Market Overview:
Biotin liquid drops are water-soluble B vitamin supplements that are taken orally in liquid form. Biotin is an important B-complex vitamin that acts as a coenzyme in the metabolism of fats, amino acids, and glucose. It plays a key role in the Krebs cycle where energy is produced in cells. Biotin liquid drops provide a convenient way to supplement biotin and help maintain healthy hair, skin, and nail growth. They are an easy-to-take option versus pills or capsules for those who have difficulty swallowing. Biotin liquid drops also allow for accurate dosing especially in children.
Market key trends:
Changing lifestyles and increasing health consciousness have propelled the demand for nutrient-rich supplements in recent years. Deficiency of key vitamins and minerals has been on the rise globally due to fast-paced living, poor dietary habits, and high stress levels. As per research, biotin deficiency symptoms are common among certain demographics including pregnant women and the elderly. This has prompted increased adoption of biotin supplements. Among available forms, the liquid drops segment has witnessed high uptake owing to benefits such as quick absorption, uniform dosing, and compatibility with various ages. Manufacturers are launching innovative flavors and natural formulations to appeal to a wider consumer base. Technological advancements in liquid formulation have also augmented the quality and shelf life of biotin liquid drops.
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.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the biotin liquid drops market is moderate. Established brands have strong brand recognition and distribution channels. However, startups can enter this market by introducing innovative products.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of numerous brands in the market. Buyers can easily switch to substitute products based on price and additional benefits.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. There are many suppliers for the raw materials used in biotin liquid drops, which reduces suppliers’ control over prices.
Threat of new substitutes: The threat of new substitutes is high as vitamin and supplement products in other forms like capsules and pills cansubstitute biotin liquid drops.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous established brands.
Key Takeaways
The global biotin liquid drops market is expected to witness high growth, exhibiting CAGR of 8.3% over the forecast period, due to increasing awareness about biotin benefits and growing health-conscious population.
Regional analysis: North America is expected to dominate the global biotin liquid drops market owing to rising health consciousness and increasing adoption of nutraceutical products in the region. Additionally, Asia Pacific is anticipated to exhibit the fastest growth in the market over the forecast period due to growing millennial population, rising disposable income, and increasing expenditure on biotin supplements in the region.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
