Biotin is referred to as vitamin B7 or vitamin H. It is used in a wide range of metabolic processes which has increased its applications across industry domains. It is presumed to drive the demand for biotin supplements over the next couple of years. The global biotin supplements market, according to the findings in this report, is expected to mark a healthy CAGR over the assessment period owing to increasing demand for the product. The market is anticipated to be evaluated at a decent valuation by the end of the forecast period.
Increasing awareness about the benefits of the product is likely to drive the expansion of the biotin supplements market in the years to come. It is also used by the personal care industry to produce supplements that support skin rejuvenation and hair growth. These benefits of the product are likely to impact the biotin supplements market favorably in the forthcoming years. Increasing income levels of the middle-income population are assessed to expand the consumer base of the biotin supplements in the long run. It is anticipated to catapult the market on upward trajectory.
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A rise in the patient population suffering from biotin deficiency has been observed. The changes in lifestyle are anticipated to trigger the deficiency. It is expected to boost the growth pace of the biotin supplements market across the next few years. Also, the rising awareness about the deficiency diseases is anticipated to open new growth channels for the players of the market. However, the absence of awareness about biotin and its benefits in underdeveloped and developing regions still remain impediment to the expansion of the biotin supplements market.
The key manufacturers covered in this report:
Church & Dwight
On the basis of product type, the biotin supplements market has been segmented into capsule, tablet, liquid, powder, and others.
On the basis of application, the biotin supplements market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The geographical evaluation of the global biotin supplements market has been covered in this report in detail. The regional segments identified for the assessment are – Americas, APAC (Asia Pacific), Europe, and the Middle East & Africa. North America houses a number of global leaders of the biotin supplements market. It is expected to drive the growth of the regional market over the next couple of years. The region is presumed to retain a substantial position in the market place in the years to come. Europe biotin supplements market is also projected to witness an upswing in terms of revenues. It is due to the rise in health-conscious population in the region.
In October 2019, Sephora has announced the launch of its newest products which include Briogeo B. Well Vegan Omega Supplements that are biotin-infused tablets for hair growth.
In October 2019, Drink Nutrient, a functional beverage company, has announced the launch of a new beverage product line, which consists of essential vitamins such as Biotin, Vitamin E, Vitamin K, Vitamin D, Vitamin B1 (Thiamin), etc.
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