New York, May 18, 2023 (GLOBE NEWSWIRE) -- The global women’s health and beauty supplements market is estimated to be valued at US$ 89.3 billion by 2032 and is expected to exhibit a CAGR of 5.2% during the forecast period 2023 to 2032. The global women’s health and beauty supplements market size accounted for US$ 54.5 billion in 2022.
A supplement is described as a manufactured product intended to supplement the diet by mouth in the form of a tablet, capsule, pill, or liquid. There are several types of dietary supplements available in the market, such as vitamins, enzymes, minerals, botanicals, omega-3 fatty acids, proteins, and probiotics.
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Key Takeaway:
- By product, the vitamins segment accounted for the largest revenue share in 2022.
- By application, the women’s health segment dominated the market in 2022 and is projected to grow more during the forecast period from 2023 to 2032.
- By distribution channel, the offline channels accounted for the largest market share in 2022
- In 2022, Asia-Pacific dominated the market with the highest revenue share of 39%.
The nutrients that a supplement provides can either be taken directly from dietary sources or combined with other nutrients that have been synthesized. The market is expected to rise as a result of rising access to supplements, rising nutritional deficits in women, rising health consciousness among consumers, expanding distribution channels, and aggressive promotion by large brands.
Factors Affecting the Growth of the Women’s Health and Beauty Supplements Market
There are several factors that can affect the growth of the women’s health and beauty supplements market. Some of these factors include:
- Rising prevalence of lifestyle-related disorder: The market growth of women’s health and beauty supplements can be highly attributed to the increase in the prevalence of lifestyle-related diseases that led to an increase in the adoption of health supplements in vitamins and minerals form to boost immunity.
- Awareness of benefits associated with health supplements: Consumers, particularly women, are becoming highly aware of the benefits of health supplements to manage chronic disorders, which is anticipated to positively drive the market’s growth.
- Rising demand for beauty products: Increases in the desire to look attractive are expected to increase the demand for beauty products, which in turn supports the expansion of the market.
- Advertisements: The increase in advertisements of brands increases the presence of their product globally, which is expected to influence market growth.
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Top Trends in the Global Women’s Health and Beauty Supplements Market
The requirement for high immunity has been increasing due to several infections and diseases, which in turn increases the demand for health supplements. Heath supplements add vitamin C, vitamin D, and other nutrients in their capsules and pills to increase the immunity of the body. As a result, the global women's health and beauty supplements market is predicted to grow potentially in the future. Additionally, serums, moisturizing creams, anti-aging creams, and other products are used to make the user look beautiful and younger. They protect the skin from UV rays by maintaining the pH level of the skin.
Market Growth
Rising preference for a healthy lifestyle is the major factor influencing the market’s growth. Individuals are focusing on maintaining a good physique and beautiful appearance, especially younger women. In addition, the increasing popularity of meditation, yoga, physical exercises, and health supplements specifies that a large number of people are opting for a more active lifestyle. Moreover, a rising choice towards maintaining good health is inspiring a market player to launch new products.
Regional Analysis
Asia Pacific accounted for the highest revenue share in 2022. High inclination towards health and beauty supplements, robust availability of products, presence of local supplement manufacturers, and high burden of target diseases are expected to drive regional growth. Additionally, this significant growth is largely experienced due to the presence of prominent players in this region, various strategic initiatives undertaken by them, and a larger population base. Moreover, the supportive regulatory policies and increasing sales of dietary supplements in this region are likely to support the growth of this region.
The Middle East & Africa is anticipated to grow at the fastest CAGR during the forecast period. Growing awareness of major beauty supplement brands through social media platforms is likely to fuel the market growth for beauty supplements in Middle East & Africa region during the forecast period. Additionally, increasing awareness regarding health and well-being, as well as nutritional deficiencies, is propelling the growth of this region.
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Scope of Report
| Report Attribute | Details |
| Market Value (2022) | US$ 54.5 billion |
| Market Size (2032) | US$ 89.3 billion |
| CAGR (from 2023 to 2032) | 5.2% from 2023 to 2032 |
| Asia-Pacific Revenue Share | 39% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The rising use of women's health supplements for various diseases and improvements in beauty supplement formulation are anticipated to drive market growth. The rising number of working women and the growing proportion of elderly women, all significantly contribute to the growth of the women’s health and beauty supplements market. Several disorders, such as anemia, depression, osteoporosis, and arthritis, can be cured by the use of supplements that consists of proteins, biotin, vitamins, and minerals. These supplements are known for increasing women’s immunity. Moreover, the beauty products like face wash have added tea tree oil and salicylic acid in the formulation to cure cystic acne, pimples, scars, and other skin-related problems that clear the pores of the skin.
