Market Analysis and Insights:
The market for Global Hair Supplements was estimated to be worth USD 879 million in 2022, and from 2022 to 2032, it is anticipated to grow at a CAGR of 15.49%, with an expected value of USD 3.74 billion in 2032.
The hair supplements industry experiences significant growth due to various factors. Firstly, a rise in hair-related issues like hair loss, thinning, and slow growth is a key driving force. These issues stem from factors such as stress, pollution, poor lifestyle choices, and nutritional deficiencies. Secondly, there is an increasing emphasis on personal grooming and appearance, notably among the youth, leading to a higher demand for hair supplements.
Consumers seek products that promote healthy and glossy hair. The accessibility of hair supplements has also increased through the popularity of online shopping platforms, further boosting market expansion. Additionally, the growing disposable income, particularly in developing nations, has encouraged greater utilization of hair supplements as individuals prioritize their overall well-being and aesthetic appeal. Lastly, a surging awareness of the benefits of natural and organic components has spiked the demand for hair supplements extracted from plant-based sources. Together, these factors contribute to the advancement of the hair supplements market.
Hair Supplements Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 3.74 billion |
| Growth Rate | CAGR of 15.49% during 2022-2032 |
| Segment Covered | By Type, By Nature, By Form, By Sales Channel, By Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Nutrafol, Viviscal, SugarBearHair, HUM Nutrition, Nature's Bounty, Hairfinity, Sports Research, HairMax, Country Life, and Phyto. |
Market Definition
Hair supplements are specialized dietary aids formulated to support the health and development of hair through the provision of vital nutrients including vitamins, minerals, and proteins. Typically employed to combat hair thinning, enhance hair volume, and elevate the general condition of hair, these supplements play a significant role in nurturing optimal hair growth and vitality.
Hair supplements play a crucial role in upholding and encouraging healthy hair growth by supplying vital nutrients that might be deficient in our daily diet. Comprised mainly of vitamins, minerals, and organic components, these supplements collaborate harmoniously to feed the hair follicles internally, enhancing their growth and resilience. Additionally, they aid in rejuvenating damaged hair and averting future harm by addressing particular issues such as hair thinning or loss. While maintaining a well-rounded diet is essential for overall hair well-being, hair supplements can offer a practical and efficient option for individuals facing nutrient shortages or encountering challenges in meeting their dietary requirements.
Key Market Segmentation:
Insights On Key Type
Multi-ingredient
The Multi-ingredient type is expected to dominate the Global Hair Supplements market. This is because multi-ingredient hair supplements offer a comprehensive approach to hair health, combining different nutrients and vitamins that target various hair concerns. Consumers are increasingly seeking all-in-one solutions that address multiple hair problems, such as hair loss, thinning, and lack of luster. Multi-ingredient hair supplements provide convenience and efficacy, as they offer a blend of ingredients specifically formulated to promote hair growth, strength, and overall health. As a result, this part is predicted to hold the highest market share in the Global Hair Supplements market.
Single Ingredient
While the Multi-ingredient type is expected to dominate the Global Hair Supplements market, the Single Ingredient type also plays a significant role. Single ingredient hair supplements focus on providing a concentrated dose of a specific nutrient or vitamin that is known to benefit hair health. For instance, single ingredient supplements may include biotin, collagen, or fish oil, among others. These products target consumers who are specifically looking to address a particular hair concern or who prefer a more tailored approach to their haircare regimen. Although the Single Ingredient part occupies a smaller portion of the market, it caters to a niche audience seeking targeted benefits for their hair.
Insights On Key Nature
Conventional
The conventional nature is expected to dominate the Global Hair Supplements Market. Conventional hair supplements are typically mass-produced and widely available in the market. They are often formulated with synthetic ingredients and chemicals. With aggressive marketing, widespread availability, and lower price points than organic alternatives, conventional hair supplements have a wider reach among consumers. Moreover, the conventional part has been established in the market for a longer time and has gained trust and familiarity among consumers.
Organic
The organic nature of the Global Hair Supplements Market is projected to hold a significant share but is not expected to dominate the market. Organic hair supplements have gained popularity in recent years due to the growing consumer preference for natural and sustainable products. While they may have a smaller market share compared to conventional supplements, the demand for organic hair supplements is steadily increasing. Consumers who prioritize natural ingredients, environmentally friendly production practices, and fewer chemical additives are driving the growth of the organic part.
