Women Health and Beauty Supplements Market Expected to Reach $206.88 Billion by 2030

According to a new report published by Allied Market Research, titled, “Women health and beauty supplements market by product, consumer group, application, distribution channel and region: global opportunity analysis and industry forecast, 2021–2030," The global women health and beauty supplements market size was valued at $57.28 billion in 2020, and is expected to reach $206.88 billion by 2030 at a CAGR of 12.4% during the forecast period.

Women health and beauty supplements have become increasingly popular among the global population. This trend is growing, owing to the fact that people have become increasingly health conscious and are inclined toward buying these supplements.

Women have special nutrition needs due to hormonal changes, which occur particularly with conditions such as pregnancy, menstruation, and menopause that alter recommended daily intake of nutrients. Most diseases such as iron-deficiency anemia, heart disease, osteoporosis, type 2 diabetes, and some types of cancer affects women and have a scientific connection to nutrition. In addition, many women look to nutrition for the management of pre-menstrual and menopausal symptoms. Working population has been driving the foods & beverages market as well as with their growing awareness and need have creating new trends in the women health and beauty supplements market.

Growth in consumption of health supplements and rise in incidences of chronic diseases propel the women health and beauty supplements market growth. However, the market is expected to witness a slow growth during the forecast period, owing to unpredictable side effects of health and beauty supplements.

As per the industry experts, long term effect of COVID-19 outbreak is expected to be witnessed in the coming years. The outbreak has led to a situation of financial crisis in many countries. During the first quarter of 2020, coronavirus spread led to country wide lockdowns. Initially, these lockdowns disrupted product supply chain and raw material collection. Manufacturing facilities were also shutdown with increase in spread of the coronavirus, which, in turn, hampered growth of many industries. However, the health and beauty industry has shown a significant growth, owing to nutritional benefits of these supplements and recommendations by healthcare authorities to incorporate them in day-to-day life as immunity boosters.

Increase in number of aging populations worldwide is also a major factor that propels the women health and beauty supplements market growth. According to the statistics times, the population of females in the world is estimated at 3,905 million, representing 49.58% of the world population. Moreover, there is a positive correlation between elderly individuals and increase in incidences of disorders such as bone & joint and cardiovascular disease, which, in turn, increases demand for women health and beauty supplements.

RTD (ready to drink) dietary supplements have gained a huge popularity among people in recent years. It has presented highly lucrative business opportunities for the market players as it offers desired nutritional value along with convenience of storage and consumption. This is thus expected to help fuel growth of the global women health and beauty supplements market.

On the basis of product, the vitamins & mineral segment is expected to dominate the market throughout the forecast period. Research studies have found that these supplements can help curb down levels of homocysteine. Moreover, they also help in enhancing levels of B12 and B6 vitamins in body, which plays a critical role in brain development. Such health benefits also help in reducing risk of brain disorders such as Alzheimer syndrome and are used as post and pre-natal essential nutrients. Hence, all these factors fuel growth of the global women health and beauty supplements market.

On the basis of application, the women health segment is expected to dominate the market throughout the forecast period. This attributed to increase in awareness regarding health and prevalence of chronic diseases among women.

On the basis of distribution channel, the hypermarkets/supermarkets segment dominated the global market in 2020, owing to presence of hypermarkets/supermarkets including health clubs such as Amway (Nutralite) and Vitamin Shoppe across the globe.

North America accounted for a major share of the global women health and beauty supplements market in 2020, and is expected to remain dominant throughout the forecast period. In addition, Asia-Pacific is projected to register the second highest CAGR of 15.50% during the forecast period, owing to increase in incidences of diabetes, obesity, joint & muscle pain, high blood pressure, low bone density, menopause, and others. Moreover, increase in healthcare expenditure and introduction of interventional products such as beauty supplements offer a lucrative opportunity for the market growth.

Key Findings Of The Study

• The study provides an in-depth analysis, current trends, and future estimations of the global women health and beauty supplements market to elucidate imminent investment pockets.
• By product, the vitamins & minerals segment is anticipated to grow at a CAGR of 13.7% from 2020 to 2030.
• By application, the women health segment is anticipated to grow at a CAGR of 14.6% from 2020 to 2030.
• By distribution channel, the hypermarkets/supermarkets segment is anticipated to grow at a CAGR of 13.3% from 2020 to 2030.
• By consumer group, the premenstrual syndrome segment is anticipated to grow at a CAGR of 14.2% from 2020 to 2030.
• Extensive analysis of key segments of the industry help to understand the types of products used across various regions.