Hair Growth Supplements Market - Forecasts from 2023 to 2028

The hair growth supplements market is estimated to grow at a CAGR of 9.07% during the forecast period.

Hair growth supplements usually include a combination of vitamins, minerals, and other elements to assist hair development. They are frequently promoted to treat issues connected to hair loss or to promote thicker and healthier hair. Commonly included substances include biotin, vitamins A, D, and E, iron, zinc, omega-3 fatty acids, and collagen, all of which are said to support various facets of hair health.

Growth drivers in the hair growth supplements market

The market for hair growth supplements is growing rapidly because of many factors addressing widespread concerns about hair health. Growing consumer understanding of the function of vitamins and minerals as well as the impact of nutrition on hair is driving interest in supplements as a workable option. The elderly population seeking to take preventative measures, growing stress levels, and widely accessible e-commerce platforms are among the factors driving the business. The use of hair growth supplements has also been spurred by excessive hair loss caused by a variety of disorders and rising awareness of the need to keep hair healthy.

Hair supplements market opportunities

The hair supplements market has enticing prospects for expansion and improvement. Hair supplements is predicted to grow because of the growing focus on holistic health and self-care. By framing their goods as necessary components of a thorough beauty routine that nurtures the body and the spirit, brands capitalize on this trend. Additionally, the enormous reach of social media and digital platforms opens up an endless field for brand exposure and promotion. Companies can engage their target audience and create lasting relationships by utilizing the power of targeted advertising and smart partnerships with important speakers.

Changing consumer lifestyles are anticipated to fuel the market

A rise in the number of middle-class and working-class people is projected to boost hair growth supplements market share during the forecast period. Additionally, it is predicted that demand for natural growth products will increase due to the growing popularity of organic and natural goods and the numerous advantages they offer. Herbal compounds including essential oils, minerals, vitamins, and omega-3 are being added to hair growth products. Furthermore, recent product releases and strong customer demand are anticipated to meet the hair growth supplements industry's needs.

Supplements with multiple ingredients are expected to grow significantly

The multiple ingredients supplements are predicted to expand as a result of factors such as increased demand for all-encompassing care products, and natural and holistic solutions. In one composition, combining two or more substances can aid in preventing thinning and encouraging growth. Owing to this, manufacturers are compelled to develop unique formulations as a result of the increased demand for multi-ingredient solutions. For instance, GIMME Beauty introduced drops and gummies in March 2022 to provide a special combination of vitamins and minerals to maintain the health and vitality of hair.

Increasing use of hair growth supplement capsules

The hair growth supplements capsules are expected to increase as a result of the large number of drugs that are accessible in capsule form due to their cheaper cost, higher level of convenience, longer shelf life, and higher level of patient compliance. Capsules also need fewer excipients (such as binders), which makes them more appealing to the consumer. Various shell colors, styles, forms, and imprinting are a few alternatives that capsule makers give brand owners as a result of manufacturing breakthroughs.

Asia Pacific is predicted to hold a significant market share

The hair growth supplements market is anticipated to be led by Asia Pacific due to highly established retail pharmacy chains. The rapid expansion is attributed to strong consumer awareness, increased disposable income, and easy access to products. The population's growing awareness of health and well-being is encouraging people to incorporate supplements into their daily routines. The regional hair growth supplements industry has also been supported by strong demand from the young and middle-aged population, the increased prevalence of hair-thinning diseases, and several market-player activities in the form of new product launches, joint ventures, and distribution.

Market Key Developments

• In January 2023, Nurish, the first line of hair supplements for both men and women, was introduced by Capillus. Speciality chemicals are included in the supplement's formulation to support healthy hair development.
• In January 2023, the introduction of "Well Gummies" by the Indian firm Medicare broadened its selection of wellness products. The Well line includes a variety of products, such as Well Hair, Skin, Nail Gummy, and Detox Gummy.
• In October 2022, Biotin hair gummies are among the health and wellness items that Lakshmi Krishna Naturals has introduced. These recently introduced gummies help encourage regrowth and stop thinning. Collagen-based, biotin-based, vitamin E-based, keratin-based, and zinc-based products are a few examples of popular single-ingredient products. 

Segmentation:

By Type

• Single Ingredient
• Multi-ingredient

By Form

• Powder
• Gummies & Soft Gels
• Tablets
• Capsules
• Liquid

By Distribution Channel

• Hypermarkets/Supermarkets
• Specialty Stores
• Online Pharmacies
• Drug & Pharma Stores

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others