Market Restraints
High costs associated with beauty supplements are expected to restrict market growth. Women in underdeveloped countries generally have less flexible cash as compared to women in developed countries. As a result, it means they are not able to afford expensive vitamins and other health supplements. As a result, the expansion of the market is likely to be hampered by relatively high costs associated with health and beauty supplements.
Market Opportunities
The companies are highly releasing products that will likely feature new ingredients, packaging, flavors, and methods of distribution. High demand for natural healthcare goods, such as botanicals and vitamins, that have the benefits such as relieving the symptoms related to the strengthening of bones and menopause, among other things will likely promote market expansion. Additionally, the increase in understanding, which is important for the nourishment and maintenance of good hair, nails, and skin, has also resulted in the increasing use of a variety of products, including minerals, botanicals, vitamins, and other substances.
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Report Segmentation of the Women’s Health and Beauty Supplements Market
Product Insight
The vitamins segment dominated the global women’s health and beauty supplements market in 2022. The increased request for vitamins in lactating and pregnant women is a major factor driving the segment's growth. Additionally, the surging trend of preventive health care, increasing adoption of healthy lifestyles, and higher requests for vitamins, as well as the introduction of innovative vitamin products, is facilitating segment expansion in the market for women’s health and beauty supplements.
Application Insight
The women’s health segment held the largest revenue share in 2022. The continuously changing trends in women’s health as well as increasing awareness among women regarding health and nutrition are key factors responsible for the rising preference for products used to maintain health. Additionally, the growth of this segment is likely to be fueled by the robust availability of numerous health supplements for different conditions, such as immune &joint health, digestive health, and the presence of a high consumer pool.
Distribution Channel
The offline channel dominated the global market with the highest revenue share in 2022. The high adoption of various strategies from well-established retail stores and a robust retail distribution network to provide personalized consulting before the purchase of supplements are expected to boost the segment’s growth. Additionally, the growth can be highly attributed to the higher trust of consumers in offline stores, lucrative discounts, a large number of providers, and attractive offers provided by sellers.
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Market Segmentation
By Product
- Vitamins
- Mineral
- Proteins & Amino Acids
- Enzymes
- Omega-3
- Botanicals
- Probiotics
- Other Products
By Application
- Beauty (Skin Care, Hair Care, Nail Care, and Other beauty applications)
- Women’s Health
By Distribution Channel
- Online Channels
- Offline Channels
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Emerging players in the market players are highly focused on the implementation of various growth strategies to develop their portfolios and expand their businesses in foreign markets. They are concentrating on different marketing strategies and spreading awareness about their products in order to increase their sale, which in turn is propelling the growth of their targeted products. Additionally, several companies in the women’s health and beauty supplement market are involved in the development of new products, investments, mergers & acquisitions, collaborations, partnerships, and competitive pricing.
The competitive landscape of the market has also been examined in this report. Some of the major players include
- Herbalife Nutrition Ltd.
- Pfizer Inc.
- Nestlé S.A.
- GNC Holdings, LLC
- Bayer AG
- Taisho Pharmaceutical Co., Ltd.
- FANCL Corporation
- Asahi Group Holdings, Ltd.
- Nature’s Bounty, Inc.
- Suntory Holdings Limited
- Usana Health Sciences, Inc.
- By-health Co Ltd
- Nu Skin Enterprise, Inc.
- Standard Foods Corporation
- Vita Life Sciences
- Himalaya Wellness Company
- Other Key Players
Recent Development of the Women’s Health and Beauty Supplements Market
- In September 2022, Tata Consumer Products launched Tata GoFit supplements for women, thereby entering into the health supplement market.
- In March 2021, Target and wellness company Care worked together in order to launch a new line of vitamins in the retail industry. This range features prenatal supplements and multivitamins specifically formulated for female consumers. This product is designed for the use of various purposes, including energy, relaxation, immunity, sleep, and concentration.
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