Biotin Supplements Market to Reach Valuation of USD 3.4 Billion by 2028 – Increasing Consumer Preference for Health Drives the Market

In terms of revenue, the Global Biotin Market is expected to reach USD 3.4 Billion by 2028, growing at a CAGR of 16.6% from 2022 to 2028. Recently, the consumer’s preference for health has been rising worldwide. Also, the number of working women population is increasing, and this need for Biotin to withstand stress and reduce fatigue fuels the market growth. Biotin helps the body regain vitamins and minerals lost due to excursion and stress. Thus, these factors are increasing the demand for Biotin and are expected to propel market growth in the coming years.

Key Highlights from Report:

• The capsules sub-segment of the product form segment is anticipated to dominate the Biotin Market. Capsule production is easy, and packaging is quite efficient. Also, it is majorly preferred by consumers, as the capsule shell decreases the smell and odour of the product. Thus, the capsule segment is expected to grow during the forecast period.

• The supermarket sub-segment of the distribution channel application segment accounted for the largest market share in 2021 for the Biotin Market. The growth is attributed to the increasing availability of supermarkets across the globe.

• North America is the largest regional segment. This surge is attributed to the rising demand for biotin capsules in developing economies such as India, China, and Indonesia. The rising population and need for vitamin-rich supplements drive the Biotin Market in this region.

Market Dynamics:

According to World Health Organization (WHO), 30% of the global population faces mineral and vitamin deficiency. This number is expected to increase up to 50% in 2023. Therefore, the need for Biotin to regain health, especially among the women population, is mounting demand for Biotin. Also, Biotin deficiency can cause thinning hair and loss of body hair, rashes, high levels of acid in the blood and urine, seizures, skin infection, brittle nails, and nervous system disorders. Furthermore, symptoms of biotin deficiency in infants include weak muscle tone, sluggishness, and delayed development. Thus in the coming years, the demand for Biotin Market is expected to boost the market demand.

North America is expected to dominate the Global Biotin Market in 2021 and is likely to continue the same trend during the forecast period. An increase in critical players and high investment made by higher population countries such as China & India will likely generate demand for this market shortly.