Women Health & Beauty Supplements Market Size, Share & Trends Analysis Report By Product (Vitamins, Mineral, Enzymes, Botanicals), By Application, By Age Group, By Consumer Group, By Sales Channel, And Segment Forecasts, 2020 - 2026

Report Review

The global women health and beauty supplements market size was valued at USD 49.8 billion in 2019 and is projected to expand at a compound annual growth rate (CAGR) of 4.75% from 2020 to 2026. Rising incidences of hormonal imbalances as a consequence of poor dietary habits, increasing stress levels, and alcohol consumption is driving the market growth. Increasing awareness regarding preventive health practices and the presence of a large women population suffering from menstrual disorders is also boosting the product demand. Moreover, rising geriatric population, mental health issues, and increasing prevalence of chronic diseases like cancer and cardiovascular diseases will boost growth.

Growing awareness among women regarding nutritional requirements along with increasing consumer willingness to spend on health and beauty supplements is anticipated to drive the market expansion. Furthermore, increasing participation of the female population in all aspects of the workforce is a key growth driver. According to a report published by Catalyst in January 2020, women accounted for around 40% of the total labor force globally. The rise in middle-class population, which is the largest consumer group coupled with the increasing prevalence of micronutrient deficiency among women, further boosts the demand for health and beauty supplements. In addition, a rise in disposable income and the number of sales channels with further improve product accessibility.

Postmenopause female population is more susceptible to diseases such as anemia, osteoporosis, osteoarthritis (OA), fibromyalgia, obesity, and depression. According to the World Health Organization (WHO), 18.0% of women above 60 years have osteoarthritis globally out of which 80% have movement limitations and 25% are not able to perform major activities of daily life. In August 2019, the Food and Drug Administration (FDA) reported that women use various dietary supplements to deal with menopausal symptoms. According to the WHO, in 2016, 15% of women were obese owing to a higher intake of fat-constituted products, rising physical inactivity, and changes in dietary patterns. High prevalence of such conditions post menopause is one of the key factors driving the adoption of such supplements.

Favorable initiatives taken by governments and other organizations in creating awareness and improving women’s health is also driving the market growth. For instance, the FDA established Current Good Manufacturing Practices (CGMPs) for dietary supplements that companies should follow to ensure the purity, strength, and composition of the products. According to the National Institute of Health (NIH), independent organizations like NSF International, U.S. Pharmacopeia, and ConsumerLab.com offers quality testing and mark a seal of quality assurance on products that pass these tests.

New product developments that help reduce the risk of health problems associated with post-menopause-like osteoporosis is expected to increase the acceptance of the product. Changing dietary habits and inadequate nutrient consumption is also responsible for causing fertility issues and other problems in women. According to the WHO, hot flashes are experienced by 73% of postmenopausal women, and the sleep disturbances and fatigue associated with it are likely to increase their dependence on certain medications.

Product Insights

In 2019, vitamins held the highest share of over 35% in the women's health & beauty supplements market. Rising awareness regarding health issues, changing lifestyles, rising disposable incomes, and poor vitamin and supplements intake leading to various issues, such as poor vision, hair loss, brittle nails, and anemia, are the factors driving the growth. Absorption of vitamins through traditional food becomes difficult with increasing age which is anticipated to contribute to the demand for nutrient fulfillment through vitamins and supplements. For instance, Nutri Advanced multi-vitamin tablet, Multi Essentials for women, supports bone health, hormonal imbalance, and premature aging.

Rising prevalence of obesity and the health issues associated with it are anticipated to drive the demand for supplements in near future. Awareness regarding calorie intake, weight loss, and proper nutrition while maintaining their lifestyles is increasing the adoption of the products globally. Other factors boosting the growth include sedentary lifestyles, growing population, rising disposable income, and increasing consumer spending on health and wellness products.

Enzymes segment is expected to register a CAGR of 7.3% during the forecast period. Increasing intestinal diseases, rising awareness towards the adoption of nutraceuticals owing to various benefits are the key factors driving the growth. Increased intake of junk food by urban population is resulting in various digestive issues, which is expected to increase the growth of enzymes segment.

