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
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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