The biotin supplement market was valued at $583.4 million in 2021 and is projected to reach $1,410.9 million by 2031, registering a CAGR of 9.1% from 2022 to 2031. In 2021, the capsule biotin supplements segment accounted for the majority of the total biotin supplements market. Vitamin B-7 Biotin, also known as vitamin H, is an essential nutrient that is a water-soluble vitamin that is found naturally in some foods and is also available as a dietary supplement. It aids in the treatment of biotin deficiency as well as the care of hair, skin, and nails.
Biotins are naturally derived chemicals that we require for processes such as growth, reproduction, and overall health. The increased preference for biotins in the daily diet for self-care has emerged as an important component of modern customers' lifestyle. The increased emphasis on health and immunity has resulted in a significant shift in consumer food habits. There has been an increase in the use of biotins, minerals, and foods that boost immunity, organic goods, supplements, and other dietary aids. According to the National Library of Medicine, biotin deficiency causes a variety of clinical manifestations, the most common of which are neurological and dermal abnormalities. Biotinidase deficiency is the most common aetiology in many countries, including the United States, and screening for biotinidase deficiency is part of the newborn screening programme. In addition, as a result of COVID-19, people began focusing on their diet in order to improve their immunity. Such factors are expected to drive the biotin supplements market forward.
Many foods contain biotin. Biotin levels can be obtained by eating a variety of foods such as meat, fish, eggs, organ meats (such as liver), seeds, and nuts. The surge in demand for organic food may stymie the growth of the biotin supplements market because, according to the National Institutes of Health Office of Dietary Supplements, biotin, a B biotin, is an essential nutrient that is naturally present in some foods, so consuming food eliminates the need for biotin supplements. Animal-based protein sources with high biotin content include beef liver, chicken liver, salmon, and eggs, and the rise in demand for organic animal-based protein, as well as an increase in health consciousness and awareness about healthy food habits among the global population, is encouraging consumers to choose organic food products, which may impede market growth.
An online pharmacy is a vendor who sells medicines over the internet, and it includes both legitimate and illegitimate pharmacies. Biotin supplements can be easily purchased online by consumers. Because it offers home delivery and allows them to learn about the product's distribution channel while sitting at home. The number of online pharmacies is rapidly increasing around the world. Consumers can take advantage of various offers and discounts from online pharmacies such as Apollo, Netmeds, Pharmeasy, and others. A surge in the number of online pharmacies will provide opportunities for market growth. According to an Invest India report, Indian e-pharmacies that emerged around 2015 disrupted the market and gained traction quickly. There are currently close to 50 e-Pharmacies in India, with estimates putting the market size (2019) at $0.5 billion, or approximately 2-3% of total Indian pharmacy sales. The market is expected to grow at a compounded rate of 44% to $4.5 billion by 2025. Such an increase in e-pharmacies is expected to create a significant opportunity for market growth.
The biotin supplement market is segmented on the basis of form, distributional channel, application, and region. By form, the market is divided into capsules, tablets, soft gels, liquid, gummies, and powders. By distributional channel, the market is further divided into supermarkets, specialty stores, and e-commerce. By application, the market is classified into pharmaceuticals, skin-care, health-care, and nail-care. By region, the market is analyzed across North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Some of the major players analyzed in this report are Church & Dwight Co. Inc.,, Designs for Health, Inc., Doctor's Best Inc., LIfe Extension, Nestle S.A., Neutraceutical Corporation, NOW Health Group, Inc., SBR Nutrition, SolaGarden Naturals, Sports Reseach Corporation, Vytalogy Wellness, L.L..C., Zenwise, LLC.
Biotins are naturally derived chemicals that we require for processes such as growth, reproduction, and overall health. The increased preference for biotins in the daily diet for self-care has emerged as an important component of modern customers' lifestyle. The increased emphasis on health and immunity has resulted in a significant shift in consumer food habits. There has been an increase in the use of biotins, minerals, and foods that boost immunity, organic goods, supplements, and other dietary aids. According to the National Library of Medicine, biotin deficiency causes a variety of clinical manifestations, the most common of which are neurological and dermal abnormalities. Biotinidase deficiency is the most common aetiology in many countries, including the United States, and screening for biotinidase deficiency is part of the newborn screening programme. In addition, as a result of COVID-19, people began focusing on their diet in order to improve their immunity. Such factors are expected to drive the biotin supplements market forward.