Sales Channel Insights

In 2019, direct sales channel accounted for the highest revenue share of over 35% owing to efficient service, personal demonstration of products, and person to person selling. Preference of convenience due to evolving lifestyles and rising presence of direct selling companies is further boosting the segment growth. For instance, Amway relies on direct sales channel to sell its Nutrilite range of health supplements in the market.

Online sales channel is anticipated to be the fastest-growing segment over the forecast period. Retailers’ effort in improving online shopping experience through online education, target marketing, convenient, and easy online access is expected to boost the segment growth in the near future. Adoption of various online platforms like Amazon by companies to sell the products is also increasing consumer awareness about the product and rising preference for online sales channels.

Application Insights

In 2019, women’s health supplements held the highest revenue share of over 68.1%. The segment is expected to maintain its dominance over the forecast period and is estimated to expand at the fastest growth rate of 4.91%. Large consumer pool, increase in the prevalence of micronutrient deficiency, rise in the need for dietary supplements by women, mainly in prenatal, premenstrual, and perimenopause stages; and launch of innovative multivitamin, vitamin, and mineral supplements by key players are some of the major factors driving the growth. Majority of the companies are focusing on upgrading their product categories in order to sustain their position in the market as the health and nutrition industry is gradually growing.

Beauty supplements can also help treat nutritional deficiency in human body. These are available in different formulations including pills, capsules, liquids, and powder; and are rich in minerals, vitamins, and bioactive ingredients that help in improving external appearance. The beauty supplements market is mainly driven by rising health and beauty concerns among women globally. Various beauty supplements and products are being launched to attract new consumers. Lycopene, a potent carotenoid extracted from tomatoes, is used as the most popular ingredient in beauty supplements. A number of companies are focusing on manufacturing beauty supplements with lycopene as the key ingredient. For instance, Inneov, a joint venture between L'Oréal and Nestlé, is a leading brand of lycopene-based beauty supplements for skin and hair care.

Age Group Insights

The age of 31 to 50 segment dominated the market for women health and beauty supplements with revenue share of over 40% in 2019 and was valued at over USD 20 billion. This is the largest consumer pool for multivitamin or mineral beauty supplements. Women in this age group being highly aware, independent, and influenced by social media is a key factor for the highest revenue share. The above 70 years of age segment is expected to grow lucratively owing to the highest number of women consumers.

Changes in nutritional needs and metabolism rates, a drop in estrogen level, rising fertility issues, increasing the risk of chronic diseases like cancer, diabetes, osteoporosis, and other wellness issues is likely to boost the market. Awareness regarding health issues like bone and muscle loss, belly fat, Urinary Tract Infections (UTI), and prolapse is leading to higher adoption of these products.

Various public and private organizations are taking initiatives to increase awareness about liver health to support product demand. For instance, in March 2019, a Kiss and Click campaign is launched by Amsety and Fatty liver Foundation to increase awareness related to liver health. The British Liver Trust is also launching various campaigns to increase awareness regarding different types of liver diseases and promoting early diagnosis. Institute of Liver and Biliary Sciences (ILBS) is undertaking various initiatives in the form of campaigns to create awareness regarding hepatitis and overall liver health.

The above 70 years segment is anticipated to expand at the highest CAGR of 6.9% during the forecast period. Increasing issues such as hearing loss, cataracts, deficiency of Vitamin D leading to osteoporosis, osteoarthritis, and heart problems is expected to increase the acceptance and adoption of women's health and beauty supplements in this age group. According to the report published by Office on Women’s Health, women in their 70s have a similar risk of heart diseases as of men. According to AARP, one in three women has osteoporosis which increases the chances of hip and spine fractures.

Consumer Group Insights

Others segment accounted for the highest revenue share of over 30% in 2019. Poor dietary habits and lack of nutrients like iodine, selenium, folic acid, Vitamin D, Vitamin C, and other significant nutrients in the diet is boosting the adoption of health supplements among adolescent and adult women. Malnutrition owing to poor nutrition intake and consumer shift towards unhealthy food habits is one of the key factors boosting the product demand in this segment. According to the Population Reference Bureau, supplements might improve the pregnancy outcomes and overall health of underweight adolescent girls.

