The global Women’s Health And Beauty Supplements Market size is expected to reach USD 76.6 billion by 2028, registering a CAGR of 4.9% over the forecast period, according to a new report by Grand View Research, Inc. The COVID-19 pandemic has augmented the awareness levels about health and wellness among consumers, thereby increasing the consumption of supplements. Moreover, people are consuming different types of vitamins, minerals, probiotics, and botanicals to strengthen their immune systems. This, in turn, is positively impacting the market growth. Increasing focus on preventative healthcare is also driving the market. Consumers are adopting supplements for different applications, such as skincare, haircare, nail care, bone & joint health, immunity, stress or anxiety management, heart health, eye health, sexual health, liver health, memory enhancement, etc. In addition, women are consuming supplements to get healthier and have glowing skin & hair. Moreover, rising demand and consumption of supplements, such as collagen and CoQ10 due to their anti-aging effects, will drive market growth.
The rise in the middle-class population, which is the largest consumer group, a growing number of working women, and the increasing prevalence of micronutrient deficiency among women further boost the product demand. In addition, a rise in disposable income and an increase in the number of sales channels for health and beauty supplements coupled with improved accessibility are expected to propel market growth.
Key companies are introducing new products to cater to the growing demand. For instance, in March 2021, SimpleHealth, a telehealth provider for women’s reproductive health, introduced a line of nutritional supplements, which includes The Daily 5 multivitamin tablets; Urinary Tract Support, a cranberry pill for urinary tract health; and Probiotic Blend for improving gut health. In April 2020, Aptorum Group introduced a bone health supplement consisting of NSL-2 Dioscorea opposita, which is extracted from Chinese yam. This supplement is utilized to improve menopausal transitions, including osteoporosis.
Related Press Release@ Women’s Health and Beauty Supplements Market Report
Women’s Health And Beauty Supplements Market Report Highlights
- Vitamins emerged as the leading product segment in 2020 with a revenue share of over 37%
- Among applications, the women’s health segment accounted for the largest revenue share of the global market in 2020
- Among consumer groups, the others segment accounted for the largest revenue share of the overall market in 2020, whereas postnatal is estimated to be the fastest-growing segment
- The direct sales channel segment accounted for the maximum revenue share in 2020, whereas the online channel segment is estimated to register the fastest CAGR from 2021 to 2028
- Asia Pacific was the largest regional market in 2020. However, Middle East & Africa is projected to expand at the fastest CAGR during the forecast period
