NEWARK, Del, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The global biotin supplements market is worth US$ 2.06 Bn as of now and is expected to reach US$ 3.85 Bn by the year 2032 at a noteworthy CAGR of 11% between 2022 and 2032.
Biotin comes across as a B-complex vitamin. Another nomenclature for biotin is ‘vitamin H’. Biotin is inevitable as far as conversion of food into energy is concerned. It does play an important role with regards to health of nails, skin, and hair.
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There have been claims about biotin controlling blood sugar and also help pregnant mothers in delivering healthier babies. The natural sources of biotin include egg yolk, meat, nuts, banana, whole grains, mushroom, and cereals. Besides, increase in population of women workforce has prompted them to care all the more regarding their health for rendering themselves fit. Those suffering from epilepsy are also likely to benefit from biotin supplements. As such, diabetic patients and the ones at the risk of cardiac ailments could form a large percentage of end-consumers.
In all, a balanced diet is required to have proper health. The present scenario is such that the end-consumers tend to miss out on this diet; reasons could be many – like fast life, sedentary lifestyle, and likewise. In such cases, intake of biotin supplements saves the day. The millennials are more into maintaining health. So, it won’t be incorrect to infer that millennials account for more than 20% of the market share. The women workforce contributes for more than 40% of the revenue.
Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Biotin Supplements Market’. It has its team of analysts and consultants to execute through primary, secondary, and tertiary modes of research.
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Key Takeaways from Biotin Supplements Market
- North America and Europe are going steady with respect to biotin supplements market and the scenario is expected to remain the same even in the forecast period. This could be attributed to the growing inclination toward healthy lifestyles.
- The Asia-Pacific is expected to grow at the highest rate in the biotin supplements market in the near future due to the fact that the geographies have expanded their export and import activities.
- LATAM is expected to grow on the back of Brazil and Argentina. Peru is also picking up pace.
- MEA is expected to grow based on increasing health-conscious population.
Competitive Supplements
- Zhejiang Xinhecheng Co., Ltd. in January 2019, signed a contract with DSM to sell and buy cholesterol. Vitamin D3 is derived from cholesterol. This deal is expected to help the organization in enhancing the total capacity as well as productivity of vitamin D.
- Xiamen Jindawei Vitamin Co., Ltd., through a joint venture with Wu Kun Health Food Co., Ltd. (2016), has helped the company expand in Japan.
- Fermenta Biotech Ltd., in January 2019, inked a 99-year lease deal with Gujarat Industrial Development Corporation (GIDC) authority in Ankleshwar (Sayakha) for acquiring a 40K-square-meter plot of land for expansion in the near future. The company started with production by the end of 2020.
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“Increasing deficiency on the count of biotin is expected to offer lucrative opportunities to biotin supplements market in the forecast period”, says an analyst from Future Market Insights.
What does the Report supplement?
- The research study is based on product type (supplements, beauty, and beverage/drinks), by customer orientation (men and women), by price range (low/mass, mid-range, and high/premium), by type of ingredient (single ingredient and mixed/blend ingredient), by primary function (skin care, sun care, anti-aging, radiance & glow, anti-acne/pimple, hair & nail care, weight management, and multi-functional), and by sales channels (direct selling, supermarkets/hypermarkets, convenience stores, departmental stores, specialty stores, and online retailers).
- Rising awareness regarding advantages offered by biotin supplements is expected to take the biotin supplements market to a new ‘high’ in the forecast period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/biotin-supplements-market
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