Insights On Key Form
Gummies & Soft Gels
Gummies & Soft Gels are expected to dominate the Global Hair Supplements Market. This is primarily due to their growing popularity among consumers. Gummies and soft gels are convenient and easy to consume, making them a preferred choice for individuals looking for hair supplements. The appealing taste and texture of gummy supplements also make them more appealing, especially for those who struggle with swallowing pills or capsules. Additionally, the soft gel form allows for easier absorption of the nutrients, which can enhance their effectiveness. With their ease of use and consumer-friendly characteristics, gummies and soft gels are likely to be the leading part in the Global Hair Supplements Market.
Powder
Powder is another significant player within the Form category of the Global Hair Supplements Market. Although not expected to dominate, it still holds a substantial market share. Hair supplement powders offer versatility, as they can be easily mixed with various beverages or added to meals. This flexibility allows consumers to integrate the powder seamlessly into their daily routine. Additionally, powders often contain higher concentrations of nutrients compared to other forms, making them attractive for individuals seeking a potent hair supplement solution. Despite not being the dominant part, powder-based hair supplements are likely to continue to attract a considerable consumer base.
Tablets
Tablets also hold a significant presence in the Global Hair Supplements Market. Tablets provide a convenient form for consuming hair supplements, as they are easy to store and transport. With their compact size and solid structure, tablets offer a hassle-free option for individuals who prefer a more traditional method of taking supplements. While not expected to dominate, tablets are a popular choice for many consumers, particularly those who value convenience and familiarity.
Capsules
Capsules constitute another essential form of the Global Hair Supplements Market. Capsules are preferred by individuals who prioritize easy consumption and digestibility. With their gelatin or plant-based casing, capsules offer a smooth texture, making them easier to swallow compared to other forms like tablets. Additionally, capsules often contain a variety of nutrients, providing a comprehensive solution for hair health. Although not projected to dominate the market, capsules are likely to retain a loyal consumer base.
Liquid
Liquid hair supplements, while not expected to dominate the Global Hair Supplements Market, still occupy a niche . Liquid supplements offer a convenient alternative for individuals who prefer not to consume pills or capsules. The liquid form allows for quicker absorption and may be preferred by individuals who have difficulty swallowing or digesting solid supplements. While not the dominant part, liquid hair supplements cater to a specific of consumers seeking alternative delivery methods for their hair health needs.
Insights On Key Sales Channel
Online Retail
Online retail is expected to dominate the global hair supplements market. With the increasing popularity of e-commerce platforms and the convenience they offer, more and more consumers are turning to online channels for their purchasing needs, including hair supplements. Online retail provides a wide range of options, price comparisons, and easy access to product information and reviews. It also enables consumers to make purchases from the comfort of their own homes, which is particularly appealing in today's fast-paced world. The growth of online retail is further fueled by the rise of digital marketing and social media influencers who promote hair supplements, driving consumer awareness and demand.
Hypermarkets/Supermarkets
Hypermarkets/supermarkets play an important role in the distribution of hair supplements, but they are not expected to dominate the global market. Although these physical stores offer convenience and accessibility, they often have limited shelf space dedicated to hair supplements compared to other product categories. Furthermore, hypermarkets/supermarkets lack the targeted marketing and personalized recommendations that online retail can provide. Nevertheless, hypermarkets/supermarkets still serve as a popular sales channel, especially for consumers who prefer to physically browse and shop for products.
Specialty Stores
Specialty stores also hold a significant share in the global hair supplements market but are not expected to dominate. These stores focus specifically on hair care and provide a curated selection of hair supplements to cater to consumers' specific needs. However, specialty stores generally have a limited number of outlets compared to online retail and hypermarkets/supermarkets. While they offer expert advice and a niche product assortment, their smaller scale limits their reach and accessibility to a broader consumer base, making it unlikely for them to dominate the market.
Drugs & Pharma Stores
Drugs & pharma stores represent another part within the hair supplements market. These stores may carry a range of hair supplements alongside other health and wellness products. While drugs & pharma stores are recognized as trusted sources for health-related products, their focus is not solely on hair care. This limits their ability to dominate the global hair supplements market, as consumers seeking comprehensive hair care solutions may prefer specialized channels such as online retail or specialty stores.
Insights on Regional Analysis:
North America
North America is expected to dominate the global hair supplements market. This region has a well-established cosmetics and personal care industry, along with a high disposable income, which is driving the demand for hair supplements. Additionally, the increasing prevalence of hair-related issues and the growing awareness among the population regarding hair health are also contributing to the market growth in North America. Moreover, the presence of key market players and constant product innovation further solidify the region's dominance in the global hair supplements market.
Europe
Europe is another significant market for hair supplements, with a large consumer base and a strong focus on personal grooming and appearance. The region is witnessing a growing trend of using natural and organic products, including hair supplements, which is boosting the market demand. Moreover, the presence of a large aging population in Europe is driving the demand for hair supplements to combat age-related hair issues. Additionally, the increasing awareness regarding the benefits of hair supplements and the presence of established market players contribute to the growth of the hair supplements market in Europe.
