Hair Supplements Market to Expand at CAGR of 11.5% during Forecast Period, States TMR Study

ALBANY, N.Y., Dec. 17, 2021 /PRNewswire/ — Transparency Market Research, New York: A study by Transparency Market Research (TMR) projects the global hair supplements market to exceed the valuation of US$ 2.86 Bn by 2031. Moreover, the market is estimated to witness prominent sales prospects in Europe and North America, owing to growing inclination of regional population toward consuming products that boost hair growth.

Companies are increasing the production of hair multivitamin gummies, which can help in proper working of oil glands surrounding the hair follicles. Furthermore, many players in the global hair supplements market are developing gummies that are rich in vitamin A, C, and E, which protects hair from free-radical damage.

The demand for biotin hair gummies is increasing, as they help in hair tissues repairing as well as hair strengthening. A case in point here is 100% vegan hair vitamin gummies being offered by, Bodywise, a manufacturer of self-care products. These gummies are specifically intended for women population. This factor is helping in the sales of the hair supplements market.

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Hair Supplements Market: Key Findings

  • Biotin Supplements Gain Prominence

Biotin supplements are gaining traction, owing to their ability to support hair growth. However, the use of such supplements can result in adverse effects such as skin rashes, kidney problems, and digestive upset. Hence, companies in the hair supplements market are encouraging consumers to follow recommendations offered by dieticians on best hypoallergenic, gluten-free, and cost-effective biotin supplements.

  • Rise in Demand for Hair Supplements in Capsule Form

Manufacturers are estimated to experience high demand for capsules, which is projected to become the highest revenue-generating segment in the near future. Moreover, players are observing rise in the demand for soy-free, gluten-free, and non-genetically modified organisms (GMO) hair supplement capsules. Moreover, they are also experiencing high demand for products with no artificial sweeteners and no sugar.

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  • R&D Projects Focus on Prevention of Follicle Shrinking and Hair Fall Control Using DHT Blockers

Companies are producing capsules that hold iron, zinc, and vitamin A, B-complex, C, and D. Such products are being increasingly adopted, as they help in promoting hair growth. Moreover, R&D activities are being carried out in capsules in order to boost their effectiveness in preventing follicle shrinking and hair fall using DHT blockers, including pine bark, pumpkin seeds, and stinging nettle.

Hair Supplements Market: Growth Boosters

  • Prevalence of zinc deficiency in female population across the globe is driving the demand for hair supplements
  • Growing consumer inclination toward use of clean label, chemical-free, and organic hair supplements for personal care is projected to create revenue opportunities in the hair supplements market
  • Rising awareness on advantages of hair supplements generates sales opportunities in the market

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Hair Supplements Market: Key Players

Some of the key players profiled in the report are:

  • GNC Holdings Inc.
  • Amway
  • InVite Health
  • OUAI HAIRCARE
  • Codeage LLC
  • Nutraceutical Wellness Inc
  • Source Naturals, Inc.
  • HUM Nutrition
  • The Bountyful Co.
  • Vital Proteins LLC
  • NutraChamps
  • Viva Naturals
  • KLAIRE LABS
  • PHILIP KINGSLEY PRODUCTS LTD
  • Life Extension
  • Hair La Vie
  • Nutrawise Health & Beauty Corporation
  • New Nordic Healthbrands AB
  • Brock Beauty Inc.
  • Country Life, LLC

Hair Supplements Market Segmentation

Type

  • Single Ingredient
  • Multi-ingredient

Nature

  • Organic
  • Conventional

Form

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

Sales Channel

  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Drugs & Pharma Stores
  • Online Retail

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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