Hair Growth Supplement and Treatment Global Market Report 2024

The hair growth supplement and treatment market size has grown strongly in recent years. It will grow from $8.19 billion in 2023 to $8.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to the increase in consumer awareness of hair health, rise in prevalence of hair loss conditions, increased marketing efforts, growth in demand for natural and organic products, the popularity of celebrity endorsements, and the proliferation of e-commerce platforms.

The hair growth supplement and treatment market size is expected to see strong growth in the next few years. It will grow to $13.01 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The anticipated growth during the forecast period is fueled by heightened consumer awareness, growing disposable incomes, technological advancements, a expanding aging population, increased product availability via online retail channels, and the impact of social media on beauty standards. Significant trends expected in this period involve the adoption of technological innovations, incorporation of innovative ingredients and formulations, advancements in delivery systems, utilization of advanced ingredients, improvements in product formulations, and enhancements in the absorption of active ingredients.

The rise in the prevalence of thyroid disorders is anticipated to drive the expansion of the hair growth supplement and treatment market in the future. Thyroid disorders encompass health conditions characterized by either insufficient or excessive production of hormones by the thyroid gland, or the emergence of abnormal growth within the gland. The increasing prevalence of thyroid disorders is attributable to various factors including environmental influences, genetic predispositions, and changes in lifestyle. Hair growth supplements and treatments are aiding individuals with thyroid disorders by addressing the hair thinning or loss commonly associated with thyroid imbalances, providing a solution to mitigate the impact of these conditions. For example, in January 2024, according to Cancer Australia, a government agency based in Australia focusing on cancer, there were 112 reported fatalities attributed to thyroid cancer in Australia in 2020, with 48 occurring in males and 64 in females. Projections for 2022 indicated an anticipated increase, with an estimated total of 143 deaths, comprising 72 males and 71 females. Hence, the rise in incidences of thyroid disorders is propelling the growth of the hair growth supplement and treatment market.

Prominent companies in the hair growth supplement and treatment market are innovating by developing solutions such as vegan hair supplements to meet the increasing demand for plant-based and cruelty-free products. These companies are targeting health-conscious consumers who prefer natural and ethical options. Vegan hair supplements are plant-based products formulated to enhance hair growth and health without the use of any animal-derived ingredients. For example, in September 2021, Sulo Nutrition, an India-based nutraceutical brand, introduced its inaugural vegan gummies. These gummies are enriched with biotin, amla extracts, zinc, and vitamin B12, boasting a high nutritional value from Indian ingredients. They strengthen hair roots, reduce hair fall, and promote hair growth, providing a flavorful and enjoyable alternative to traditional supplements.

In May 2022, Unilever PLC, a UK-based consumer goods company, acquired a majority interest in Nutrafol for an undisclosed sum. This acquisition expands, diversifies, and enhances the portfolio of Unilever PLC by incorporating enduring franchises across different health and wellness sectors. Nutrafol, a US-based hair wellness company, specializes in producing hair growth supplements.

Major companies operating in the hair growth supplement and treatment market are Johnson & Johnson Services Inc, Procter & Gamble Company, Unilever Plc, Merck and Co. Inc., L'Oreal SA, Amway Corp., Church & Dwight Co Inc, Amorepacific Corporation, General Nutrition Centers Inc, Oriflame Cosmetics AG, The Natures Bounty Co., Schiff Nutrition International Inc., Swisse Wellness, Country Life LLC, ProCaps Laboratories Inc., Wontech Co. Ltd., ProThera Inc., Curallux LLC, Capillus LLC, ExoCoBio Inc., Nioxin Research Laboratories Inc., Invite Health Inc., iRestore Hair Growth System, Ultrax Labs, Hairfinity Limited.

Asia-Pacific was the largest region in the hair growth supplement and treatment market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the hair growth supplement and treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the hair growth supplement and treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Hair growth supplements and treatments are products crafted to stimulate and enhance hair growth, prevent hair loss, and enhance the overall health and appearance of hair. These products commonly consist of a blend of vitamins, minerals, herbs, and other natural components aimed at addressing diverse aspects of hair growth and health.

The primary categories of hair growth supplements and treatments include supplements, pharmaceuticals, and devices. Supplements are specialized products containing essential nutrients and ingredients intended to bolster hair health, foster growth, and address concerns such as hair loss. They come in various forms such as tablets, capsules, gummies, soft gels, liquids, and powders, available through diverse distribution channels including hypermarkets, supermarkets, specialty stores, drugstores, pharmacies, online retail, and others, catering to a wide range of end users including both men and women.

The hair growth supplement and treatment market research report is one of a series of new reports that provides hair growth supplement and treatment market statistics, including hair growth supplement and treatment industry global market size, regional shares, competitors with a hair growth supplement and treatment market share, detailed hair growth supplement and treatment market segments, market trends, and opportunities, and any further data you may need to thrive in the hair growth supplement and treatment industry. This hair growth supplement and treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hair growth supplement and treatment market consists of sales of medications, nutritional supplements, natural products, topical treatments, hair restoration devices, and customized treatments aimed at promoting hair growth and preventing hair loss. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities, including downstream manufacturers, wholesalers, distributors, and retailers, or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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