The global Women’s Health And Beauty Supplements Market size is expected to reach USD 84.4 billion by 2030, registering a CAGR of 4.8% during the forecast period, according to a new report by Grand View Research, Inc. Rising health consciousness among women and increasing consumer interest in active living coupled with the rising disposable income are among the key factors driving the market growth. In addition, rising awareness about the benefits of dietary supplements, increasing availability & access to these products, and an increasing number of distribution channels are further supporting the market growth. The vitamin product type segment dominated the market in 2021 due to the high demand for vitamin supplements.
Also, the growing demand for other vitamins, such as vitamins A, B, C, and E by women of all age groups suffering from vitamin deficiencies is driving the segment. Furthermore, companies across the globe are investing in the R&D of new vitamin products to meet the growing demand. In 2021, the women’s health application segment accounted for the highest revenue share owing to the increasing demand for women’s health supplements due to changing health trends and increasing awareness among women about health and nutrition. Also, the increasing prevalence of micronutrient deficiency; the rise in the need for dietary supplements in women, mainly in prenatal, premenstrual, & perimenopause stages are driving the segment growth. In 2021, the 31-50 years age group segment held the largest market share owing to the presence of a large consumer pool belonging to this age group.
Women of childbearing age, i.e., women aged 31 to 50 are the largest consumers of multivitamin or mineral supplements. Moreover, the risk of developing chronic diseases is high among this age group, which increases the dependency on preventive alternatives, thereby impelling the segment growth. In 2021, the others and postmenopause consumer group segments collectively accounted for the largest share of the market due to the availability of women’s health supplements with fewer adverse effects for general health conditions during postmenopause. In 2021, the direct sales channel segment held the largest market share owing to the high number of retail stores, which offer various discounts on products and flexible schemes to buyers, thereby attracting an increased number of customers.
Asia Pacific dominated the global market in 2021 owing to the growing consumer awareness about health & fitness and the availability of low-cost raw materials & a large number of domestic players in the region. In addition, the COVID-19 pandemic outbreak significantly increased the focus on health & wellness globally. This public health emergency created numerous growth opportunities, as people started consuming vitamins, minerals, and herbal supplements as a preventative measure against infection. Thus, a rise in the consumption of supplements to strengthen the immune system has been one of the key factors boosting product sales. Furthermore, there has been an increase in the demand for herbal supplements, such as elderberry and Echinacea. Moreover, the rise in levels of anxiety and stress owing to uncertainty due to the pandemic has increased consumer focus on self-care. This created the demand for wellness boosters & anxiety or stress management supplements and sleep aids, thereby supporting the market growth.
Related Press Release@ Women’s Health And Beauty Supplements Market Report
Women’s Health And Beauty Supplements Market Report Highlights
- Increasing awareness about health and growing preference for preventative healthcare among women coupled with the availability of multiple products are the major factor driving the market growth
- The emergence of e-commerce has raised the accessibility to dietary and beauty supplements. The online platforms are also flourishing in developing countries, which is positively impacting the market growth
- The rising cases of women suffering from micronutrient deficiencies have augmented the demand for various nutritional supplements, thereby impelling the market growth
- The increasing risk of product counterfeiting and various brand holders losing billions due to counterfeit products might hamper the market growth
- The continuous change in regulatory policies and lack of a uniform regulatory framework are among the major challenges faced by market players
