The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

Market Growth and Projections

• Current Market Size:
  • The market was valued at $8.19 billion in 2023.
  • Expected to grow to $8.97 billion in 2024, with a compound annual growth rate (CAGR) of 9.5%.
• Future Outlook:
  • Projected to reach $13.01 billion by 2028, reflecting a CAGR of 9.7%.
  • Growth driven by rising consumer awareness, increasing disposable incomes, technological advancements, and the influence of social media on beauty standards.

Key Drivers of Growth

• Thyroid Disorders:
  • The rise in thyroid disorders is propelling market growth.
  • Thyroid imbalances often lead to hair thinning or loss, driving demand for supplements and treatments.
• Example:
  • In January 2024, Cancer Australia reported an increase in thyroid cancer deaths, with a projected total of 143 deaths in 2022. This underscores the growing need for effective hair loss solutions linked to thyroid conditions.

View More On The Hair Growth Supplement And Treatment Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/hair-growth-supplement-and-treatment-global-market-report

Major Trends in the Market

• Technological Advancements:
  • Adoption of new technologies and innovative ingredients.
  • Focus on improving delivery systems and enhancing ingredient absorption.
• Vegan and Plant-Based Products:
  • Rising demand for vegan hair supplements catering to health-conscious consumers.
• Example:
  • In September 2021, Sulo Nutrition launched vegan gummies enriched with biotin, amla extracts, zinc, and vitamin B12 to support hair health.

Leading Companies

• Key Players:
  • Johnson & Johnson Services Inc.
  • Procter & Gamble Company
  • L’Oreal SA
  • Unilever Plc
• Others:
  • Merck and Co. Inc., Amway Corp., Church & Dwight Co Inc., and more.

Recent Developments

• Unilever PLC Acquisition:
  • In May 2022, Unilever PLC acquired a majority stake in Nutrafol, expanding its health and wellness portfolio.
  • Nutrafol is known for its hair growth supplements, adding depth to Unilever’s product offerings.

Market Segmentation

• By Type:
  • Supplements
  • Pharmaceuticals
  • Devices
• By Form:
  • Tablets and Capsules
  • Gummies and Soft Gels
  • Liquids
  • Powders
• By Distribution Channel:
  • Hypermarkets or Supermarkets
  • Specialty Stores
  • Drugstores and Pharmacies
  • Online Retail
• By End User:
  • Men
  • Women

Regional Insights

• Current Leader:
  • Asia-Pacific was the largest market region in 2023.
• Future Growth:
  • Europe is expected to be the fastest-growing region in the forecast period.

The hair growth supplement and treatment market is set for significant growth, driven by increasing awareness, innovative product developments, and rising prevalence of conditions affecting hair health. With ongoing advancements and strategic acquisitions, the market is well-positioned to expand further in the coming years.

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