The Global Beauty Supplements Market is estimated to be valued at US$ 3252.27 Bn in 2024 and is expected to exhibit a CAGR of 8.8% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the beauty supplements are Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd. These players are focusing on new product launches and mergers & acquisitions to strengthen their footprint in the global market.
The growing demand for natural and organic beauty products is driving significant growth in the Beauty Supplements Market Size . Consumers are increasingly preferring products containing herbal and plant-based active ingredients over synthetic ones. This is prompting supplement manufacturers to offer more naturally-sourced options.
The market is also witnessing rapid expansion in Asia Pacific and Latin American countries. Rising living standards, growing health and beauty consciousness, and increasing spending capacity are fueling the uptake of dietary supplements in developing nations. Leading global players are actively targeting high-potential developing markets for sustainable long-term revenues.
Market Drivers
One of the key drivers of the beauty supplements market is growing preferences for non-invasive and internal solutions to achieve beauty and wellness goals. More consumers are relying on easy to consume supplements as an alternative to expensive beauty treatments and risky cosmetic procedures. The convenient dosage forms and perceivable results are boosting the popularity of beauty supplements. This is positively impacting the overall market revenues.
Impact of geopolitical situation on Beauty Supplements market growth
The ongoing geopolitical conflicts and economic downturn in several regions are negatively impacting the growth of the global beauty supplements market. Various disputes and sanctions between major countries are hindering international trade and investment flows. This is reducing the disposable income of consumers in these markets. Additionally, the decline in tourism and travel across borders due to security issues is affecting the demand for beauty supplements.
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