity.

• Hair and Nail Supplements: Supplements aimed at improving hair growth, reducing hair loss, and strengthening nails.

• Anti-Aging Supplements: Targeted at reducing the visible signs of aging by improving skin texture and firmness, these supplements often include ingredients like collagen, antioxidants, and hyaluronic acid.

• Weight Management Supplements: Products designed to support weight loss, which can also enhance the overall beauty by improving body composition.

Regional Insights

North America

North America, particularly the U.S., leads the beauty supplement market, driven by a large population of beauty-conscious consumers who prioritize wellness and anti-aging products. The growing trend of clean beauty and wellness is prevalent in North America, where consumers are increasingly opting for natural beauty supplements free from artificial ingredients. The market in this region is expected to continue growing, supported by the increasing popularity of online retail platforms for beauty products.

Europe

In Europe, the demand for beauty supplements is on the rise, driven by consumers' preference for holistic health solutions. Countries such as the U.K., Germany, and France are expected to see significant market growth due to the region's growing interest in natural, organic, and plant-based beauty products. European consumers are particularly drawn to beauty supplements that incorporate sustainable sourcing and eco-friendly production practices.

Asia Pacific

The Asia Pacific region is expected to witness the fastest growth in the beauty supplement market. This is largely due to rising disposable incomes, an aging population, and a cultural focus on skincare and beauty. In countries like China, Japan, and South Korea, the demand for beauty supplements is growing rapidly, fueled by consumers' increasing awareness of holistic beauty practices and the popularity of natural ingredients.

Key Players

The beauty supplement market is highly competitive, with several major players leading the way in product innovation and branding. Some of the key players include:

• Herbalife Nutrition Ltd.
• Amway Corporation
• Murad, Inc.
• The Hut Group (THG)
• Vital Proteins LLC
• Swisse Wellness
• Nestlé (Nestlé Skin Health)
• New Nordic
• GNC Holdings
• Olay (Procter & Gamble)

Recent Developments

1. Vital Proteins launched a new line of beauty supplements focusing on marine collagen to cater to the increasing demand for anti-aging and skin hydration products.

2. The Hut Group expanded its beauty supplement portfolio by acquiring multiple brands in the wellness and beauty space to capitalize on the growing market for holistic beauty solutions.

The beauty supplement market is witnessing a surge in popularity, driven by rising consumer awareness, a preference for natural ingredients, and the increasing convergence of health and beauty. With strong growth projections and a focus on holistic wellness, this market is poised to reach US$ 7.5 billion by 2030, offering significant opportunities for innovation and brand growth.

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This release was published on openPR.