NEWARK, Del, Oct. 24, 2023 (GLOBE NEWSWIRE) -- The biotin supplement market is projected to be the size of US$ 3,696.0 million in 2023. In 2022, the market size was recorded at around US$ 3,432.3 million. Over the forecast period, the market is expected to grow at a rate of 8.5%. By the end of 2033, the value of the market is expected to have soared to US$ 8,331.0 million.
Pregnant women, diabetics, and fatigue are prone to biotin deficiency. Dietary supplements are becoming more common among the diets of consumers. The acceptance of nutritional supplements is also aiding the biotin supplements market.
Growing health trends and awareness are turning people’s attention to health supplements. For specific working populations, the daily food intake lacks some particular vitamins. Therefore, biotin supplements are preferred by consumers who lack vitamin B and suffer from issues like hair loss, nausea, and cracks appearing in the skin.
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Key Takeaways from the Biotin Supplement Market
- The biotin supplement market is predicted to grow and be valued at US$ 8,331.0 million in 2033.
- Drinks/beverages are the preferred way consumers take biotin supplements. In 2023, drinks/beverages are predicted to account for 18.2% of the market share by product type.
- Supermarkets/Hypermarkets are the most common sales channel for biotin supplements. In 2023, the supermarket/hypermarket sales channel is expected to account for 13.9% of the market share.
- The United States is a lucrative region for the biotin supplement market. In 2023, the United States is forecasted to contribute 23.9% of the market share.
- China is a fast-growing country in the biotin supplement market. 2023 the Chinese market is expected to contribute 7.9% of the market share.
- Japan is another country with potential for the biotin supplement market. 2023 the country is expected to make up 7.0% of the market share.
“As the schedules of working professionals get increasingly packed, less time is devoted to dietary planning. The eating patterns of working professionals are often irregular. Thus, the working population may be bereft of necessary vitamins. Manufacturers in the biotin supplement market can target consumers who are working professionals with inadequate vitamin intake,” says Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI) analyst.
Competition Analysis of the Biotin Supplement Market
Companies in the biotin supplement market rely on marketing to increase the reach of their product. Pharmaceutical giants dominate the market; however, local players with plant-based supplements are gaining traction. Some prominent companies in the market include Sports Research, The Nature's Bounty Co., Pure Research Products, LLC, Zhou Nutrition, Natrol LLC, and Church & Dwight Co. Inc.
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Top 10 Key Players in the Biotin Supplement Market
- Sports Research
- The Nature's Bounty Co.
- Pure Research Products
- LLC, Zhou Nutrition
- Natrol LLC
- Church & Dwight Co. Inc.
- LifeGarden Naturals
- NOW Foods
- Jarrow Formulas Inc.
- Doctors Best
Recent Developments in the Biotin Supplement Market
- In October 2023, Jayant Specialities launched a gummy product infused with vitamins, including biotin. The Indian company had previously been known for masks and hand sanitizers.
- In September 2023, American enterprise Earth's Splendor donated biotin supplements to charity. The brand hoped to counter biotin deficiency in their local area by distributing biotin supplements for free.
- In March 2023, Pet Honesty launched the products Probiotics Gut + Immune Health and Skin and Coat Health. The supplements contain biotin and are meant for cats.
Key Segments in the Biotin Supplement Market:
By Product Type:
- Capsules
- Tablets
- Gels
- Beverages/Drinks
- Gummies
- Powders
By Sales Channel:
- Supermarkets/Hypermarkets
- Specialty Store
- E-commerce
- Pharmacies
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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