The postnatal segment is expected to be the fastest-growing segment over the forecast period. The key nutritional focus in postnatal women is to replenish the nutrient stores (e.g., calcium, vitamin B6, and folate) and achieve adequate nutrients intake during the lactation period. Despite concerns associated with breastfeeding, several women are majorly concerned about losing postpartum weight, thereby more inclined toward consumption of dietary supplements, which help in weight loss and achieve better health. Women who are reluctant to consume adequate diet or the ones in high-risk categories—women who carried more than one fetus—are significantly benefited by low-dose intake of multivitamin mineral supplements prescribed during pregnancy. Women aged 25 to 49 represent the largest part of prenatal and postnatal consumer groups. Thus, presence of a large target population is expected to generate high demand for women’s health supplements

Regional Insights

Asia Pacific accounted for the highest revenue share of over 35% in 2019. Rising disposable income, increasing prevalence of chronic diseases like cancer and diabetes, rising digestive tract diseases, and growing consumer awareness about nutritional products is propelling the regional product demand. Increasing focus on a healthy diet to maintain fitness levels is also boosting the demand for women’s health and beauty supplements.

Initiatives by countries like India, China, Australia, Singapore, and Japan to create awareness and to educate women regarding nutrition is also boosting the growth of the Asia Pacific market. For instance, In September 2016, Ministry Of Health, Australia announced to raise AUD 5.6 million in funds till 2019 to Jean Hailes, a health organization for women. This initiative is undertaken to help the organization in expanding its education and outreach.

Middle East and Africa is anticipated to be the fastest-growing segment over the forecast period. Increasing number of gyms, concerns related to lifestyle diseases, and growing millennial population is likely to boost the regional supplements market. Rising focus of government regarding creating health awareness is anticipated to drive the dietary supplements market in the near future. For instance, in 2018, an initiative known as the National Happiness and Positivity program is introduced by government which aims to provide right information to public employees to help them adopt healthy habits and building a work environment that supports a healthy lifestyle.

Key Companies & Market Share Insights

Increasing investments in R&D, mergers and acquisitions, collaborations with other industry players, geographic expansions, and product and flavor differentiation are among the key strategies adopted by the market players for gaining a competitive edge. In December 2018, Pfizer, Inc. signed an agreement with GlaxoSmithKline plc (GSK) to combine their consumer health business into a new joint venture, with combined sales of about 12.7 USD billion. The joint venture was expected to be a category leader in respiratory, pain relief, digestive health, therapeutic oral health, skin health, vitamin, and mineral supplements. Some of the prominent players in the women health & beauty supplements market are:

• Herbalife International of America Inc.

• GNC Holdings Inc.

• The Nature’s Bounty Co

• Bayer AG

• Garden of Life (Nestle)

• Suntory Holdings Limited

• Taisho Pharmaceutical Co. Ltd.

• Swisse Wellness Pty. Ltd.

• Pharmavite LLC

• Pfizer Inc.

• Blackmores

• Fancl Corporation

• Asahi Group Holdings

• Usana Health Sciences

• Nu Skin Enterprises

• By Health Co. Ltd

• Revital Ltd.

• The Himalaya Drug Company

• Vita Life Sciences

• Grape King Bio Ltd.

• Standard Foods Corporation

Women Health & Beauty Supplements Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research, Inc. has segmented the global women health and beauty supplements market report on the basis of product, application, age group, consumer group, sales channel, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2026)

  • Vitamins

  • Minerals

  • Enzymes

  • Botanicals

  • Proteins

  • Omega-3

  • Probiotics

• Application Outlook (Revenue, USD Million, 2014 - 2026)

  • Beauty

    • Skin Care

    • Hair Care

    • Nail Care

    • Others

  • Women’s Health

• Age Group Outlook (Revenue, USD Million, 2014 - 2026)

  • Age 15-30

  • Age 31-50

  • Age 51-70

  • Above 70 Years

• Consumer Group Outlook (Revenue, USD Million, 2014 - 2026)

  • Prenatal

  • Postnatal

  • PMS

  • Perimenopause

  • Postmenopause

  • Others

• Sales Channel Outlook (Revenue, USD Million, 2014 - 2026)

  • Online

  • Direct Sales

  • Pharmacies/ Drug Stores

  • Other Offline Channels

• Regional Outlook (Revenue, USD Million, 2014 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Russia

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East Africa

    • South Africa

    • Saudi Arabia

    • UAE