Biotin Supplements Market

Market Synopsis:

The Global Biotin Supplements Market was valued at USD 1.10 Billion in the year 2022 and is forecast to reach a value of USD 2.43 Billion by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 10.40% over the forecast period.

Vitamin B7, commonly known as biotin, vitamin B8, or vitamin H, is a white, water-soluble vitamin that belongs to the B vitamin family. These vital ingredients can naturally be found in some foods and as a dietary supplement. Although biotin comes in eight distinct forms, only one of them, D-biotin, is naturally occurring and has complete vitamin action. Along with structural changes, gene regulation (by changing the activity of transcription factors), and cell signaling, also play crucial roles in these processes. In addition, only some plant species and specific types of mold, bacteria, yeast, and algae may produce biotin. The market for Biotin Supplements is expected to expand throughout the forecast period due to the numerous health advantages they provide, including good skin, hair, and nail health. Additionally, a positive attitude on medicinal nutrition in conditions including seborrheic dermatitis, diabetes, and peripheral neuropathy has fueled the market for Biotin Supplements.

Additionally, there will be profitable market prospects due to the rising demand for nutritional supplements from emerging nations. However, the forecast period is predicted to witness a slowdown in the market growth for Biotin Supplements. This decline is attributed to the rising demand for organic foods, which are seen as biotin alternatives, and the increased risk of side effects from high biotin supplement use, which can lead to false test results.

Market Segmentation:

The Biotin Supplements Market is segmented into Product Form, Distribution Channel, Application, and Region. Based on Product Form, the market is further categorized as Capsules, Tablets, Soft Gels, liquids, and Powders. Moreover, based on the Distribution Channel segment, the market is sub-segmented as Supermarkets/Hypermarkets, Specialty Stores, and E-Commerce. Finally, based on the Application segment, the market is sub-segmented as Pharmacies, Skin Care, and Hair Care.

Based on Product:

Based on the Product segment, the Capsules sub-segment is anticipated to increase and soon overtake all other revenue-generating sub-segments. Players have also noticed an increased demand for hair supplement capsules made without soy, gluten, or genetically modified organisms (GMOs). Additionally, there is a significant demand for goods without sugar or artificial sweeteners. Besides, the Soft Gels segment is one of the most popular Biotin Supplements is made of biotin, zinc, copper, vitamin D, and other components. Therefore, neither gluten nor sugar is present in this soft gel. Additionally, the corporation didn't utilize artificial flavors or sweeteners during production. Due to this, the Product became a favorite among customers concerned about their health.

Based on Distribution Channel:

Based on the Distribution Channel category, the market is sub-categorized into Supermarkets/Hypermarkets, Specialty Stores, and E-Commerce. In 2021, the Supermarkets/Hypermarkets had a significant share in the global market, and the same is estimated to continue their dominance over the forecast period. Besides, the E-Commerce sub-category is projected to witness the fastest growth during the forecast period of 2022-2028. This growth is attributed to the rising demand for online shopping among consumers across the globe.

Asia Pacific is Projected to Grow at the Fastest CAGR During the Forecast Period

Asia Pacific is accounted to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia-Pacific region held the most significant market share in the biotin sector, Due to its massive output in places like China. The largest producer of biotin in the world is reputed to be Zhejiang Medicine Company. On the other hand, they face intense competition from other big industrial firms. Numerous companies produce Biotin Supplements in China and India. As a result, trade between East Asia and South Asia and Europe and North America has increased. Furthermore, the Asia-Pacific region is home to the biotin supplement market with the most significant growth rate due to rising consumer spending on health supplements as a result of the health advantages offered by biotin.

Competitive Landscape:

The key players in the Global Biotin Supplements market include- Sports Research, Nature's Bounty Co., Pure Research Products LLC, Zhou Nutrition, Natrol LLC, Church & Dwight Co. Inc., Life Garden Naturals, NOW Foods, Jarrow Formulas Inc., Doctors Best, Zenwise Health, SBR Nutrition, and others.

Segmentation of the Global Biotin Supplements Market: