The global biotin supplement marketis expected to reach a valuation of US$ 3,696.0 million in 2023. The market is expected to progress at a healthy CAGR of 8.5% over the forecast period. By 2033, the market is predicted to be worth around US$ 8,331.0 million.
Biotin, initially known as vitamin H, is a type of vitamin B (B7). Biotin is a combination of coenzyme, and vitamin B. B complex vitamin, prenatal, multivitamins, or biotin alone forms the biotin supplements. Biotin supplements metabolize the eaten food, helps in building cells and regulates fats and carbohydrates distribution of the body. Biotin deficiency is one of the primary reason for the intake of biotin supplements; however, the occurrence of biotin deficiency is infrequent.
The global biotin supplements market is forecasted to witness a steady growth owing to rising awareness among the population regarding health benefits from biotin supplements. It is anticipated to propel the biotin supplements market due to increasing popularity and growing demand by consumers.
The market for biotin supplements is anticipated to grow at a CAGR of 11% over the course of the forecast period, from US$ 2.06 billion in 2022 to US$ 3.85 billion by 2032. During the projection period, it is anticipated that the market for biotin supplements would exhibit encouraging growth possibilities.
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Biotin, initially known as vitamin H, is a type of vitamin B (B7). Biotin is a combination of coenzyme, and vitamin B. B complex vitamin, prenatal, multivitamins, or biotin alone forms the biotin supplements. Biotin supplements metabolize the eaten food, helps in building cells and regulates fats and carbohydrates distribution of the body. Biotin deficiency is one of the primary reason for the intake of biotin supplements; however, the occurrence of biotin deficiency is infrequent.
The positive attitude of the consumers towards dietary supplements, having added health and wellness benefits has a very positive impact on the biotin supplements market. Nonetheless, the increasingly health-conscious consumers across the globe are expected to drive the biotin supplements market. Also, medical discoveries and food innovations are estimated to aid the biotin supplements market growth.
Biotin Supplements Market: Market Dynamics
The health benefits offered by biotin supplements such as strengthening nails, reducing hair loss and thinning, prevent biotin deficiency. Biotin supplements are useful to minimize biotin deficiency for pregnant women, certain epilepsy medications, chronic smoker, alcoholic, and a person eating lots of processed foods. These factors boost the biotin supplements market growth. Changing lifestyle, globalization, and hectic daily routines are some of the other factors fuelling the growth of biotin supplements market. Favourable outlook towards medical nutrition has propelled the biotin supplements market.
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Biotin Supplements Market: Key Players
Some of the major players in the biotin supplements market are Sports Research, The Nature’s Bounty Co., Pure Research Products, LLC, Zhou Nutrition, Natrol LLC, Church & Dwight Co. Inc., LifeGarden Naturals, NOW Foods, Jarrow Formulas, Inc., Doctors Best, Zenwise Health, SBR NUTRITION and among others. The market players are estimated to impact market positively by focusing on marketing strategies considering healthy lifestyle to expand across all the countries.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
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Regional analysis includes:
- Malaysia
- Thailand
- Vietnam
- Philippines
- Indonesia
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
Recent Developments
- Zhejiang Xinhecheng Co., Ltd. (China) and DSM (Netherlands) inked a contract for the sale and purchase of cholesterol in January 2019. Vitamin D3 is made from cholesterol. This deal is projected to assist the organisation in increasing its total capacity and Vitamin D productivity.
- Fermenta Biotech Limited (India) signed a 99-year lease deal with the Gujarat Industrial Development Corporation (GIDC) authority in Ankleshwar, Sayakha, in January 2019 to acquire a 40,000-square-meter plot of land for future expansion. By the end of 2020, the company hopes to start manufacturing.
- Xiamen Jindawei Vitamin Co., Ltd. and Wu Kun Health Food Co., Ltd. (Japan) formed a joint venture in April 2016. This agreement aided the company’s expansion in Japan.
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