Women Health & Beauty Supplement Market

The global women health & beauty supplement market size was valued at USD 52.25 billion in 2020 and is projected to register a substantial CAGR during the forecast period, 2021-2028. The market growth is attributed to increase in awareness among women for the need for intake of nutrients and inclination towards spending money on beauty and health supplements.

Factors such as high occurrence of imbalance of hormones due to poor diet habits, consumption of alcohol, and increase in stress level among women are pushing them to adopt a healthy lifestyle in order to prevent suffering from various diseases. Moreover, increase in number of working women globally present a vital aspect of the market expansion.

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As per a report by Catalyst in 2020, nearly 40% of the total female population are engaged in various types of labor. Additionally, the women population suffering from various disorders such as anemia, obesity, osteoporosis, osteoarthritis are increasing rapidly and such disorders are more common in women in postmenopause. A report by the World Health Organization (WHO) suggests that 18% of women above the age of 60 are likely to suffer from osteoarthritis among which 80% of women do limited movements and 25% of women are unable to perform daily tasks.

In another report published by WHO in 2016, 15% of female population is obese due to lack of physical activity, increasing intake of fatty products, and change in diet plans. One of the reports by the US Food and Drug Administration (FDA) published in 2019 suggested that women facing menopausal symptoms were advised to use several dietary supplements.

Several initiatives are taken by the government along with various organizations to create awareness among women and improve their health. For example, Current Good Manufacturing Practices (CGMPs) were established by the FDA so that the companies producing diet supplements should provide strength, should be pure, and the composition of the products should be correct.

According to the National Institute of Health (NIH), the testing or screening of various quality and seal on quality assurance on products are conducted by organizations such as U.S. Pharmacopeia, NSF International, and ConsumerLab.com to ensure good quality of supplements. The outbreak of COVID-19 had a significant impact on women health and supplement market. There is a rise in interest among women due to lead to unhealthy skin by wearing masks all the time and urge to develop a better immune system.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in awareness among women consumers regarding supplement products that contain vitamins, omega-3 for skincare & health, rising issues of mental health, and increase in geriatric population present a key driving factor of the market.
• Rise in number of disorders and chronic illness such as obesity, depression, and anemia are some of the postmenopause conditions among women is another key driving factor of the market.
• Several initiatives taken by various governments in association with other non-governmental organizations and women-based welfare organizations to spread women’s health awareness is expected to boost the growth of the market.
• Development and launch of new products that helps in the reduction of health problems such as osteoporosis that are linked to postmenopause is anticipated to propel the market growth.
• Complex policies such as regulatory complications, variations of judiciary decisions and technical aspects in regard to launch of products across different countries are expected to act as restraining factors for the market growth.

Scope of Women Health & Beauty Supplement Market Report

The report on the global women health & beauty supplement market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Women Health & Beauty Supplement Market Segment Insights

Enzymes segment is anticipated to register a rapid CAGR

On the basis of products, the women health & beauty supplement market is divided into minerals, vitamins, proteins, probiotics, botanicals, enzymes, and omega-3. The vitamins segment held a major share of the market in 2019 with over 35% of the total global share and is expected to grow at a substantial pace in the coming years. Vitamins-based supplement products are widely consumed by a large number of women population having various health issues such as hair loss, anemia, poor vision, and brittle nails due to intake of poor supplements and vitamins.

It is quite difficult to absorb the nutrition by traditional methods with the increasing age; therefore, there is an increase in demand for supplements and vitamins to get the required nutrition. Obesity cases among women are also increasing; therefore, awareness regarding proper nutrition intake, weight loss, and calorie intake are highly recommended by doctors and physicians to achieve a healthy lifestyle of women.

However, the enzymes segment is anticipated to register a rapid CAGR owing to the rise in the prevalence of intestinal diseases and increasing awareness to adopt nutraceuticals. Nowadays, people residing in urban area are increasing the intake of junk food that has resulted in developing several intestinal and digestive issues. This factor is anticipated to help the segment growth during the forecast period.

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Women health segment is expected to dominate the market

Based on applications, the market is bifurcated into beauty and women health. The beauty segment is further divided into haircare, skincare, nailcare, and others. The women health segment held a major part of the revenue share of more than 67.8% in 2019 and is expected to dominate the market in the coming year. The segment growth can be attributed to rise in incidence in deficiency of micronutrients, innovative multivitamin launch, and increase in the need for diet supplements by women especially in the stages of perimenopause, premenstrual, and prenatal.

Several formulations rich in vitamins, minerals, and bioactive materials in the form of liquids, pills, capsules, and powders are available as beauty supplements that also can help to provide nutrients to the human body with deficiency.

Age above 70 segment is anticipated to expand at a fast CAGR

On the basis of age groups, the women health & beauty supplement market is segmented into age 15-30, age 31-50, age 51-70, and age above 70. The market was dominated by the age 31-50 segment in 2019 due to high consumption of mineral beauty supplements and minerals by a large number of women of this age group. The use of these products is increasing due to rising awareness about several health issues such as urinary tract infections, belly fat, and muscle loss.

Apart from various initiatives have been taken by private and public organizations, many women are inclined to supplement intake as they are being influenced by social media and being economically independent. In order to increase awareness regarding liver health, a campaign was launched by Amsety and Fatty liver Foundation named as Kiss and Click campaign in 2019. Other initiatives and campaigns are also launched by the British Liver Trust and Institute of Liver and Biliary Sciences (ILBS) to create awareness regarding liver diseases and their early diagnosis.

