Hair Growth Supplements Market Size, Share & Trends Analysis Report By Type (Single Ingredient, Multi-Ingredient), By Form, By Distribution Channel, By Region, And Segment Forecasts, 2023 To 2030

Hair growth supplements or hair supplements are the kind of dietary supplements that promote healthy hair growth. These formulations contain a blend of multivitamins, minerals, and other nutrients that stimulate scalp and promote healthy hair growth. The common ingredients of hair growth supplements include multivitamins, iron, zinc, keratin etc. Excessive hair loss from numerous conditions & risk factors coupled with increasing awareness of maintaining healthy hair have fueled an adoption of hair growth supplements. 

The increasing awareness about nutritional health benefits of health supplements, easy availability of products, and increasing number of health-conscious people are projected to drive global market. Moreover, the rising preference for organic and chemical free hair supplements coupled with new product launches with minimal side effects are further contributing to market expansion. For instance, in May 2023 Ludwig Enterprises announced its plans to launch a new nutraceutical in the hair loss market. With this launch the company is planning to expand its direct-to-consumer marketing strategy. 

Moreover, the rising prevalence of hair loss conditions, ageing population and robust product availability through various platforms are other factors supporting market growth. For instance, according to National Alopecia Areata Foundation nearly 700,000 people in the U.S. have some form of alopecia areata. Thus, the high prevalence of hair thinning conditions has led to increased demand for hair supplements. In addition, the availability of a wide range of products through different platforms at reasonable prices has also propelled the adoption of these products.

The market is segmented based on type, form, distribution channel, and region. Based on type the market is bifurcated as single ingredient and multi-ingredient. Based on form the global market is segmented as gummies & soft gels, powder, liquid, capsules, and tablets. Furthermore, on the basis of distribution channel the market is classified as specialty stores, supermarkets/hypermarkets, online pharmacies, and drug & pharma stores. 

North America held the largest revenue share of the global market. The high growth of region is accounted to high awareness among people, high disposable income, easy access to products owing to highly developed retail chains such as, Walgreens, CVS Pharmacy, Health Mart. Moreover, rising trend for preventive healthcare is another factor accelerating regional market. However, Asia Pacific is likely to grow at a high growth rate in the forecast period. Furthermore, owing to the highly fragmented nature of the market, the companies are undertaking several initiatives to sustain market competition. For instance, in January 2023, Nutrafol partnered with Sephora U.S. and with this partnership the product will be available at Sephora.com. Nutrafol is the most recommended hair growth supplement brand by dermatologists.

                  Hair Growth Supplements Market Segmentation 

Key players operating in the market include Nutraceutical Wellness Inc.; Viviscal Limited.; Amway; GNC; OUAI HAIRCARE; InVite Health.; codeage LLC; Viva Naturals; KLAIRE LABS; Hair La Vie.