Analyzing Growth Factors: Biotin Supplement Market Forecast by 2023 to 2033

The global biotin supplement market is projected to be the size of US$ 3,696.0 million in 2023. In 2022, the market size was recorded at around US$ 3,432.3 million. Over the forecast period, the market is expected to grow at a rate of 8.5%. By the end of the forecast period, the value of the market is expected to have soared to US$ 8,331.0 million.

Pregnant women, diabetics, and fatigue are prone to biotin deficiency. Dietary supplements are becoming more common among the diets of consumers. The acceptance of nutritional supplements is also aiding the biotin supplements market.

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Growing health trends and awareness are turning people’s attention to health supplements. For specific working populations, the daily food intake lacks some particular vitamins. Therefore, biotin supplements are preferred by consumers who lack vitamin B and suffer from issues like hair loss, nausea, and cracks appearing in the skin.

“As the schedules of working professionals get increasingly packed, less time is devoted to dietary planning. The eating patterns of working professionals are often irregular. Thus, the working population may be bereft of necessary vitamins. Manufacturers in the biotin supplement market can target consumers who are working professionals with inadequate vitamin intake,” says an analyst at FMI.

Key Takeaways from the Biotin Supplement Market:

• The biotin supplement market is predicted to grow and be valued at US$ 8,331.0 million in 2033.
• Drinks/beverages are the preferred form through which consumers take biotin supplements. In 2023, drinks/beverages are predicted to account for 18.2% of the market share by product type.
• Supermarkets/Hypermarkets are the most common sales channel for biotin supplements. In 2023, the supermarket/hypermarket sales channel is expected to account for 13.9% of the market share.
• The United States is a lucrative region for the biotin supplement market. In 2023, the United States is forecasted to contribute 23.9% of the market share.
• China is a fast-growing country in the biotin supplement market. In 2023, the Chinese market is expected to contribute 7.9% of the market share.
• Japan is another country with potential for the biotin supplement market. In 2023, the country is expected to make up 7.0% of the market share.

Competition Analysis of the Biotin Supplement Market:

Companies in the biotin supplement market are relying on marketing to increase the reach of their product. Pharmaceutical giants dominate the market; however, local players with plant-based supplements are gaining traction. Some prominent companies in the market include Sports Research, The Nature's Bounty Co., Pure Research Products, LLC, Zhou Nutrition, Natrol LLC, and Church & Dwight Co. Inc.

Recent Developments in the Biotin Supplement Market:

• In October 2023, Jayant Specialities launched a gummy product infused with vitamins, including biotin. The Indian company had previously been known for masks and hand sanitizers.
• In September 2023, American enterprise Earth's Splendor donated biotin supplements to charity. The brand hoped to counter biotin deficiency in their local area by distributing biotin supplements for free.
• In March 2023, Pet Honesty launched the products Probiotics Gut + Immune Health and Skin and Coat Health. The supplements contain biotin and are meant for 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)