Hair Growth Supplements Market Size Worth $1.92 Billion By 2030 | CAGR: 14.7%

Hair Growth Supplements Market Growth & Trends

The global hair growth supplements market size is expected to reach USD 1.92 billion by 2030, expanding at 14.7% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising awareness about nutritional benefits of supplements, increasing awareness among people and easy availability of products through different platforms are anticipated to drive the global market during the projected period. In addition, the increasing trend of preventive healthcare and rising preference for herbal hair supplements are further projected to fuel industry growth.

Moreover, the rising preference for organic and chemical-free hair supplements coupled with new product launches are contributing to industry expansion. For instance, in May 2023 Ludwig Enterprises announced its plans to launch a new nutraceutical for hair loss. With this launch, the company is planning to expand its direct-to-consumer marketing strategy. 

Moreover, the rising burden of hair loss conditions, the aging population, and significant demand for hair growth supplements from the young and middle-aged population are other factors supporting industry expansion. 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 retail, wholesale, and e-commerce at reasonable prices has also propelled the adoption of these products.

Furthermore, growing efforts by leading market participants to develop novel hair growth solutions to meet evolving product demand are projected to offer significant growth opportunities for the market. For instance, in March 2023, Hairburst launched its most powerful vitamin range to promote healthy hair growth and battle hazardous side effects. In addition, in March 2021, Moon Juice launched exclusively at Sephora Canada, making its holistic line of skincare products and supplements available to all Canadians.

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Hair Growth Supplements Market Report Highlights

• The single-ingredient segment dominated the market in 2022 with a revenue share of 74.7% and is attributed to the increasing geriatric population, growing consumer interest in nutritional products, easy product availability, and several product launches

• By form, the capsule segment dominated the global industry with a revenue share of 50.3% in 2022 and it is also projected to register the fastest CAGR during 2023 - 2030

• In the distribution channel segment, the drug and pharma stores segment dominated the market with a revenue share of 35.3%. The higher revenue growth is attributed to the high number of drug stores offering supplement-based products and the presence of advanced healthcare infrastructure

• Asia Pacific region dominated the global market with a revenue share of 46.41% in 2022. The high growth of the region is accounted for high awareness among people, rising disposable income, and easy access to products owing to highly developed retail pharmacy chains

Hair Growth Supplements Market Segmentation           

Grand View Research has segmented the global hair growth supplements market based on type, form, distribution channel, and region:

Hair Growth Supplements Type Outlook (Revenue, USD Million, 2018 - 2030)

• Single Ingredient

• Multi-ingredient

Hair Growth Supplements Form Outlook (Revenue, USD Million, 2018 - 2030)

• Powder

• Gummies & Soft Gels

• Tablets

• Capsules

• Liquid

Hair Growth Supplements Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hypermarkets/Supermarkets

• Specialty Stores

• Online Pharmacies

• Drug & Pharma Stores

Hair Growth Supplements Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Denmark

  • Norway

  • Sweden

• 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

List of Key Players in Hair Growth Supplements Market

• Nutraceutical Wellness Inc. (Unilever)

•  Viviscal Limited. (Church & Dwight)

• Amway

• GNC Holdings, Inc. (Harbin Pharmaceutical Group)

• OUAI HAIRCARE (P&G)

• InVite Health

• codeage LLC

• Viva Naturals

• KLAIRE LABS

• Hair La Vie