Women Health and Beauty Supplements Market Insights 2030:
The global women health and beauty supplements market size was valued at $57,280.90 million in 2020, and is expected to reach $206,885.20 million by 2030 at a CAGR of 12.4% during the forecast period. A supplement is a manufactured product anticipated to supplement the diet when taken by mouth as a pill, capsule, tablet, or liquid. A supplement can provide nutrients extracted from food sources or synthetically, individually or in combination. Changing dietary habits and inadequate nutrient consumption is responsible for causing fertility issues and other problems in women. Various dietary supplement products available in the market such as vitamins, minerals, enzymes, botanicals, proteins, omega-3, and probiotics helps to treat women health conditions and beauty issues associated with skin care, hair care, and nail care. Post menopause female population is affected to various disorders such as anemia, osteoporosis, osteoarthritis (OA), fibromyalgia, obesity, and depression. New product developments that help to minimize risk of health problems related with post menopause such as osteoporosis is anticipated to rise acceptance of the product. As per the WHO report, hot flashes are experienced by 73% of postmenopausal women, sleep disturbances, and fatigue rising their dependence on certain medications.
Rise in number of health-conscious population drives the women health and beauty supplements market growth. Moreover, increase in demand from elderly population, owing to better taste and ease of consumption also propels the market growth. Rise in consumption of probiotic drinks also impacts the market growth positively. Furthermore, rise in R&D for development of better health supplements for various nutritional deficiencies is expected to fuel the market growth during the forecast period. However, stringent rules and regulations by governments are expected to hamper growth of the women health and beauty supplements market.
Impact Of Covid-19 On Women Health and Beauty Supplements Market (Pre And Post Analysis)
The market is positively impacted by the pandemic as most countries adopted lockdown to combat the spread of the virus. In the beginning of the spread, it was difficult for companies to supply their products to market for consumption purpose by general population. Moreover, production of dietary products faced disruption in supply chain completely, owing to the closure of manufacturing operations. In addition, consumers focused only on highly essential products such as food and beverages. However, with relaxation in lockdowns and decline in COVID-19 cases, companies have re-started their processes to fulfil the demand of products in the market. In research, it has been found that dietary supplements are helpful in boosting the immune system. Due to this new trend, the demand for the dietary supplements has highly increased. In addition, the COVID-19 pandemic has boosted the awareness of physical, mental, and emotional health and increased the implementation of self-care among consumers. This, in turn, has increased the adoption of health and beauty supplements.
Women health and beauty supplements have become increasingly popular among the population across the globe, owing to the fact that people have become increasingly health conscious, hence are inclined toward buying these supplements. Increase in number of aging populations worldwide is also a major factor that propels the market growth. According to the StatisticsTimes, the population of females in the world is estimated at 3,905 million, representing 49.58% of the world population. Moreover, there is a positive correlation between elderly individuals and increase in incidences of disorders such as bone & joint and cardiovascular disease, which has, in turn, laid a strong foundation for development of women health and beauty supplements market and propels the market growth.
Vitamins & Minerals holds the dominant position in 2020 and would continue to maintain the lead over the forecast period.
Women Health And Beauty Supplements Market Segmentation
The global women health and beauty supplements market is segmented on the basis of product, consumer group, application, distribution channel, and region. On the basis of product, it is categorized into vitamins & minerals, botanical, proteins & amino acids and others. On the basis of application, it is categorized into beauty and women health. On the basis of distribution channel, it is categorized into hypermarkets/supermarkets, health & beauty retail stores, pharmacies drug stores, and online pharmacies & e-commerce sites. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
On the basis of product, the vitamins & minerals segment dominated the global women health and beauty supplements market in 2019, and is anticipated to continue this trend throughout the forecast period. This was attributed to rise in incidences of chronic diseases. Furthermore, it is used to improve body metabolism to decrease incidents of lifestyle disorders, which is expected to accelerate growth of the global market. On the basis of application, the women health segment dominated the global market in 2020. This attributed to increase in awareness regarding health and prevalence of chronic diseases among women. On the basis of distribution channel, the hypermarkets/supermarkets segment dominated the global market in 2020.
By Consumer Group
Premenstrual syndrome segment is projected as one of the most lucrative segments.
Snapshot of Asia-Pacific Women health and beauty supplements market
Asia-Pacific is anticipated to be the most lucrative market for women health and beauty supplements. Major factors that attribute toward the fastest growth of this region is presence of large patient pool with unmet medical needs. In addition, growth in healthcare scenario in Asian countries, coupled with growth in GDP and government initiatives are expected to boost growth of the women health and beauty supplements market. Furthermore, Asia-Pacific is expected to emerge as lucrative areas with maximum growth potential, owing to investments in new inventions, general economic conditions, increase in number of athletes and sports professionals, increase in economy, and rise in health risks and diseases, which can be controlled by consumption of dietary supplements.
The key companies operating in the women health and beauty supplements market include Herbalife International of America Inc., GNC Holdings Inc., The Nature’s Bounty Co, Bayer AG, Garden of Life (Nestle), Suntory Holdings Limited, Taisho Pharmaceutical Co. Ltd., Swisse Wellness Pty. Ltd., Pharmavite LLC, and Pfizer Inc.
Asia-Pacific region would exhibit the highest CAGR of 15.5% during 2020-2030
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global women health and beauty supplements market, with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis from 2020 to 2030 is expected to enable the stakeholders to capitalize on prevailing global women health and beauty supplements market opportunities.
- The women health and beauty supplements market size and estimations are based on a comprehensive analysis of key developments in the industry.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the global women health and beauty supplements market framework.
Women Health and Beauty Supplements Market Report Highlights
By Consumer Group
By Distribution Channel
By Key Market Players
This section provides various opinions of top-level CXOs in the women health and beauty supplements market. According to CXOs, adoption of women health and beauty supplements is expected to increase. This is attributed to factors such as rise in consumption of women health and beauty supplements for various consumer groups such as Pre & postnatal, premenstrual syndrome, and menopause; and rise in incidences of chronic diseases. In addition, various manufacturers offer personalized nutritional supplement (can be based on a single nutrient or on a combination of various nutrients as per their personal requirement), which is expected to be the future for growth of the market.
Players operating in the global women health and beauty supplements market are focused on product launches, approvals, and partnerships to gain market dominance and keep their products updated and in demand. For instance, in October 2020, to help stronger bones and healthier joints in females, Oziva has introduced HerBones. The formula has an impressive array of 100% plant-based & vegan ingredients aimed at strengthening bones, encouraging healthy joints, and preventing female calcium loss by maintaining optimal female hormonal balance. HerBones is aimed at women with possible calcium deficiency aged 25 years and over. In addition, constantly changing lifestyle habits such as unhealthy dietary habits, excessive alcohol consumption, smoking, obesity, and lack of physical activity make individuals more susceptible to chronic diseases, which, in turn, drives the market growth.
North America is expected to dominate the global women health and beauty supplements market in the future, followed by Europe. Moreover, Asia-Pacific is expected to represent highest market growth potential during the forecast period, owing to growth in patient pool and increase in awareness regarding healthcare. In addition, rise in growth of the Asia-Pacific market is attributed to increase in per capita income and government initiatives to enhance quality of healthcare in the region. However, stringent rules and regulations by governments are expected to hamper growth of the women health and beauty supplements market.