Hair Growth Supplement And Treatment Market To Grow As Of Rising Demand For Natural Solutions

Hair Growth Supplement And Treatment Industry Overview

The global hair growth supplement and treatment market size was estimated at USD 7.74 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.15% from 2024 to 2030. The market is witnessing a significant boost due to the increasing prevalence of hair loss disorders. This trend is expected to drive the demand for innovative solutions for hair care. The growing prevalence of hair loss disorders has become a concern worldwide, affecting individuals of all ages and genders which is expected to expand the market growth prospects. Factors such as genetics, hormonal imbalances, stress, poor nutrition, and environmental pollutants contribute to hair problems, making them widespread and persistent

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The COVID-19 pandemic had a notable impact on the market. With widespread lockdowns and social distancing measures in place, many individuals prioritized personal health and self-care, including concerns related to hair health. This led to increased demand for hair growth supplements and treatments as people sought ways to address stress-related hair loss and other issues exacerbated by the pandemic. However, disruptions in the global supply chain and manufacturing delays hindered the availability of certain products, leading to price fluctuations and shortages in some regions. As the pandemic progressed, the market also saw a shift towards online sales and telehealth consultations, with a growing emphasis on e-commerce platforms and virtual consultations for hair-related issues. Overall, the COVID-19 pandemic has underscored the significance of health and well-being which is expected to positively affect the market in the near future.

The increasing prevalence of hair loss disorders is not limited to a specific age group or gender. It affects men and women across various age brackets, making it a universal concern. According to the National Library of Medicine, androgenetic alopecia impacts around 50 million men and approximately 30 million women across the U.S. This condition can commence as early as an individual’s teenage years, and the likelihood of experiencing it rises with age. Statistics show that over 50% of men aged 50 & above exhibit some level of hair loss. Whereas among women, the likelihood of hair loss tends to increase post-menopause. This broad demographic reach has made the market highly lucrative and diverse, catering to a wide range of customer needs. As a result, the market is expected to witness substantial growth in the near future.

The increasing prevalence of alopecia has also led several customers to seek natural, science-based, and advanced solutions to address alopecia and related issues. This has prompted companies to develop & market a plethora of hair growth supplements & treatments that promise efficacy and safety. Furthermore, advancements in research and technology have enabled the development of innovative alopecia solutions. Companies are investing heavily in research and development (R&D) to create novel & innovative products. For instance, in March 2023, Viviscal unveiled an array of topical hair care products designed to cater to the specific hair-related concerns of women. The collection included Viviscal Thickening Shampoo, Viviscal Strengthening Conditioner, and Viviscal Thickening Serum.

The rising awareness of healthcare has led to an increasing demand for products & treatments tailored to the unique needs and preferences of each customer. This shift toward personalization is reshaping the hair care industry and fueling innovation to develop specialized supplements & treatments. Moreover, individuals are increasingly adopting proactive steps to enhance their overall well-being and hair health, which is a vital factor propelling market growth. Furthermore, another factor driving the demand for personalized solutions is the recognition that hair health is not a one-size-fits-all issue. Hair loss and thinning can result from a wide range of factors, including genetics, hormonal imbalances, stress, diet, and environment. These factors can vary significantly from person to person, making it essential for individuals to have access to treatments that address their specific underlying causes.

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Key Companies profiled:

• Nutraceutical Wellness Inc. (Unilever)

• Viviscal Limited. (Church & Dwight)

• Amway

• GNC Holdings, Inc. (Harbin Pharmaceutical Group)

• OUAI HAIRCARE (P&G)

• InVite Health

• Johnson & Johnson Services, Inc

• Merck & Co., Inc.

• Curallux, LLC.

• iRestore Hair Growth System

• Lexington International, LLC (Hairmax)

• Alma Lasers

• WON TECH Co., Ltd.

• EXOCOBIO

• Cipla Inc.