In 2023, the global biotin supplement market is expected to reach a valuation of US$ 3,696.0 million. Over the forecast period, the market is anticipated to progress at a healthy CAGR of 8.5%. By 2033, it is predicted to be worth around US$ 8,331.0 million.
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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Key Trends Influencing the Biotin Supplement Market
- Biotin Deficiency in Pregnant Women: Pregnant women are more susceptible to biotin deficiency, which can lead to congenital disabilities, as highlighted by the American Journal of Clinical Nutrition.
- High-Risk Groups: Pregnant women, smokers, alcoholics, and individuals dependent on intravenous (IV) feeding are at increased risk of biotin deficiency.
- Market Growth through Multivitamin Supplements: The market for biotin supplements is expected to expand with the inclusion of biotin in multivitamin health supplements, catering to individuals at risk of deficiency.
- Social Media Promotion: Brands are leveraging social media platforms to educate consumers about the risks associated with biotin deficiency, emphasizing the importance of supplementation and raising awareness about preventive measures.
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
- Value Chain
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.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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