PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1638971
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1638971
The global hair growth supplements market was valued at USD 719.13 million in 2023 and is expected to expand at a robust CAGR of 15.5% from 2024 to 2032. This growth is driven by increasing consumer awareness about the nutritional benefits of hair supplements, rising cases of hair loss due to stress and aging, and the demand for natural and organic hair care solutions. The shift from pharmaceutical to nutraceutical solutions for hair health has significantly propelled market demand, especially in light of higher safety profiles and the growing interest in preventive healthcare.
Hair loss caused by conditions such as alopecia, nutritional deficiencies, and the aftereffects of COVID-19 has fueled the adoption of hair growth supplements globally. Additionally, the increasing trend toward e-commerce has made these products more accessible to consumers. For instance, during the pandemic, Amazon witnessed a significant rise in online purchases of personal care supplements, emphasizing the growing shift in consumer buying behavior. Moreover, advancements in product formulations, such as the integration of vitamins, biotin, keratin, and essential oils, have further enhanced the appeal of hair growth supplements.
The market also benefits from the rising demand for vegan, herbal, and organic supplements. Companies are launching innovative products to cater to this demand. For example, OUAI introduced vegan hair-strengthening supplements in 2023, focusing on cruelty-free and plant-based solutions. Additionally, the robust growth in the middle-class population and increased disposable incomes are likely to support the expansion of the market over the forecast period.
Geographically, Asia Pacific dominated the market in 2024, accounting for 47.2% of the global revenue share, driven by a high prevalence of hair loss disorders, rising health awareness, and easy access to products through retail and online channels. North America and Europe are also significant markets, benefiting from advanced healthcare infrastructure, the growing trend of personalized nutrition, and consumer interest in high-quality, organic products.