The age above 70 segment is anticipated to expand at a fast CAGR over the forecast period owing to an increase in prevalence of issues including deficiency of Vitamin D leading to osteoporosis, hearing loss, osteoarthritis, cataracts, and problems related to heart. As per the reports of the Office on Women’s Health, women have equal risk to heart-related diseases, same as the men when they are in their 70’s.

Postnatal segment is anticipated to grow at a rapid pace

Based on the consumer groups, the market is divided into prenatal, postnatal, PMS, perimenopause, postmenopause, and others. The others segment held a large share of the market in 2019 owing to rising number of adult women population having poor diet habits and lack of nutrients including folic acid, vitamin C, selenium, vitamin C, and iodine. Consumption of unhealthy and junk food along with poor intake of nutrients is some of the factors that are expected to propel the demand of the products.

The postnatal segment, however, is anticipated to grow at a rapid pace during the forecast period. To refill the nutrients store is the major focus in postnatal women and intake sufficient nutrients in the lactation period. Women are highly concerned to lose postpartum weight even though they are breastfeeding at that time; this leads to intake of diet supplements that help in the weight loss and help them to achieve better health.

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Online segment is expected to expand at a fast pace

On the basis of sales channels, the women health & beauty supplement market is categorized as pharmacies/drug stores, direct sales, online, and other offline channels. The direct sales segment held a large share of the market revenue representing more than 33.5% in 2019 attributed to person-to-person sales, efficient services, and product demonstrations. The market segment is projected to boost significantly in the coming years due to the direct selling of products by companies. For example, the health supplements range named Nutrilite by Amway relies on direct sales channel.

On the other hand, the online segment is expected to expand at a fast pace during the forecast period attributed to easy online access, target marketing, and continuous efforts to improvise the online shopping experience by retailers. Adoption of online platforms to sell the products by a company is expected to increase the awareness among the consumers and is expected to improvise the online sales channels.

Middle East & Africa market is anticipated to face a robust growth

In terms of regions, the global women health & beauty supplement market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific held a key share of approximately 35% of the total market revenue share in 2019 owing to rise in awareness regarding nutritional products, an increase in digestive tract diseases, and an increase in the incidence of chronic diseases such as diabetes and cancer.

Another factor helping the segment growth is the rise in the adoption of a healthy diet to sustain fitness levels. In order to be aware and educate women regarding nutrition, several countries including India, Japan, China, Singapore, and Australia took various initiatives.

On the other hand, the market of Middle East & Africa is anticipated to register robust growth owing to increase in the millennial population, concerns regarding lifestyle diseases, and the rise in the number of the gyms opening. Moreover, the increase in number of initiatives taken by several government to create health awareness in the region is expected to further boost the market. In order to provide precise information to public employees and help them to adopt a healthy lifestyle by building a healthy work environment, an initiative named as National Happiness and Positivity program was implemented in 2018.

Segments

The global women health & beauty supplement market has been segmented on the basis of

Products

• Minerals
• Vitamins
• Proteins
• Probiotics
• Botanicals
• Enzymes
• Omega-3

Applications

• Beauty
  • Haircare
  • Skincare
  • Nailcare
  • Others
• Women Health

Age Groups

• Age 15-30
• Age 31-50
• Age 51-70
• Age Above 70

Consumer Groups

• Prenatal
• Postnatal
• PMS
• Perimenopause
• Postmenopause
• Others

Sales Channels

• Pharmacies/Drug Stores
• Direct sales
• Online
• Other Offline Channels

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Herbalife International of America Inc.
• GNC Holdings Inc.
• The Nature’s Bounty Co.
• Bayer AG
• Garden of Life (Nestle)
• Suntory Holdings Ltd.
• Taisho Pharmaceutical Co. Ltd.
• Swisse Wellness Pty. Ltd.
• Pharmavite LLC.
• Pfizer Inc.
• Blackmores; Fancl Corp.
• Asahi Group Holdings
• Usana Health Sciences
• Nu Skin Enterprises; By Health Co. Ltd.
• Revital Ltd.
• The Himalaya Drug Co.
• Vita Life Sciences
• Grape King Bio Ltd.
• Standard Foods Corp.

Competitive Landscape

Key players competing in the global women health & beauty supplement market include Herbalife International of America Inc.; GNC Holdings Inc.; The Nature’s Bounty Co.; Bayer AG;Garden of Life (Nestle); Suntory Holdings Ltd.; Taisho Pharmaceutical Co. Ltd.; Swisse Wellness Pty. Ltd.; Pharmavite LLC.; Pfizer Inc.; Blackmores; Fancl Corp.; Asahi Group Holdings; Usana Health Sciences; Nu Skin Enterprises; By Health Co. Ltd; Revital Ltd.; The Himalaya Drug Co.; Vita Life Sciences; Grape King Bio Ltd.; and Standard Foods Corp.

Many of these players have adopted business strategies such as launching new products, introducing new technology, merger, partnership, and production capacity expansion to increase their market position and expand their consumer base globally. Lycopene is a very famous ingredient extracted from and is widely used to produce beauty supplements. Companies such as L'Oréal and Nestlé are leading brands in producing beauty lycopene-based beauty supplements for hair and skin.