NEWARK, Del, Dec. 20, 2023 (GLOBE NEWSWIRE) -- In 2024, the testosterone boosters market is projected to be valued US$ 5,188.1 million worldwide. Over the predicted period, the market is expected to grow at a compound annual growth rate (CAGR) of 6.3%, reaching a valuation of US$ 9,083.9 million in 2034.
As people age, their testosterone levels naturally decline, which increases demand for products that can address this hormonal imbalance. Testosterone boosters are often sold as supplements that help people reach their fitness objectives.
Modern lives marked by stress, inactivity, and bad eating habits can adversely affect hormonal balance. Testosterone boosters are marketed as remedies to lessen these impacts and encourage a more balanced hormonal composition.
Athlete testimonies, celebrity endorsements, and successful marketing techniques have all helped testosterone supplements become more well-known and well-liked. These product endorsements frequently focus on how these products improve overall vitality, muscle growth, and physical performance.
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Key players are also focusing on expanding into the market by spreading awareness of several diseases among the common masses with the help of blog posts and simultaneously promoting the company name through this approach. For instance:
- Zenith Nutrition created a blog post that talks about complications such as anemia, irritable bowel syndrome (IBS), hypogonadism, etc., in such a way that everybody can understand it easily.
Key Takeaways from the Market Study-
- D-aspartic acid is the leading segment as a component type and held around 28.7% market value share in 2023.
- The global market is expected to surge at a CAGR of 6.3% by 2034.
- Fenugreek is the leading segment as the source, holding around 26.7% market value share in 2023.
- By distribution channel, online pharmacies held a 42.1% market value share in 2022.
- North America is considered as the leading region, growing at a CAGR of 5.4% during the forecast period.
“Rising prevalence of chronic diseases such as HIV/AIDS, kidney ailments, as well as rise in geriatric population is leading to increasing prevalence of hypogonadism, which will propel sales of testosterone boosters across the globe,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
Market Competition
The market for testosterone boosters is fragmented, and several local, emerging, and established players exist within the market sphere. Key players are focusing on expanding into the market through several growth strategies such as marketing, mergers, new launches, investments, and partnerships.
- In 2023, TestoGen introduced promotional schemes such as “free global shipping,” “bonus gift vouchers,” and “multibuy savings offers” to expand their customer base.
- In 2023, Roar Ambition Ltd. implemented a unique approach to market expansion. They displayed pictures of their clients holding the company’s products on their website along with their testimonials; this provides a direct promotion of the products through their customers – to their customers.
Testosterone Boosters Market Size:
| Attribute | Details | |
| Estimated Testosterone Booster Market Size (2024) | US$ 5,188.1 million | |
| Projected Testosterone Booster Market Value (2034) | US$ 9,083.9 million | |
| Value-based CAGR (2024 to 2034) | 6.3% | |
| Forecast Period | 2019 to 2023 | |
| Historical Data Available for | 2024 to 2034 | |
| Market Analysis | US$ million for Value | |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkiye, GCC, North Africa, and South Africa | |
| Key Market Segments Covered | Component, Source, Distribution Channel, and Region | |
| Key Companies Profiled |
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Testosterone Boosters Market Segmentation:
By Component:
- D-aspartic Acid
- Vitamin D
- Zinc
- Magnesium
- Others
By Source:
- Ginseng
- Ashwagandha
- Fenugreek
- Oyster Extract
- Others
By Distribution Channel:
- Hyper/Supermarket
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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 clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in 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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