Biotin Supplements Market

Biotin Supplements Market

The biotin supplements market is likely to record a CAGR of 11% during the forecast period, up from US$ 2.06 Bn in 2022 to reach a valuation of US$ 3.85 Bn by 2032.

The biotin supplements market is anticipated to show promising growth prospects during the forecast period.

Sales of biotin supplements are expected to grow due to rising awareness among the population regarding the health benefits of biotin supplements. In addition to this, demand for biotin supplements is growing due to the rising popularity of biotin supplements among customers.

Increasing biotin deficiency is one of the primary reasons for the intake of biotin supplements which is projected to contribute to the growth of the biotin supplements market share.

Consumers' positive attitudes toward dietary supplements that provide additional health and wellness advantages are having a positive impact on the demand for biotin supplements. Due to this factor, the sales of biotin supplements is also projected to grow.

The biotin supplements market is likely to be driven by a growing number of health-conscious customers around the world.

Some of the key biotin supplements market trends promoting the demand for biotin supplements include medical breakthroughs in the biotin supplements industry and food advancements.

What are the Key Drivers to the Biotin Supplements Market Share

The sales of biotin supplements is rapidly increasing due to various health benefits offered by them. Benefits such as strengthening nails, reducing hair loss and thinning, prevent biotin deficiency are major factors propelling the demand for biotin supplements.

The demand for biotin supplements is growing as they 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 sales of biotin supplements and aid in the development of biotin supplements market.

Changing lifestyle, globalization, and hectic daily routines are some of the other factors fueling the sales of biotin supplements. Furthermore, favorable outlook toward medical nutrition has propelled the demand for biotin supplements.

The demand for biotin supplements is rising due to growing consumer awareness. The human body requires roughly 30 micrograms of biotin for a healthy adult, according to the National Institutes of Health. Furthermore, people who eat a diverse diet are shown to consume 35-70mcg each day. As a result, in most Western countries, the demand for biotin supplements is very low. This is a major factor affecting the sales of biotin supplements. In addition, the market for biotin supplements is expected to be hampered by the increased demand for organic foods.

Manufacturers are expected to plan promotional and marketing strategically by promoting health concern activities to increase the sales of biotin supplements. However, multi-vitamin dietary supplements are expected to enhance the biotin supplements market growth.

Sneha Verghese

Principal Consultant

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Which is the Leading Region in the Biotin Supplements Market

China and India have a large number of biotin supplement manufacturers. East Asia and South Asia have increased their import and export activity with Europe and North America as a result. Due to this, both East Asia and South Asia are expected to have a significant biotin supplement market share.

Due to changing lifestyles and lower intake of biotin naturally through food, North America and Europe are likely to have the highest demand for biotin supplements.

Oceania is also a major player in the biotin supplement industry. The sales of biotin supplements in this region are predicted to rise due to increased public awareness regarding the availability of biotin supplements.

With a growing number of health-conscious customers, the Middle East and Africa (MEA) is expected to be the fastest-growing biotin supplements market during the forecast period.

 The biotin supplement market in Latin America is predicted to increase as a result of globalization and growing economies. The expansion of the biotin supplements market is predicted to be fueled by changing lifestyles and improper eating habits that lead to health risks.

Who are the Key Players in the Biotin Supplements Market

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 lifestyles to expand across all the countries.

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.

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