Hair growth supplements and treatments refer to products designed to stimulate and promote hair growth, prevent hair loss, and improve the overall health and appearance of hair. They typically contain a combination of vitamins, minerals, herbs, and other natural ingredients that target various aspects of hair growth and health.
Sizing and Forecast
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 rise in prevalence of hair loss conditions, increase in consumer awareness of hair health, growth in demand for natural and organic products, increased marketing efforts, 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 growth in the forecast period can be attributed to increasing consumer awareness, rising disposable incomes, advancements in technology, an expanding aging population, greater availability of products through online retail channels, and the influence of social media on beauty standards. Major trends in the forecast period include adopting technological advancements, innovative ingredients and formulations, innovation in delivery systems, utilization of advanced ingredients, advancements in product formulations, and enhancement of absorption of active ingredients.
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Segmentation & Regional Insights
The hair growth supplement and treatment market covered in this report is segmented –
1) By Type: Supplements, Pharmaceuticals, Devices
2) By Form: Tablets And Capsules, Gummies And Soft Gels, Liquids, Powders
3) By Distribution Channel: Hypermarkets Or Supermarkets, Specialty Stores, Drugstores And Pharmacies, Online Retail, Other Distribution Channels
4) By End User: Men, Women
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.
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Major Driver Impacting Market Growth
The increase in the number of thyroid disorders is expected to propel the growth of the hair growth supplement and treatment market going forward. Thyroid disorders are health conditions characterized by either inadequate or excessive production of hormones by the thyroid gland or the emergence of abnormal growth within the gland. The prevalence of thyroid disorders is increasing due to factors such as environmental elements, genetic tendencies, and lifestyle alterations. Hair growth supplements and treatments are assisting people with thyroid disorders by managing the hair thinning or loss commonly linked to thyroid imbalances, offering a remedy to alleviate the impact of these conditions. For instance, in January 2024, according to Cancer Australia, an Australia-based government agency for cancer, Australia witnessed 112 fatalities attributed to thyroid cancer, with 48 occurring in males and 64 in females in 2020. Projections for 2022 indicated an expected increase, with an estimated total of 143 deaths, comprising 72 males and 71 females. Therefore, the increase in cases of thyroid disorders is driving the growth of the hair growth supplement and treatment market.
Key Industry Players
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
The hair growth supplement and treatment market report table of contents includes:
1. Executive Summary
2. Hair Growth Supplement And Treatment Market Characteristics
3. Hair Growth Supplement And Treatment Market Trends And Strategies
4. Hair Growth Supplement And Treatment Market – Macro Economic Scenario
5. Global Hair Growth Supplement And Treatment Market Size and Growth
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32. Global Hair Growth Supplement And Treatment Market Competitive Benchmarking
33. Global Hair Growth Supplement And Treatment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hair Growth Supplement And Treatment Market
35. Hair Growth Supplement And Treatment Market Future Outlook and Potential Analysis
36. Appendix
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