Hair Growth Supplement And Treatment Market Size, Share & Trends Analysis Report By Type (Supplements, Pharmaceuticals, Devices), By Region (North America, Europe, APAC, Latin America, MEA), And Segment Forecasts, 2024 - 2030

Market Size & Trends

The global hair growth supplement and treatment market size was estimated at USD 7.74 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.15% from 2024 to 2030. The market is witnessing a significant boost due to the increasing prevalence of hair loss disorders. This trend is expected to drive the demand for innovative solutions for hair care. The growing prevalence of hair loss disorders has become a concern worldwide, affecting individuals of all ages and genders which is expected to expand the market growth prospects. Factors such as genetics, hormonal imbalances, stress, poor nutrition, and environmental pollutants contribute to hair problems, making them widespread and persistent

The COVID-19 pandemic had a notable impact on the market. With widespread lockdowns and social distancing measures in place, many individuals prioritized personal health and self-care, including concerns related to hair health. This led to increased demand for hair growth supplements and treatments as people sought ways to address stress-related hair loss and other issues exacerbated by the pandemic. However, disruptions in the global supply chain and manufacturing delays hindered the availability of certain products, leading to price fluctuations and shortages in some regions. As the pandemic progressed, the market also saw a shift towards online sales and telehealth consultations, with a growing emphasis on e-commerce platforms and virtual consultations for hair-related issues. Overall, the COVID-19 pandemic has underscored the significance of health and well-being which is expected to positively affect the market in the near future.

The increasing prevalence of hair loss disorders is not limited to a specific age group or gender. It affects men and women across various age brackets, making it a universal concern. According to the National Library of Medicine, androgenetic alopecia impacts around 50 million men and approximately 30 million women across the U.S. This condition can commence as early as an individual’s teenage years, and the likelihood of experiencing it rises with age. Statistics show that over 50% of men aged 50 & above exhibit some level of hair loss. Whereas among women, the likelihood of hair loss tends to increase post-menopause. This broad demographic reach has made the market highly lucrative and diverse, catering to a wide range of customer needs. As a result, the market is expected to witness substantial growth in the near future.

The increasing prevalence of alopecia has also led several customers to seek natural, science-based, and advanced solutions to address alopecia and related issues. This has prompted companies to develop & market a plethora of hair growth supplements & treatments that promise efficacy and safety. Furthermore, advancements in research and technology have enabled the development of innovative alopecia solutions. Companies are investing heavily in research and development (R&D) to create novel & innovative products. For instance, in March 2023, Viviscal unveiled an array of topical hair care products designed to cater to the specific hair-related concerns of women. The collection included Viviscal Thickening Shampoo, Viviscal Strengthening Conditioner, and Viviscal Thickening Serum.

The rising awareness of healthcare has led to an increasing demand for products & treatments tailored to the unique needs and preferences of each customer. This shift toward personalization is reshaping the hair care industry and fueling innovation to develop specialized supplements & treatments. Moreover, individuals are increasingly adopting proactive steps to enhance their overall well-being and hair health, which is a vital factor propelling market growth. Furthermore, another factor driving the demand for personalized solutions is the recognition that hair health is not a one-size-fits-all issue. Hair loss and thinning can result from a wide range of factors, including genetics, hormonal imbalances, stress, diet, and environment. These factors can vary significantly from person to person, making it essential for individuals to have access to treatments that address their specific underlying causes.

Type Insights

Based on type, the hair growth supplement & treatment market is segmented into supplements, pharmaceuticals, and devices. The pharmaceutical segment held the largest revenue share of 88.50% in 2023. The pharmaceuticals segment is further segmented into oral and topical & injectable. Factors such as stress, pollution, genetics, and changing lifestyles have increased the number of individuals seeking pharmaceutical-based remedies to combat hair-related issues, which is expected to contribute to the market growth over the forecast period. Moreover, the introduction of prescription-based medications & over-the-counter pharmaceutical products has provided consumers with a wider range of options to choose from, further fueling the segment's growth.

The supplements segment is anticipated to grow at the fastest CAGR of 14.90% over the forecast period. The beauty industry has experienced a surge in popularity as people of all ages and genders seek to enhance their appearance. Healthy, luscious hair is a key aspect of one's overall aesthetic, driving many individuals to explore solutions for hair loss or slow growth. In addition, the modern lifestyle, characterized by high stress levels, poor dietary habits, and environmental pollution, can take a toll on hair health. As a result, consumers are turning to supplements as a convenient and seemingly effective way to combat these issues.

Regional Insights

The Asia Pacific region dominated the market with a revenue share of 45.71% in 2023. This can be attributed to the presence of unmet medical needs, positive economic growth, and increasing scientific research efforts which are some of the primary growth drivers of this market. In addition, an improved healthcare regulatory environment in high-growth nations is anticipated to draw in more foreign investors and encourage them to take the opportunities. Positive developments, such as government healthcare benefits, raised public knowledge, and a willingness to pay for advanced medical care, are anticipated to further fuel market growth.

Europe is anticipated to grow at a CAGR of 5.50% over the forecast period. The growing geriatric population and high prevalence of nutritional deficiency are boosting the hair growth supplement and treatment market in Europe. According to a report published by Eurostat in February 2023, the population in Europe is aging at a very high rate. In 2022, more than 21.1% of the European population was over age 65. Most Europeans are increasingly adopting dietary & nutritional supplements to reduce the effects of aging and improve their overall well-being. A growing number of dietary supplements are being formulated and launched in Europe to cater to the increasing demand from end users.

Key Companies & Market Share Insights

The key participants in the hair growth supplement & treatment business are implementing various strategic initiatives including partnerships and collaborations to retain their market presence. For instance, in September 2023, Alma Lasers collaborated with Kate Hudson on the 'Beyond The Trend' Campaign. The aim behind the collaboration is to highlight its best products including LMNT, PrimeX, and others. Moreover, in January 2023, Nutraceutical Wellness Inc. (Unilever) announced a partnership with Sephora U.S. to provide quality hair health supplements.

Several players are expanding their global footprint by establishing manufacturing facilities and distribution networks in key regions. This enables them to better serve their customers and respond to the growing demand for hair growth supplements & treatment on a global scale. For instance, in May 2023, Alma Lasers announced the opening of the fifth Alma Academy, as a part of the strategy for global expansion of its products and services.

Hair Growth Supplement And Treatment Market Report Scope

Global Hair Growth Supplement And Treatment Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global hair growth supplement and treatment market report based on type, and region:

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

  • Supplements

    • By Type

      • Single-ingredient

      • Multi-ingredient

    • By Form

      • Powder

      • Gummies & Soft Gels

      • Tablets

      • Capsules

      • Liquid

        • Serum

        • Shampoo

        • Others

    • By Distribution Channel

      • Hypermarkets/Supermarkets

      • Specialty Stores

      • Online Pharmacies

      • Drug & Pharma Stores

  • Pharmaceuticals

    • Oral

      • Propecia

      • Minoxidil

    • Topical & Injectable

      • Propecia

      • Minoxidil

      • Exosome-based Therapies

  • Devices

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait