Biotin Supplement Market

Biotin Supplement Market Outlook for (2023 to 2033)

The global biotin supplement market is expected to reach a valuation of USD 3,696.0 million in 2023. The market is expected to progress at a healthy CAGR of 8.5% over the forecast period. By 2033, the market is predicted to be worth around USD 8,331.0 million.

Production and Consumption Analysis in the Biotin Supplement Market

• Problems like hair loss, nausea, and fatigue influence people to take biotin supplements.
• Dietary supplements related to hair loss are increasingly utilized by people who do not feel their food contains adequate biotin.
• The intake of biotin supplements is increasingly used to promote hair health and manage the required intake of vitamins to aid the biotin supplement industry.
• Hectic work schedules and the practice of eating out have a significant impact on health. Therefore, people with irregular eating cycles may struggle to consume healthy food and thus turn toward supplements to compensate for the lack of nutrition in their diet.

Attributes	Details
Biotin Supplement Market Value for 2023	USD 3,696.0 million
Projected Market Value for 2033	USD 8,331.0 million
Value-based CAGR of Market for 2023 to 2033	8.5%

Historical Analysis of Biotin Supplement Market

The biotin supplement market size was tipped to be USD 2,708.2 million in 2018. The market progressed at a solid CAGR of 6.1% over the historical period of 2018 to 2022.

The popularity of dietary supplements continued to increase over the historical period. Biotin supplements, too, received a boost. As health trends continued to grow, consumers looked upon biotin supplements more favorably. At the end of the historical period in 2022, the market reached the size of USD 3,432.3 million.

Historical Valuation (2022)	USD 3,432.3 million

Long-term Analysis of Biotin Supplement Market from 2023 to 2033

In 2023, the size of the biotin supplement market is projected to be USD 3,696.0 million. Over the forecast period of 2023 to 2033, the growth of the market is set to continue at an upbeat pace, with a CAGR of 8.5%.

The growth in the forecast period is set to outpace the growth in the historical period handily. The increased consciousness among consumers of the various health-related threats makes them seek out dietary supplements. The condition of hair loss and red rash is making people more aware of biotin supplements.

The busy working population often needs more time to plan precise dietary plans. The food intake of the working population is thus becoming irregular. To make up for nutrition loss due to their busy schedule, the working population is taking the help of dietary supplements, which include zinc deficiency, biotin, and multivitamins.

Key Trends Influencing the Biotin Supplement Market

• Pregnant women are more prone to biotin deficiency. According to the American Journal of Clinical Nutrition, the lack of B vitamin biotin among pregnant women can lead to congenital disabilities.
• In addition, pregnant women, smokers, alcoholics, and people reliant on IV feeding are at risk of biotin deficiency.
• Multivitamin health supplements containing biotin are further set to enhance the market's growth.
• Brands are focusing on social media promotional activities to educate consumers on the risks of biotin deficiency. With the help of such activities, manufacturers can target their audience and get authentic reviews on their products.
• The online distribution channel is set to play a big part in the biotin supplement industry. Consumers now have the means to avail such supplements at their door.
• Manufacturers are focusing on research and development to increase the efficiency of their products and retain customers.

Category-wise Outlook

Consumers are gulping Biotin Supplements in Beverage Form

Biotin supplements that come in the form of drinks are popular among consumers. In 2023, biotin supplements in beverage form are predicted to make up 18.2% of the market share by product type.

Companies in the biotin supplement industry have moved beyond just traditional ways of injecting supplements, like tablets or pills. Biotin supplements also come in the form of beverages that appear more palatable than conventional medicine.

In addition to providing all the benefits of biotin, the drinks are marketed as being delicious to taste. No-sugar biotin drinks have also been introduced in the market. Similarly, companies have branched out into supplying biotin supplements through chewable products that are similar to gummies.

Attributes	Details
Top Product Type	Drinks/Beverages
Market Share in 2023	18.2%

Consumers are Flocking to Supermarkets to Get Their Hands on Biotin Supplements

Supermarkets or hypermarkets continue to dominate the sales channel segment in the biotin supplement market. Sale through supermarkets is predicted to represent 13.9% of the market share in 2023.

The convenience supermarkets provide is instrumental in helping them become the leading sales channel for biotin supplements. However, specialty stores and online sales channels are also tipped to undergo massive growth.

Attributes	Details
Top Sales Channel	Supermarkets/Hypermarkets
Market Share in 2023	13.9%

Country-wise Analysis

North America and the Asia Pacific are dominant regions in the biotin supplement market. There has been an increase in the import and manufacturing of biotin supplements in the Asia Pacific.

In both North America and Europe, the increase in irregular eating patterns is leading to people seeking out dietary supplements. The irregular eating patterns could also lead to a deficiency in biotin. Thus, biotin supplements are increasing in popularity. The Middle East and Africa (MEA) and Latin America are other regions forecasted to have rapid growth in the biotin supplement industry.

Countries	Market Share in 2023
United States	23.9%
Australia	2.7%
Germany	5.7%
Japan	7.0%
China	7.9%

The Rise of Health Trends Plays a Pivotal Role in the Market Expansion in the United States

The United States is the dominant country in the biotin supplement market. In 2023, the country is likely to account for 23.9% of the market share.

Rising health trends in the United States have made people conscious of enough supplement needs. Problems related to biotin deficiency, such as hair loss, nausea, depression, and more, are forcing people in the country to seek the help of biotin supplements. Thus, the market is projected to grow strongly in the United States.

Biotin Replacement Therapy is Gaining Traction in China

China is the leader in the Asia Pacific for the biotin supplement market. In 2023, the China market is expected to contribute 7.9% of the market share.

The ever-increasing population of China leads to a rise in people prone to biotin deficiencies. The cases that were reported in China were basically among the pediatric population and people with hereditary metabolic disease. The key manufacturers of biotin supplements in China include NHU, Shengda Bio, and ZMC.

Reliance of the Aging Population on Dietary Supplements is Driving the Market in Japan

Japan is another country in Asia Pacific with a growing demand for biotin supplements. In 2023, Japan is expected to make up 7.0% of the market share.

The acceptance of dietary supplements among the aging and working population is paving the way for biotin supplements to gain a foothold in the country. Biotin is not registered in Japan for infants as it contains a high content of biotin, which may affect their health. Therefore, this may provide opportunities for manufacturers to introduce low biotin content in infant formula.

The Risk of Problems Like Hair Loss and Wrinkles Propel the Market in Germany

Germany is the leader in the European region for the biotin supplement industry. In 2023, the German market is forecasted to contribute 5.7% of the market share.

The presence of several companies manufacturing biotin supplements is conducive to the growth of the market in the region. The companies include Bayer, Novartis, and Pfizer.

Competitive Landscape in the Biotin Supplement Market

Companies in the biotin supplement market focus on getting their product's benefits to consumers. The companies are participating in various health exhibitions to aid the publicity of biotin supplements. Marketing and advertising campaigns are being launched to expand the customer base.

Large pharmaceutical companies have a stronghold in the market. However, smaller companies, especially those that trade locally, also have room to grow in the market.

Recent Developments in the Biotin Supplement Market

• In October 2023, Indian company Jayant Specialities expanded into the biotin supplements market. The company, primarily known for face masks and hand sanitizers, launched multivitamin gummies with biotin as one of the ingredients.
• In September 2023, Earth’s Splendor donated a large amount of biotin supplements to charity. The American brand hoped to alleviate the biotin deficiency in the Long Island region of the United States.
• In March 2023, Pet Honesty introduced two new supplements for cats. The Probiotics Gut + Immune Health and Skin and Coat Health supplements contain biotin and are aimed at improving the immunity of cats.

Key Companies in the Biotin Supplement Market

• 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

Key Segments

By Product Type:

• Capsules
• Tablets
• Gels
• Beverages/Drinks
• Gummies
• Powders

By Sales Channel:

• Supermarkets/Hypermarkets
• Specialty Store
• E-commerce
• Pharmacies
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa (MEA)

Frequently Asked Questions

What is the Trend in the Biotin Supplement Market?

Multivitamin supplements and the increasing importance of online distribution.

In What Forms are Biotin Supplements Available in the Market?

Biotin supplements are available in forms like capsules, tablets, drinks, and gummies.

How Much Will the Biotin Supplement Market Be Worth in 2033?

The biotin supplement market is expected to reach a valuation of USD 8,331.0 million in 2033.

Who are the Prominent Players in the Biotin Supplement Market?

Sports Research, The Nature's Bounty Co., and Pure Research Products are some prominent brands in the market.

How will the Biotin Supplement Market Progress?

The biotin supplement market is expected to progress at a CAGR of 8.5% through 2033.