Asia Pacific
Asia Pacific is experiencing rapid growth in the hair supplements market. The region is characterized by a large population, changing lifestyle patterns, and increasing disposable income, which are driving the demand for hair supplements. Factors such as rising air pollution, stress, and changing dietary habits are leading to an increase in hair problems among the population, thereby creating a favorable market environment for hair supplements in the region. Furthermore, the growing influence of social media, along with the desire to have healthy and lustrous hair, is propelling the market growth in Asia Pacific.
Latin America
Latin America is emerging as a potential market for hair supplements. The region is witnessing a growing popularity of cosmetic and beauty products, including hair supplements. The increasing awareness among consumers about the importance of hair care and the availability of a wide range of hair supplement products contribute to the market growth in Latin America. Moreover, the region's diverse population and their varied hair care needs create opportunities for market players to cater to different s and gain a competitive edge.
Middle East & Africa
The Middle East & Africa region is expected to show moderate growth in the hair supplements market. Factors such as a high prevalence of hair-related problems, growing urbanization, and increasing disposable income contribute to the demand for hair supplements in the region. Additionally, the expanding beauty and personal care industry, along with the rising awareness about hair health and the desire for enhanced appearance, are driving the market growth in the Middle East & Africa. However, the market in this region is still evolving and faces challenges such as limited availability of hair supplements and price sensitivity among consumers.
Company Profiles:
Prominent participants in the international hair supplements industry, such as SugarBearHair and Viviscal, make significant contributions by providing cutting-edge and successful solutions for combatting hair loss and stimulating hair growth. These major players enhance the market through persistent investments in research and development, producing premium hair supplements, and broadening their distribution networks to access a broader clientele.
Prominent companies in the hair supplements sector include Nutrafol, Viviscal, SugarBearHair, HUM Nutrition, Nature's Bounty, Hairfinity, Sports Research, HairMax, Country Life, and Phyto. Recognized for their expertise, these organizations provide various hair supplements that assert benefits such as promoting hair growth, averting hair loss, and improving overall hair condition. Engaged in ongoing research and development initiatives, they aim to unveil pioneering products and enhance their market footprint. Given the rising consciousness regarding hair wellness and the aspiration for luxurious and voluminous hair, these leading entities are persistently endeavoring to satisfy consumer demands and uphold their competitive advantage within the industry.
COVID-19 Impact and Market Status:
The global market for hair supplements has experienced adverse effects due to the Covid-19 pandemic, resulting in a reduction in consumer demand and significant disruptions in supply chains.
The hair supplements industry has been significantly impacted by the COVID-19 pandemic. With the enforcement of lockdowns and the practice of social distancing in various countries, there has been a noticeable decline in the demand for hair supplements. Individuals facing financial uncertainties have become more cautious with their spending, leading to reductions in non-essential purchases such as hair supplements. The temporary closure of salons and the decrease in social interactions have also contributed to a decreased motivation to invest in hair care and beauty products. However, some hair supplement brands have been able to maintain sales by capitalizing on the trend of increased online shopping during the pandemic. Furthermore, the ened focus on personal health and wellness during these times has sparked a growing interest in natural and organic hair supplement options.
Manufacturers have responded by introducing new products fortified with additional vitamins and minerals to enhance hair health, which is driving market expansion. As the situation surrounding COVID-19 gradually improves and normalcy returns, the hair supplements market is projected to recover and experience growth. This growth will be fueled by an escalating awareness of hair health and the desire for a well-groomed appearance. Market players must be prepared to adapt their strategies to align with changing consumer preferences and accentuate the advantages of their products in the post-pandemic landscape. Although the hair supplement market faced a setback due to the pandemic, there is potential for recovery and progression in the foreseeable future.
Latest Trends and Innovation:
- On July 20, 2021, Nutrafol announced a strategic partnership with L'Oréal to develop and distribute personalized hair growth supplements in the United States.
- On April 12, 2021, HairMax acquired Lexington International LLC to expand their presence in the hair care market and strengthen their position as a leading provider of hair growth devices.
- On February 4, 2021, Viviscal, a subsidiary of Church & Dwight Co., Inc., launched an innovative hair supplement called Viviscal Menopause & Hormonal Support to address hair loss and thinning associated with menopause.
- On January 11, 2021, HUM Nutrition announced its collaboration with Grosvenor Capital Management, L.P., a global investment advisory firm, to support its expansion plans and accelerate growth in the hair supplements market.
- On November 16, 2020, SugarBearHair, a popular brand known for its gummy hair vitamins, introduced a new product line called Women's Multivitamin to complement its hair growth supplements.
