Dublin, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The "Hair Growth Supplements Market Size, Share & Trends Analysis Report By Type (Single Ingredient, Multi-Ingredient), By Form (Powder, Tablets), By Distribution Channel, By Region, And Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global hair growth supplements industry is set to witness remarkable growth, anticipating to reach a market size of USD 1.92 billion by 2030, at a CAGR of 14.7% from 2023 to 2030. This surge is attributed to the rising awareness of nutritional advantages of supplements, widespread product availability, and the increasing trend towards preventive healthcare and preference for herbal products. The growing demand for organic and chemical-free supplements further opens a plethora of opportunities for product pioneers.
One of the pivotal drivers behind this accelerated growth includes the escalating concerns of hair loss among the aging population, coupled with heightened demand from younger and middle-aged demographic segments. The National Alopecia Areata Foundation reveals that almost 700,000 individuals in the U.S. suffer from some form of alopecia areata, emphasizing the urgency for effective hair growth solutions.
The industry is also witnessing an influx of innovative solutions. For instance, Ludwig Enterprises, in May 2023, unveiled its plans to introduce a novel nutraceutical targeting hair loss. In March 2023, Hairburst launched an advanced vitamin range aiming to foster healthy hair growth and counteract harmful side effects.
Key insights from the report:
- The single-ingredient segment dominated the market in 2022, accounting for a whopping 74.7% revenue share. This can be linked to the increasing geriatric population, burgeoning consumer interest in nutritional products, and frequent product launches.
- Capsules emerged as the reigning form, securing a revenue share of 50.3% in 2022. It's also projected to showcase the highest CAGR during 2023 - 2030.
- Drug and pharma stores surfaced as the dominant distribution channel, holding a revenue share of 35.3%, thanks to the vast number of drug stores offering supplement-centric products and state-of-the-art healthcare infrastructures.
- Asia Pacific region led the global market with a staggering revenue share of 46.41% in 2022, owing to heightened awareness, rising disposable income, and easily accessible products facilitated by well-established retail pharmacy chains.
Prominent industry players include Nutraceutical Wellness Inc. (Unilever), Viviscal Limited. (Church & Dwight), Amway, GNC Holdings, Inc. (Harbin Pharmaceutical Group), OUAI HAIRCARE (P&G), and more.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $651.7 Million |
| Forecasted Market Value (USD) by 2030 | $1920 Million |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/7avaca
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