According to the latest report published by Credence Research, Inc. “Global Beauty Supplements Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global beauty supplements market accounted for US$ 4,119 Mn in 2017 and expected to reach US$ 9,322 Mn by 2026, expanding at a CAGR of 9.5% from 2018 to 2026.
Browse the full report at https://www.credenceresearch.com/report/beauty-supplements-market
The global beauty supplements market is growing at a fast pace and is anticipated to attain significant market size over the next few years. Increasing concerns of people towards their aesthetic appeal, appearance and looks along with augmented spending power has strengthened the growth of beauty supplements market over the past few years. The global beauty supplements market expected to reach US$ 9,322 Mn by 2026, expanding at a CAGR of 9.5% from 2018 to 2026.
The beauty supplements market is highly fragmented owing to the presence of various large and small companies. Small companies provide handful of specialty products; yet major players undertake extensive R&D programs to standardize their products. In global beauty supplements market, vendors compete in terms of product differentiation, price, promotion and mode of distribution. The competition in the market projected to intensify with an increase in consumer awareness and product innovations among others.
The global beauty supplements market is segmented based on applications into skin care, hair care, nail care, dental care and others (overall health supplements). The skin care segment dominated the global beauty supplements market and accounted for more than 33% share of the total market in 2017, followed by the hair care segment.
Based on geographical distribution, global beauty supplements market segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In the base year 2017, Europe was observed as the largest market for beauty supplements. The global beauty supplements market is mainly concentrated in Western Europe (Germany, U.K., Spain, Italy and France) and expected to influence owing to higher disposable income possessed by the consumers along with rising concerns of people towards their appearance and external outlook.
Beauty supplement manufacturers are highly concentrated in North America and Europe region. Amway, BeautyScoop, HUM Nutrition, Inc., IMEDEEN (Pfizer, Inc.), Lifes2good, Inc., Meiji Holdings Co., Ltd., Murad UK Ltd., NeoCell Corporation, Reserveage Nutrition, LLC., Vemedia and Vitabiotics Ltd. are few key manufacturers in the global beauty supplements market.