Many foods contain biotin. Biotin levels can be obtained by eating a variety of foods such as meat, fish, eggs, organ meats (such as liver), seeds, and nuts. The surge in demand for organic food may stymie the growth of the biotin supplements market because, according to the National Institutes of Health Office of Dietary Supplements, biotin, a B biotin, is an essential nutrient that is naturally present in some foods, so consuming food eliminates the need for biotin supplements. Animal-based protein sources with high biotin content include beef liver, chicken liver, salmon, and eggs, and the rise in demand for organic animal-based protein, as well as an increase in health consciousness and awareness about healthy food habits among the global population, is encouraging consumers to choose organic food products, which may impede market growth.
An online pharmacy is a vendor who sells medicines over the internet, and it includes both legitimate and illegitimate pharmacies. Biotin supplements can be easily purchased online by consumers. Because it offers home delivery and allows them to learn about the product's distribution channel while sitting at home. The number of online pharmacies is rapidly increasing around the world. Consumers can take advantage of various offers and discounts from online pharmacies such as Apollo, Netmeds, Pharmeasy, and others. A surge in the number of online pharmacies will provide opportunities for market growth. According to an Invest India report, Indian e-pharmacies that emerged around 2015 disrupted the market and gained traction quickly. There are currently close to 50 e-Pharmacies in India, with estimates putting the market size (2019) at $0.5 billion, or approximately 2-3% of total Indian pharmacy sales. The market is expected to grow at a compounded rate of 44% to $4.5 billion by 2025. Such an increase in e-pharmacies is expected to create a significant opportunity for market growth.
The biotin supplement market is segmented on the basis of form, distributional channel, application, and region. By form, the market is divided into capsules, tablets, soft gels, liquid, gummies, and powders. By distributional channel, the market is further divided into supermarkets, specialty stores, and e-commerce. By application, the market is classified into pharmaceuticals, skin-care, health-care, and nail-care. By region, the market is analyzed across North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
Some of the major players analyzed in this report are Church & Dwight Co. Inc.,, Designs for Health, Inc., Doctor's Best Inc., LIfe Extension, Nestle S.A., Neutraceutical Corporation, NOW Health Group, Inc., SBR Nutrition, SolaGarden Naturals, Sports Reseach Corporation, Vytalogy Wellness, L.L..C., Zenwise, LLC.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biotin supplement market analysis from 2021 to 2031 to identify the prevailing biotin supplement market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the biotin supplement market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global biotin supplement market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Distributional Channel
- Supermarkets/Hypermarkets
- Specialty store
- E-commerce
By Application
- Nail-care
- Pharmaceutical
- Skin-care
- Hair-care
By Product Form
- Capsules
- Tablets
- Soft Gels
- Liquid
- Gummies
- Powders
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa,
- Saudi Arabia
- UAE
- Rest of LAMEA
Key Market Players
- Church & Dwight Co., Inc.
- Nestle S.A.
- Nutraceutical Corporation
- Vytalogy Wellness, L.L.C.
- Zenwise, LLC
- SBR Nutrition
- Doctor's Best, Inc.
- Sports Research Corporation
- NOW Health Group, Inc.
- Life Extension
- Designs for Health, Inc.
- SolaGarden Naturals
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIOTIN SUPPLEMENT MARKET, BY PRODUCT FORM
CHAPTER 5: BIOTIN SUPPLEMENT MARKET, BY DISTRIBUTIONAL CHANNEL
CHAPTER 6: BIOTIN SUPPLEMENT MARKET, BY APPLICATION
CHAPTER 7: BIOTIN SUPPLEMENT MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Biotin Supplement Market," the biotin supplement market was valued at $583.36 million in 2021, and is estimated to reach $1.4 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031.B-7 vitamin popularly known as biotin is an essential nutrient that is a water-soluble vitamin and is naturally present in some food and available as a dietary supplement. It helps in curing biotin deficiency along with the care of hair, skin, and nail.
