Hair Growth Supplement and Treatment Market Size, Report By 2033

The global hair growth supplement and treatment market size was valued at USD 7.76 billion in 2023 and is expected to reach around USD 14.13 billion by 2033, expanding at a CAGR of 6.18% from 2024 to 2033.

Key Points

• The North America hair growth supplement and treatment market size accounted for USD 3.57 billion in 2024 and is expected to expand around USD 6.57 billion by 2033 with CAGR of 6.28% from 2024 to 2033.
• Asia Pacific dominated the market with the largest revenue share of 46% in 2023.
• Europe is estimated to grow at a fastest CAGR of 5.52% during the forecast period of 2024-2033.
• By type, the pharmaceutical segment dominated the hair growth supplement and treatment market in 2023.
• By type, the supplements segment is the fastest growing during the forecast period.
• By distribution channel, the drug/pharma stores segment led the market in 2023.

The Hair Growth Supplement and Treatment Market is a dynamic and rapidly evolving sector within the broader healthcare and personal care industry. This market encompasses a wide array of products, including dietary supplements, topical treatments, shampoos, conditioners, serums, and medical treatments designed to promote hair growth and prevent hair loss. The increasing prevalence of hair-related issues such as alopecia, thinning hair, and hair damage has spurred significant demand for effective solutions, driving robust market growth.

Hair growth supplements typically consist of vitamins, minerals, and herbal ingredients that claim to nourish hair follicles, enhance hair strength, and stimulate growth. Popular ingredients include biotin, keratin, collagen, zinc, and various plant extracts. On the other hand, hair growth treatments can range from over-the-counter topical applications like minoxidil to prescription medications such as finasteride, as well as advanced medical procedures like hair transplants and platelet-rich plasma (PRP) therapy.

The market’s expansion is fueled by rising consumer awareness about the importance of hair care, increasing disposable incomes, and a growing preference for non-invasive treatments. Additionally, the influence of social media and celebrity endorsements has amplified the popularity of hair growth products, making them a staple in many consumers’ beauty and health routines.

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Growth Factors

Several key factors contribute to the growth of the Hair Growth Supplement and Treatment Market:

1. Increasing Prevalence of Hair Loss Conditions: Conditions such as androgenetic alopecia, telogen effluvium, and alopecia areata are becoming more common, affecting a significant portion of the population. This increase in hair loss conditions directly drives the demand for effective hair growth solutions.
2. Rising Awareness and Changing Beauty Standards: Modern beauty standards emphasize healthy, voluminous hair, prompting consumers to seek products that promise improved hair growth and quality. Social media platforms and beauty influencers play a pivotal role in spreading awareness about hair care products and treatments.
3. Advancements in Product Formulations: Technological advancements in biotechnology and dermatology have led to the development of more effective hair growth formulations. These innovations include the use of nanotechnology for better ingredient delivery and the incorporation of stem cell technology to stimulate hair follicles.
4. Increasing Disposable Income: Higher disposable incomes, especially in developing regions, allow consumers to spend more on premium hair care products and treatments. This trend is evident in the growing middle-class populations in countries like China, India, and Brazil.
5. Aging Population: As the global population ages, the incidence of hair thinning and hair loss increases. Older adults are becoming more concerned with maintaining their appearance, leading to a higher demand for hair growth supplements and treatments.

Region Insights

The Hair Growth Supplement and Treatment Market exhibits distinct regional characteristics, driven by varying consumer preferences, economic conditions, and cultural attitudes towards hair care.

1. North America: North America holds a significant share of the global market, driven by high consumer awareness, advanced healthcare infrastructure, and the presence of major market players. The U.S., in particular, is a key market due to its large aging population and high disposable income levels. The region also witnesses a strong influence of celebrity culture and social media trends, further boosting product demand.
2. Europe: Europe is another prominent market, characterized by a strong emphasis on organic and natural hair care products. Countries like Germany, France, and the UK lead the market due to their well-established cosmetic and pharmaceutical industries. The increasing trend of sustainable and eco-friendly products is also gaining traction in this region.
3. Asia-Pacific: The Asia-Pacific region is experiencing rapid market growth, attributed to rising disposable incomes, changing lifestyles, and increasing awareness about hair care. Countries such as China, Japan, South Korea, and India are major contributors. The region’s large population base and the growing influence of K-beauty trends significantly drive the demand for hair growth supplements and treatments.
4. Latin America: Latin America shows promising growth potential, with Brazil and Mexico being key markets. The increasing prevalence of hair loss conditions, coupled with rising consumer spending on beauty and personal care products, supports market growth in this region.
5. Middle East and Africa: The Middle East and Africa region is gradually emerging as a potential market for hair growth supplements and treatments. Increasing urbanization, rising disposable incomes, and growing awareness about hair care are contributing to market expansion. Countries like the UAE and South Africa are notable markets in this region.

