The use of Beauty Supplements is on the increase. People are always looking for a way to improve their appearances and to feel more confident in themselves. More people are opting for beauty supplements in place of spending hundreds of dollars at the salon or spa. Beauty Supplements offer a way to regain your confidence and even your self-esteem. Consumers across the globe have become aware of their external outlook and self-appearance. This trend is complemented by rapid urbanization and rising population worldwide. As per the United Nations (UN), by 2050, around 68% of the global population is expected to live in urban areas, increasing from 55% in 2018. According to the same source, in 2018, around 4.2 billion people were living in urban areas, increasing from 751 million in 1950. This, in turn, has led to rise in demand for cosmetic products. Thus, such factors can potentially stimulate growth of the beauty supplements market.
Beauty Supplements can also come in the form of food supplements. These are food items that we put into our mouths that are supposed to help us look younger. The products that we are talking about here are vitamins, minerals, antioxidants, enzymes, proteins, herbal extracts, amino acids, and other substances. As far as regional impact is concerned, North America seems to be exhibiting promising signs in the beauty supplements market. This is due to the fact there are advent new beauty supplement products in the region. Recently, in April 2019, Nature’s Bounty Co. introduced premium beauty supplements Beauty Gels.
Recently, in October 2019, Asahi Group Holdings, Ltd launched two new beauty supplement products Dear-Natura Style Placenta x Collagen and Dear-Natura Style Iron x Collagen.
Despite these benefits, there are certain factors that can significantly limit growth of the market in the near future. Stringent government regulations imposed by authorities on product approval remain one of the major hurdles in market growth. Furthermore, lack of awareness regarding the benefits of nutraceutical ingredients can impede growth of the beauty supplements market.
Another key reason behind the high demand for these supplements is rising incidence of hormonal imbalances, which is a consequence of poor dietary habits as well as high-stress levels and alcohol consumption. This, in turn, has increased the demand for supplementary products, in order to maintain adequate self-appearance. Hence, such factors can augment growth of the beauty supplements market in the near future.
