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Biotin liquid drops are liquid supplements that contain water-soluble B vitamin biotin. Biotin plays an important role in fat and carbohydrate metabolism and supports healthy hair, nails, and skin. Biotin liquid drops provide an easy way for individuals to supplement their diet and fulfill their daily biotin requirements. Biotin liquid drops are known to promote hair growth, strengthen nails, improve energy levels, and aid fat digestion.
The Global Biotin Liquid Drops Market is estimated to be valued at US$ 140.8 Mn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2023 to 2030.
Key Takeaways
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 increasing awareness about biotin deficiency and its benefits is driving the demand for biotin liquid drops especially among health-conscious people. Several market players are focusing on expanding their distribution channels and availability of biotin liquid drops across different regions to tap the global market potential.
Market key trends
One key trend gaining traction in the biotin liquid drops market is the increasing use of natural and organic ingredients in product formulations. Consumers are increasingly preferring natural, plant-based, and organic supplements instead of synthetically derived ones. This has prompted biotin liquid drop manufacturers to offer organic and natural options using ingredients like plant extracts, fibers, and organic carriers. For instance, Nature’s Way and Nested Naturals offer organic biotin liquid drops containing sugar cane extract, fruit juice concentrates, and organic glycerin. The adoption of natural formulations is expected to continue growing strongly over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the biotin liquid drops market is moderately concentrated with established brands having strong brand recognition. However, the production tech is also not very complex.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as biotin liquid drops are easily substitutable with other dietary supplements and daily vitamins providing biotin. There are a large number of buyers in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as switching costs are low for suppliers and raw materials required are also easily available. However, the existing suppliers have established relations with manufacturers.
Threat of new substitutes: The threat of new substitutes is moderate as there are many alternative options like biotin pills and capsules providing the same nutrients. However, liquid drops format is convenient for many.
Competitive rivalry: The competitive rivalry is high due to presence of many established brands and private label products targeting the same customer segment with differentiated products.
Geographical Regions
North America accounts for the largest share in the biotin liquid drops market in terms of value. This is attributed to high consumer awareness about nutrition and health benefits of biotin. The United States holds the major market share in the region followed by Canada.
Asia Pacific exhibits the fastest growth rate over the forecast years in the biotin liquid drops market. Growing middle class population, improving living standards, rising health consciousness are driving the demand in the region. China represents the major share followed by India where biotin deficiency is widespread. Expanding modern retail and E-commerce sector further aids the market growth in Asia Pacific.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