Hair Growth Supplement and Treatment Market Scope

Hair Growth Supplement and Treatment Market Dynamics

Drivers

Several drivers propel the growth of the Hair Growth Supplement and Treatment Market:

1. Technological Innovations: Continuous advancements in biotechnology and dermatological research have led to the development of innovative and effective hair growth products. Techniques such as micro-needling, laser therapy, and the use of stem cells are revolutionizing the market.
2. E-commerce Expansion: The proliferation of e-commerce platforms has made it easier for consumers to access a wide range of hair growth products and treatments. Online retail channels offer convenience, variety, and competitive pricing, driving product sales.
3. Personalization and Customization: Consumers are increasingly seeking personalized hair care solutions tailored to their specific needs and hair types. Companies offering customized formulations and subscription services are gaining popularity, enhancing customer loyalty and market growth.
4. Celebrity Endorsements and Influencer Marketing: Celebrity endorsements and influencer partnerships significantly impact consumer purchasing decisions. High-profile endorsements lend credibility to products, driving consumer interest and boosting sales.
5. Increased Healthcare Spending: Rising healthcare expenditures globally have led to higher spending on wellness and preventive care products, including hair growth supplements and treatments. Consumers are more willing to invest in products that promise long-term health benefits.

Opportunities

The Hair Growth Supplement and Treatment Market presents several lucrative opportunities for growth and innovation:

1. Expansion into Emerging Markets: Companies can tap into the vast potential of emerging markets in Asia, Latin America, and Africa. These regions exhibit rising disposable incomes and increasing awareness about hair care, presenting significant growth opportunities.
2. Development of Natural and Organic Products: There is a growing consumer preference for natural and organic hair care products. Brands that focus on clean, sustainable, and eco-friendly formulations can capture a larger market share by catering to this demand.
3. Integration of Advanced Technologies: The integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) can enhance product development and customer experience. AI-driven diagnostics and personalized product recommendations can set companies apart in a competitive market.
4. Collaborations and Partnerships: Strategic collaborations with dermatologists, trichologists, and research institutions can lead to the development of clinically proven and highly effective products. Partnerships with influencers and celebrities can also boost brand visibility and credibility.
5. Focus on Male Grooming: The male grooming segment offers significant growth potential. Men are becoming more conscious of their appearance and are increasingly seeking solutions for hair loss and thinning. Targeted marketing and product development for male consumers can drive market growth.

Challenges

Despite the promising growth prospects, the Hair Growth Supplement and Treatment Market faces several challenges:

1. Regulatory Hurdles: The market is subject to stringent regulatory requirements and approvals, which can delay product launches and increase costs. Compliance with varying regulations across different regions adds to the complexity.
2. High Competition: The market is highly competitive, with numerous players vying for market share. Established brands and new entrants continually introduce innovative products, making it challenging for companies to maintain a competitive edge.
3. Consumer Skepticism: There is a level of skepticism among consumers regarding the efficacy of hair growth products. Negative reviews and unmet expectations can hinder market growth, emphasizing the need for transparent communication and clinically validated claims.
4. Side Effects and Safety Concerns: Some hair growth treatments and supplements may cause side effects or adverse reactions in certain individuals. Ensuring product safety and addressing consumer concerns is crucial for maintaining trust and credibility.
5. Economic Downturns: Economic fluctuations and downturns can impact consumer spending on non-essential products like hair growth treatments. Recessions or financial crises can lead to reduced discretionary spending, affecting market growth.

Read Also: Home Sleep Apnea Testing Devices Market Size, Share, Report by 2033

Hair Growth Supplement and Treatment Market Companies

• Cipla Inc.
• EXOCOBIO
• WON TECH Co., Ltd.
• Alma Lasers
• Lexington International, LLC (Hairmax)
• iRestore Hair Growth System
• Curallux, LLC.
• Merck & Co., Inc.
• Johnson & Johnson Services, Inc
• InVite Health
• OUAI HAIRCARE (P&G)
• GNC Holdings, Inc. (Harbin Pharmaceutical Group)
• Amway
• Viviscal Limited. (Church & Dwight)
• Nutraceutical Wellness Inc. (Unilever)

Hair Growth Supplement and Treatment Market Recent Developments

• In July 2023, a new all-in-one daily hair growth super capsule was launched by Happy Head and its dermatologists. These capsules contain vitamin D3, Spironolactone, and minoxidil for the treatment of women’s hair loss.
• In September 2023, a new product, the hair vitamins, was launched by a scalp health and hair care brand, Divi, to support scalp health.
• In November 2023, the Willo Hair Growth Support Capsules, a new brand was launched by the women’s wellness brand, O Positive Health. These are gluten-free and vegan supplements that are designed to improve hair follicle health, promote healthy hair growth, help manage stress effects on hair, and more.
• In February 2024, the Biotin Gummies were launched by the supplement company, Nature’s Way to support people’s hair growth issues. This new product each strawberry flavored gummy contains vitamins, 99 percent sugar, and 5000 micrograms of biotin.
• In April 2024, a hair care brand, Typebea was launched by Rita Ora for the treatment of hair damage and hair loss. The new hair care brand’s launch initially consists of 3-products including a recovery hair serum, shampoo, and conditioner.

Segments Covered in the Report

By Type

• Supplements
• Pharmaceuticals
  • Oral
    • Propecia
    • Minoxidil
  • Topical & Injectable
    • Propecia
    • Minoxidil
    • Exosome-based Therapies
• Devices

By Distribution Channel

• Hypermarkets/Supermarkets
• Specialty Stores
• Online Pharmacies
• Drug & Pharma Stores

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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