Key factors driving the growth of the biotin supplements market include a rise in awareness regarding the biotin supplements, increased costs of healthcare, and an increase in the preference of biotin supplements in daily diet. The actual costs of providing services related to the delivery of health care, including the costs of procedures, therapies, and medications known as healthcare costs. There is a surge in healthcare costs. According to an article by the National Library of Medicine, healthcare cost is directly affected by macroeconomic indicators because an increase in income levels of a country allows governments to increase their revenue through tax. Public healthcare costs are influenced by Inflation because it affects the prices of goods and services including costs of health-related materials. People are shifting toward biotin supplements to keep them healthy so they can avoid healthcare expenses with the rise in healthcare costs. According to the report of the Tennessee Advisory Commission on Intergovernmental Relations, in the U.S., healthcare is expensive. Costs have been increasing and are expected to continue rising over the next few years. From 2017 to 2018, spending increased by 4.6% to a total of $3.6 trillion, or $11,172 per person, and it is expected to rise from 17.7% of gross domestic product (GDP) in 2018 to 19.7% in 2028 - almost one of every five dollars spent in the U.S. All such factors coupled together are expected to boost the growth of the market.
The market also offers growth opportunities to the key players in the market. Biotin deficiency can be found majorly in alcoholic people. As per the report of Harvard T.H. Chan School of Public Health, alcoholism can increase the risk of biotin deficiency and many other nutrients as alcohol can block their absorption, and also because alcohol abuse is generally associated with poor dietary intake. The rise in alcoholism among the global population is expected to create a growth opportunity for the market. According to the report of the National Institute on Alcohol Abuse and Alcoholism, in the U.S., 14.5 million (nearly 15 million) people ages 12 and older (5.3%of this age group) had alcohol use disorder (AUD). This number includes 9.0 million men (6.8%of men in this age group) and 5.5 million women (3.9%of women in this age group) in 2019. According to the report of Our World in Data organization globally, 107 million people are estimated to have an alcohol use disorder. Such a huge number of alcoholic disorders can lead to biotin deficiency in people which is expected to boost the growth of the biotin supplements market.
North America is the second major market for biotin supplement market owing to rise in consumption of healthy food as well as rise in need for nutritious supplements. The National Institute of Health U.S., stated that U.S. sales of all dietary supplements totaled an estimated $55.7 billion in 2020, including $21.2 billion for all supplements containing vitamins, minerals, or both. Such huge expenditure on dietary supplements is expected to propel the growth of the biotin supplements market in North America.
The biotin supplement market is segmented on the basis of product form, distributional channel, application, and region. By product form, the market is divided into capsules, tablets, soft gels, liquid, gummies, and powders. By distributional channel, the market is further divided into supermarkets, specialty stores, and e-commerce. By application, the market is classified into pharmaceuticals, skin-care, health-care, and nail-care. By region, the market is analyzed across North America (U.S., Canada, Mexico), Europe (France, Germany, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
The key players profiled in the study include Church & Dwight Co. Inc.,, Designs for Health, Inc., Doctor's Best Inc., LIfe Extension, Nestle S.A., Neutraceutical Corporation, NOW Health Group, Inc., SBR Nutrition, SolaGarden Naturals, Sports Reseach Corporation, Vytalogy Wellness, L.L..C., Zenwise, LLC.
Key Market Insights
- The capsules segment dominated the market in 2021 and the gummies segment is expected to have the highest growth during the forecast period.
- Hair care biotin supplements are the most popular by price point, and premium biotin supplements are expected to grow the most during the forecast period.
- Specialty stores had the highest market share in 2021, while the e-commerce segment is expected to grow the fastest during the forecast period.
- Based on region, Asia-Pacific was the highest revenue contributor in 2021 and is also expected to grow with the highest CAGR during the forecast period.
Companies Mentioned
- Church & Dwight Co., Inc.
- Nestle S.A.
- Nutraceutical Corporation
- Vytalogy Wellness, L.L.C.
- Zenwise, LLC
- SBR Nutrition
- Doctor's Best, Inc.
- Sports Research Corporation
- NOW Health Group, Inc.
- Life Extension
- Designs for Health, Inc.
- SolaGarden Naturals
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 240 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 583.4 million |
| Forecasted Market Value ( USD | $ 1410.9 million |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
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