- On September 29, 2020, Nature’s Bounty, a subsidiary of The Bountiful Company, launched a new line of hair, skin, and nails vitamins called Pure Beauty.
- On July 7, 2020, Hairfinity announced its acquisition by Brock Beauty Inc., a leading beauty and wellness company, to enhance its product portfolio and strengthen its market position.
- On June 18, 2020, Hum Nutrition raised $15 million in Series B funding led by CircleUp Growth Partners, indicating investors' confidence in the company's hair supplement offerings and growth potential.
- On May 5, 2020, Vital Proteins, a collagen supplement brand, introduced a new product called Hair Boost, which combines collagen peptides with hair-nourishing ingredients to support healthy hair growth.
- On February 25, 2020, Briogeo Hair Care entered into a strategic partnership with Douglas Laboratories to distribute its hair growth supplements in France, Germany, and the United Kingdom, expanding its international presence.
Significant Growth Factors:
Factors driving the expansion of the Hair Supplements Industry consist of ened consumer knowledge regarding hair well-being, growing interest in natural and organic goods, and progress in the exploration and innovation of potent solutions for hair growth.
The market for hair supplements has experienced substantial growth recently due to various factors. One such factor is the rising number of individuals facing hair problems such as hair loss, thinning hair, and damaged hair, leading to an increased demand for hair supplements. Consumers are increasingly turning to natural and efficient solutions to tackle these issues, opting for hair supplements over traditional hair care products. Moreover, the growing awareness regarding the significance of proper nutrition and its influence on hair health has driven the need for hair supplements. People are now more mindful of their eating habits and are ready to invest in supplements containing essential nutrients like vitamins, minerals, and proteins, crucial for maintaining healthy hair. Additionally, the surge in disposable income and the emphasis on personal grooming and appearance have motivated consumers to seek new methods to enhance their hair quality. Hair supplements provide a convenient and accessible option for individuals looking to improve their hair's overall health and appearance, thereby pushing market growth. Furthermore, the prevalence of social media platforms and online influencers endorsing hair care products has played a substantial role in raising awareness and interest in hair supplements. Online platforms offer a convenient way for consumers to research and compare hair supplement options, facilitating informed purchasing decisions. In conclusion, the market for hair supplements is projected to sustain its growth momentum as more consumers prioritize hair health and seek effective remedies for their hair-related issues.
Restraining Factors:
The growth of the Hair Supplements Market is hindered by the scarcity of substantial scientific evidence backing the efficacy of hair supplements.
The market for hair supplements has experienced significant growth in recent years, fuelled by a rising consumer emphasis on hair health and aesthetics.
Nevertheless, the market faces several barriers to its growth trajectory. An essential factor is the lack of scientific validation supporting the effectiveness of hair supplements. This lack of empirical evidence has led to consumer skepticism regarding the proclaimed advantages of these supplements, hindering their widespread adoption. Furthermore, stiff competition exists in the market from other hair care products such as shampoos, conditioners, and serums, which promise immediate results and are readily accessible. The elevated cost of hair supplements is another hurdle for cost-conscious consumers, restricting their market penetration. Moreover, the hair supplement sector is fragmented with numerous brands, making it challenging for consumers to select the most suitable product. Lastly, limited awareness and availability of hair supplements in certain regions impede market expansion. Despite these obstacles, the hair supplements market holds substantial growth prospects. The trend towards natural and organic ingredients presents an opportunity for hair supplements to leverage. Additionally, the increasing consumer understanding of the significance of overall health and well-being is anticipated to bolster demand for hair supplements in the long term.
Manufacturers can stimulate market growth by investing in scientific research to establish product efficacy, implementing competitive pricing strategies, and launching extensive marketing campaigns to inform and attract consumers.
Key Segments of the Hair Supplements Market
Type Overview
• Single Ingredient
• Multi-ingredient
Nature Overview
• Organic
• Conventional
Form Overview
• Powder
• Gummies & Soft Gels
• Tablets
• Capsules
• Liquid
Sales Channel Overview
• Hypermarkets/Supermarkets
• Specialty Stores
• Drugs & Pharma Stores
• Online Retail
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The market value of hair supplements market in 2032 was USD 3.74 billion.
The hair supplements market is growing at a CAGR of 15.49% over the forecast period.
North America dominated the market for hair supplements market and accounted for the largest revenue share.
The top companies that hold the market share in hair supplements market are Nutrafol, Viviscal, SugarBearHair, HUM Nutrition, Nature's Bounty, Hairfinity, Sports Research, HairMax, Country Life, and Phyto.
The base year for the report is 2023 in hair supplements market.