The research, which was conducted by market intelligence and trend forecasting platform, Centric Market Intelligence, reviewed extensive data from 21 beauty retailers, including Boots, Selfridges, Net-a-Porter, Sephora and Space NK over the past three years, utilising competitor benchmarking, pricing intelligence and search data.
It found that in the UK, the hair, beauty and personal care supplement market is “exponentially breaking consumer record demands.” Yet, despite this high demand, the study also showed that prices of these products on average had fallen by 25% across the market, when compared to the start of 2021.
According to Centric Market Intelligence, this was because more products have hit the market over the past three years and a pricing pressure had been created among retailers, which has given customers more options.
In terms of pricing Centric Market Intelligence said that the cost of beauty supplements remained relatively steady throughout the year and the highest ‘annual sold-out rate’ for supplements was in 2023.
Hair growth & anti-ageing supplements are a focus
The search term ‘Hair growth supplements’ had seen a 100% year-on-year increase in searches, which could potentially be attributed to consumers seeking products that can enhance and or support hair growth, as well as lifestyle changes and broader wellness trends.
In relation to this trend for hair growth supplements, there had been a 76% hike in searches for ‘biotin supplements’ – a nutrient that is related to hair growth.
Hair supplements were also the most expensive category, priced at £39.90 on average, however prices had dropped by 26% throughout the year.
There was also a 51% year-on-year increase in searches for ‘collagen powder’ and a 20% rise in searches for ‘collagen tablets’, as more consumers hunt down convenient ‘inside-out’ anti-ageing solutions that they can easily add to their diet.
Searches for ‘keratin supplements’ – a protein source to encourage hair and nail growth – were also up by 43% in the UK year-on-year.
According to Centric Market Intelligence’s resident expert, Elizabeth Shobert, consumers are increasingly embracing the blurred line between beauty and health, looking for products like supplements that can enhance their overall health and wellness.
“We expect these trends to continue to pick up steam globally and we also expect to see increased innovation around product format, application and efficacy in the coming years,” she said.
