According to a new market report published by Credence Research “Beauty Supplements Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023,” the global beauty supplements market is expected to reach over US$ 7,100 Mn by 2023, expanding at a CAGR of 9.5% from 2016 to 2023.
Browse the full Beauty Supplements Market by application skin care, hair care, nail care, teeth care and others (overall health supplements), by distribution channel Supermarkets / Hypermarkets, Departmental Stores, Beauty Outlets, Pharmacy Stores, Online Stores and Others – Market Growth, Future Prospects and Competitive Analysis, 2016 – 2023 report at http://www.credenceresearch.com/report/beauty-supplements-market
The global beauty supplements market is growing at a fast pace and is anticipated to attain significant market size over the next few years. Increasing concerns of people towards their aesthetic appeal, appearance and looks along with augmented spending power has strengthened the growth of beauty supplements market over the past few years. The global beauty supplements market is expected to reach US$ 7,100 Mn by 2023, expanding at a CAGR of 9.5% from 2016 to 2023.
The beauty supplements market is highly fragmented owing to the presence of various large and small companies. Small companies provide handful of specialty products; yet major players undertake extensive R&D programs to standardize their products. In this market, vendors compete in terms of product differentiation, price, promotion and distribution. The competition in the market is projected to intensify with an increase in consumer awareness and product innovations among others.
The global beauty supplements market is segmented on the basis of applications into skin care, hair care, nail care, dental care and others (overall health supplements). The skin care segment dominated the global beauty supplements market and accounted for more than 30% share of the total market in 2015, followed by the hair care segment in 2015.
Based on geographical distribution, global beauty supplements market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the base year 2015, Europe was observed as the largest market for beauty supplements. The global beauty supplements market is mainly concentrated in Western Europe (Germany, U.K., Spain, Italy and France) and is expected to influence owing to higher disposable income possessed by the consumers along with rising concerns of people towards their external outlook and appearance.
Beauty supplement manufacturers are highly concentrated in North America and Europe region. Amway, BeautyScoop, HUM Nutrition, Inc., IMEDEEN (Pfizer, Inc.), Lifes2good, Inc., Meiji Holdings Co., Ltd., Murad UK Ltd., NeoCell Corporation, Reserveage Nutrition, LLC., Vemedia and Vitabiotics Ltd. are few key manufacturers in the global beauty supplements market.
- Increasing consumer health awareness driving growth of the global beauty supplements
- Easy availability of products through various distribution channels
- Asia Pacific will drive demand in upcoming years