The global women's health and beauty supplements market size was valued at USD 54.1 billion in 2021 and is projected to reach USD 83.42 billion by 2030, registering a CAGR of 4.93% from 2022 to 2030. A manufactured product that is intended to supplement the diet when used by mouth in the form of a pill, capsule, tablet, or liquid is referred to as a supplement. Individually or in combination, the nutrients that a supplement provides can be those that have been taken from dietary sources or those that have been synthesised. Alterations in eating routines and an insufficient intake of essential nutrients are to blame for a variety of difficulties that affect women, including those related to fertility.
Several different types of dietary supplements, such as vitamins, minerals, enzymes, botanicals, proteins, omega-3 fatty acids, and probiotics, are currently on the market. These supplements can be used to treat a variety of women's health conditions as well as beauty problems related to skin care, hair care, and nail care. Anemia, osteoporosis, osteoarthritis (OA), fibromyalgia, obesity, and depression are some of the conditions that afflict the post-menopausal female population. Other conditions include menopause-related anaemia. It is projected that the product's acceptance will improve as a result of new product advancements that assist in reducing the risk of health concerns associated with post-menopause, such as osteoporosis.
According to a survey published by the WHO, approximately 73 percent of postmenopausal women suffer from hot flashes. Additionally, sleep disruptions and weariness contribute to an increased reliance on particular medications. The expansion of the market for women's health and beauty supplements market research is being driven by the growing number of people who are concerned about their health. In addition, the expansion of the market is helped by an increase in demand from the older population, which can be attributed to the improved taste and an easier way to consume the product.
The increase in the use of probiotic beverages also has a favourable impact on the expansion of the industry. In addition, during the period of analysis, an increase in research and development spending on improving health supplements to treat a variety of nutritional deficiencies is anticipated to be a primary driver of market growth. However, it is anticipated that severe laws and regulations imposed by governments will act as a barrier to the expansion of the market for women's health and beauty supplements market.
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In the United States of America in 2018, it was revealed that approximately 30 percent of menstruation women and 42 percent of young women and pregnant women have iron deficiencies. According to the findings of the National Diet and Nutrition Survey conducted in 2018, roughly 25.3% of women in the United Kingdom suffered from iron deficiency, 24.3% suffered from potassium deficiency, and 50.3% had an inadequate intake of selenium through their diet. Therefore, the expansion of the market is being driven by the rising prevalence of nutritional inadequacies in women.
The expansion of women's rights and economic opportunities, the growing proportion of elderly people, as well as the rising number of working women, all contribute to the expansion of the market. According to the "Global Gender Gap Report" published by the World Economic Forum, women all over the world have observed a great growth in economic power compared to men over the past several decades. According to the estimations provided by the study, the incomes of women around the world are likely to climb from USD 13 trillion to USD 18 trillion between 2013 and 2023. This represents an increase that is more than twice as large as the estimated growth in GDP from China and India.
The growth of the market is being hampered by the relatively high prices of health and beauty supplements. Women in developing nations typically have less discretionary cash than their counterparts in wealthy nations, which means they are unable to buy vitamins whenever they feel the need for them. As a result, this factor is working against the growth of the market over the period covered by the forecast.
The high demand for natural healthcare goods such as vitamins and botanicals, which have benefits such as easing symptoms associated with menopause and strengthening bones, amongst other things, will promote the expansion of the market. The growing understanding that it is important to nourish and maintain good skin, hair, and nails has also led to an increase in the use of various products, including vitamins, minerals, botanicals, and other substances. Increasingly, companies are releasing products that feature novel flavours, ingredients, packaging, and methods of distribution.
Because of the increased demand for vitamins that improve immunity during the COVID-19 pandemic, the vitamins product segment accounted for the biggest revenue share in 2020, which was over 37 percent. This was due to the increased demand for vitamins such as vitamins C, D, and B. In addition to this, the high intake of vitamins C and E in the skincare application has also been boosting the expansion of the industry. The expansion of knowledge regarding the positive effects that taking vitamins can have on a pregnant woman's health and her ability to breastfeed her baby will further propel the growth of this market sector.
For example, vitamin A is an essential nutrient for the development of the fetus's organs, including the lungs, kidneys, and heart. Vitamin C is also required. However, due to the increasing demand for coenzyme Q10, it is anticipated that the enzymes category would experience the highest CAGR growth throughout the course of the projected period. Applications involving skin restoration and cellular renewal make extensive use of coenzyme Q10 (CoQ10). It is projected that the increased knowledge regarding the benefits of enzymes for beauty and health enhancement will be the driving force behind the segment.
The women's health application segment held the biggest market share in 2020, with more than 68 percent, and is also anticipated to achieve the quickest CAGR throughout the forecast period. In the year 2020, the market for wearable health monitoring devices reached a total value of more than $4 billion. This expansion can be ascribed to the availability of a wide variety of supplements designed to treat a variety of illnesses, including prenatal, postnatal, bone and joint health, immune system, digestive system health, stress management, heart health, eye health, sexual health, and memory. The consumption of various supplements is seeing increased uptake as more people become aware of the positive effects that doing so can have on their health.
The rising prevalence of vitamin, iron, and other nutritional inadequacies among women is another factor that contributes to the growth of this market segment. In addition, it is projected that the demand for nutrients, particularly during the prenatal, premenstrual, and perimenopause stages, will boost the expansion of the market. During the course of the pandemic, there has been a rise in the consumption of products that strengthen the immune system. In addition, it is anticipated that a growth in stress- and anxiety-related illnesses will enhance demand for stress management supplements, which will in turn drive the market segment.
The market is split into North America, Europe, Asia-Pacific, and LAMEA.
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The Asia Pacific region accounted for the greatest revenue share of 38.9 percent in 2020. This was mostly attributable to the growing awareness and acceptance of women's health and beauty supplements market, as well as the high disposable income and number of working women in the region. The United Nations Fund for Population Estimates projects that the number of people aged 60 and older will increase by a factor of three by the year 2050. In addition, women account for 53% of the population that is at least 60 years old. There has been an increase in the demand for health supplements that are prescribed for a variety of ailments, including heart disease, osteoporosis, arthritis, and menopause, as a direct result of the expanding population of older women. The expansion of the market is being supported by the rising demand for anti-aging and beauty supplements among women in Asia.
Nevertheless, it is projected that Middle East and Africa will record the highest CAGR during the time covered by the forecast. According to estimates, the regional markets will be driven by the increased prevalence of nutritional deficiencies, rising worries about lifestyle problems, and rising product awareness. In addition, regional producers are coming out with new products in an effort to meet the ever-increasing demand from customers. One example is the launch, in November 2020, of halal minerals and multivitamins for women by Blue Angel Farm, a company based in the United Arab Emirates (UAE).
In October 2020, A line of vegan dietary supplements has been introduced by the nutrition company Unived. PCOS Management, which helps to maintain a regular menstrual cycle, PCOS Fertility, which helps to tackle difficulties connected to PCOS and fertility, and Biotin Gold, which helps to keep healthy hair, skin, and nails. All of these products are included in the line.
In December 2019, Collagen Enhancer, Hair, Skin & Nails with Biotin, and Relaxation & Sleep Support with Melatonin are just some of the goods that Skinnygirl and VirMax have worked together to bring to market thanks to their partnership.
In March 2021, Target and the wellness company Care/of worked together to launch a new line of vitamins in the retail industry. The range features multivitamins and prenatal supplements specifically formulated for female consumers. The product is designed to be utilised for a variety of purposes, including relaxation, energy, sleep, immunity, and concentration.