by Market Overview:
Biotin, also known as vitamin B7 or vitamin H, is water-soluble B vitamin that plays key roles in fat synthesis, amino acid metabolism and energy production. Biotin liquid drops offer additional convenience of liquid formulation as compared to capsules or tablets. It helps strengthen hair, skin and nails. Biotin drops provide support for healthy metabolism, nervous system function and cell growth. As consumer preference shifts towards liquid supplements owing to easy administration, biotin liquid drops market is expected to witness steady growth.
Market Dynamics:
Growing awareness regarding health benefits of biotin supplementation is a key driver for the biotin liquid drops market. Biotin helps maintain optimal energy levels, break down fats and carbohydrate and strengthen immune system. This increased awareness amongst health-conscious consumers regarding the multifunctional properties of biotin is augmenting the market growth. Furthermore, rising focus on preventive healthcare also contributes to the demand for biotin supplements. However, availability of cheaper biotin tablets and capsules poses a challenge for market growth of premium liquid formulations.
The global Biotin Liquid Drops Market Growth is estimated to be valued at US$ 140.8 Mn in 2023 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The global biotin liquid drops market can be segmented based on distribution channel into pharmacy chains, hospitals & clinics, online retailers, retail stores, and others. The online retailers segment is dominating the market due to easy accessibility and availability of biotin liquid drops on e-commerce platforms. Customers are increasingly purchasing biotin liquid drops from online portals owing to attractive deals and discounts offered by various online retailers.
PEST Analysis
Political: The government regulations regarding the use of biotin in dietary supplements are becoming stringent. The regulatory authorities are imposing quality standards to ensure the safety of supplements.
Economic: The rising disposable income and growing health consciousness among individuals are fueling the demand for biotin liquid drops globally. However, availability of cheaper alternatives may hinder the market growth.
Social: Changing lifestyles, increasing awareness regarding health benefits of biotin, and busy schedules are encouraging consumers to adopt biotin liquid drops for meeting their daily nutrient requirements.
Technological: Advancements in biotechnology have enabled manufacturers to develop new formulations of biotin liquid drops with improved absorption and bioavailability. Some companies are coming up with advanced packaging solutions to enhance the shelf life of the products.
Key Takeaways
The global biotin liquid drops market is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period of 2023 to 2030, due to increasing awareness about health benefits of biotin among consumers.
Regional analysis: North America holds the largest share in the global biotin liquid drops market owing to rising health consciousness and increasing adoption of supplements to treat biotin deficiency in the region. Asia Pacific is expected to exhibit the fastest growth over the forecast period attributed to expanding middle-class population and growing wellness trends in countries like India and China.
Key players operating in the biotin liquid drops market are Sports Research, Zhou Nutrition, Zenwise Health, Natrol, Nature’s Bounty, Jarrow Formulas, Bronson, Country Life, Nature’s Way, Pure Research Products, Physician’s Choice, Horbaach, Olly Public Benefit Corporation, Vitafusion, Nature Made, Pure Encapsulations, Solgar, Garden of Life, Nested Naturals, Life Extension. The key players are undertaking strategic initiatives such as new product launches, mergers, and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
