Hair Growth Supplements Market Size & Analysis Report By Type (Single Ingredient, Multi-Ingredient), By Formation (Powder, Tablets), By Distribution Channel, By Region and Segment Forecasts, 2023 - 2030

Report Overview

The Hair Growth Supplements Market was valued at 710.69 million in 2022 and expected to grow at CAGR of 15.3% over forecast period.

The rising prevalence of hair-related issues such as hair loss and thinning, which can be attributed to factors such as stress, aging, dietary deficiencies, and changing lifestyle patterns, is driving the Hair Growth Supplements Market. Hair growth supplements are becoming more popular as people become more aware of the importance of hair health and desire for lustrous, voluminous hair. Furthermore, the market benefits from ongoing research and development efforts, which lead to the development of more effective and scientifically supported supplements

The social and psychological impact of hair-related issues, as well as the influence of beauty and wellness trends, increase consumer interest in these products, making them a key driver in the hair growth supplements market.

Type Outlook

Based on Type, the Hair Growth Supplements Market is segmented in Single Ingredient, Multi-Ingredient. Single Ingredient segment accounted for largest share in 2022. The growing consumer demand for natural and simple solutions to hair-related issues such as hair loss and thinning is driving the Single Ingredient Hair Growth Supplements Market. These supplements, which typically contain a single active ingredient such as biotin, collagen, or saw palmetto, provide a targeted and simplified approach to promoting hair growth, making them an appealing option for those looking for a simpler solution. Furthermore, the growing understanding of the benefits of specific nutrients and botanical extracts for hair health, combined with the influence of beauty and wellness trends, contributes to the popularity of single-ingredient supplements.

Formation Outlook

Based on Formation, Hair Growth Supplements Market is segmented into Powder, Tablets. Tablets accounted for largest share in 2022.  Tablets are a popular choice for consumers because they provide a simple and mess-free way to consume hair growth supplements. Furthermore, the rising prevalence of hair-related issues, as well as the desire for thicker, healthier hair, contribute to the demand for these tablet-based products. Continuous research and development efforts in formulating effective hair growth supplements in tablet format benefit the market, catering to the needs of individuals seeking an efficient and systematic approach to improving their hair health. Furthermore, the impact of beauty and wellness trends, as well as the widespread availability of these products in the market, fuel the growth of the Tablets Hair Growth Supplements Market.

The market benefits from a growing understanding of the role of specific nutrients in promoting hair health, as well as a desire for a more personalized approach to addressing hair-related issues such as hair loss or thinning. Furthermore, the portability and potential for novel ingredient combinations in powdered supplements drive consumer interest, in line with rising wellness and beauty trends, making the Powder Hair Growth Supplements Market a dynamic and appealing segment of the hair care industry.

Distribution Outlook

Based on Distribution, Hair Growth Supplements Market is segmented into Pharmaceutical Stores, Supermarkets, Online stores, Specialty stores. Pharmaceutical Stores accounted for largest share in 2022.  The credibility and trust associated with pharmaceutical stores drive sales of Hair Growth Supplements, as consumers frequently rely on pharmacists' expertise and recommendations. Pharmaceutical stores are a reliable source for hair growth supplements because they ensure product quality and safety. Furthermore, because hair-related concerns such as hair loss and thinning are common, pharmaceutical stores serve as accessible and convenient outlets for consumers looking for effective solutions.

Furthermore, the impact of marketing and advertising campaigns, as well as the availability of various brands and product options, encourage impulse purchases and foster growth in this market segment. Supermarkets play an important role in making hair growth supplements accessible to a diverse demographic, thereby contributing to the market's growth.

Regional Outlook

Asia Pacific is emerged as leading market for Hair Growth Supplements Market in 2022. Several key factors are driving the Asia Pacific Hair Growth Supplements Market, including the region's growing population, rising disposable incomes, increasing urbanization, and changing lifestyles. The demand for hair growth supplements is increasing as more people seek solutions for hair loss and other hair-related issues. Furthermore, the cultural emphasis on hair and grooming, as well as the influence of beauty and wellness trends, help to drive market growth. The availability of a wide variety of hair growth supplements, many of which contain traditional herbal ingredients, corresponds to consumer preferences for natural and holistic solutions.

Scientific research and development efforts benefit the European market as well, with innovative formulations and natural ingredients gaining popularity among consumers looking for effective and safe solutions to their hair concerns. Furthermore, the region's robust healthcare infrastructure and high product quality and safety standards contribute to market expansion, making Europe a prominent market for hair growth supplements.

Recent Key Developments in Hair Growth Supplements Market

• In April 2023, Divi launched All-New Hair Vitamins to Boost Hair Care Routine & Promote a Healthy Scalp. Divi's Hair Vitamins are specially designed by experts to provide nourishment from the inside out, using clean, innovative ingredients.

• In January 2023, Nutrafol announced debut of hair supplements to the beauty retailer Sephora. Sephora will additionally be selling Nutrafol's first-ever Women's Vegan Hair Growth Nutraceutical, which will be available online this spring.

• In January 2023, Happy Head announced launch of All-in-One hair growth supercapsule with Finasteride, Minoxidil, and Vitamin D.

Hair Growth Supplements Market Report Scope

Hair Growth Supplements Market Segmentation

Type Outlook (Revenue, USD Million, 2018 - 2030)

• Single Ingredient
• Multi-Ingredient

Formation Outlook (Revenue, USD Million, 2018 - 2030)

• Powder
• Tablets

Distribution Outlook (Revenue, USD Million, 2018 - 2030)

• Pharmaceutical Stores
• Supermarkets
• Online stores
• Specialty stores

Hair Growth Supplements Market, Regional Outlook

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• Spain
• Russia
• France
• Italy

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia

CSA

• Brazil
• Argentina

MEA

• UAE
• Saudi Arabia
• South Africa