Testosterone Booster Supplements Market

Testosterone Booster Supplements Market Outlook (2023 to 2033)

Newly-released testosterone booster supplements market analysis report by Fact.MR reveals that global sales of the testosterone booster supplements market in 2022 were held at US$ 72.8 million. With 6.4% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 144.2 million by the end of the forecast period.

Mucuna Pruriens is expected to be the significant revenue-generating type in the market, projected to grow at a CAGR of over 6% from 2023 to 2033.

Attributes	Details
Global Testosterone Booster Supplements Market Size In 2022	US$ 72.8 Million
Global Testosterone Booster Supplements Market Size at End of Forecast (2033)	US$ 144.2 million
Global Testosterone Booster Supplements Market CAGR (2023 to 2033)	6.4%
U.S. Testosterone Booster Supplements Market CAGR (2023 to 2033)	6.2%
Key Companies Covered	TestoFuel GNC Holdings, LLC SMP Nutra Hybrid Nutraceutical VH Nutrition LLC Roar Ambition Ltd Ultra Testo Rush EVLUTION NUTRITION Zoic Pharmaceuticals Uniraylifesciences BL Bio Lab, LLC Nutritjet

Revenue of Testosterone Booster Supplements Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the research of the testosterone booster supplements market by Fact.MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 4% CAGR. With an absolute dollar opportunity of US$ 67 million, the market is projected to reach a valuation of US$ 144.2 million by 2033.

What are the Key Drivers Influencing the Market Expansion?

Testosterone booster supplements are dietary supplements designed to increase the levels of Testosterone, the primary male sex hormone in the body. These supplements often contain a blend of natural ingredients, such as herbs, vitamins, and minerals that are believed to support the body's natural Testosterone production. The supplements are marketed to men who may have low Testosterone levels, which can lead to several symptoms, including decreased sex drive, decreased muscle mass, and fatigue.

Ashwagandha is a popular herb in Ayurvedic medicine, and it has been studied for its potential benefits in various health conditions, including Testosterone boosting. According to the American Botanical Councils journal, Ashwagandha was the fifth most-selling herbal ingredient in the U.S. natural retail channel in 2019, with US$ 13.7 million in sales.

Ashwagandha supplements also witnessed the third-highest sales growth after cannabidiol (CBD) and elderberry supplements, with 45.2% sales growth, to reach US$ 10.8 million in sales. These may help to increase Testosterone levels in men with low Testosterone.

In 2021, global dietary supplement sales were over US$ 151.9 million and are expected to grow at a CAGR of 8.9% during the forecast period. Due to changing lifestyles, rising consumer awareness, and a surging geriatric population, the demand for dietary supplements increased in the past few years. Increasing acceptance of dietary supplements due to their health benefits increases the demand for dietary supplements which influences the market growth.

Region-Wise Analysis

Which Region is Projected to add Significant Revenues to the Market?

North America is a prominent shareholder in the market with a market size of US$ 20.3 million in 2022. It is projected that the region will have a market worth US$ 40.3 million by 2033.

In 2020, around 8.3 million adults in Canada were obese, while the number of adults who were overweight was over 10 million. Obesity can lead to lower Testosterone levels, which can contribute to a variety of health problems including decreased muscle mass, decreased bone density, and decreased sex drive. Testosterone booster supplements help to increase Testosterone levels in men with low Testosterone. The increase in the obesity in country is expected to influence the demand for Testosterone booster supplements in the future.

Country-Wise Analysis

United States Testosterone Booster Supplements Market Analysis :

The market in the United States is expected to grow to be worth US$ 34.8 million by 2033, with an absolute dollar growth of US$ 15.8 million from 2023 to 2033. The market in the United States has grown at a CAGR of 3.8% from 2018 to 2022 and is expected to grow at a CAGR of 6.2% from 2023 to 2033.

According to Nutrition Business Journal (NBJ), in 2020, U.S. sales of ashwagandha spiked over 50.4% to US$ 198 million. The projected sales reached over US$ 252 million in 2021. Ashwagandha supplements sales reached nearly US$ 83.4 million in 2022.

Testosterone is a hormone that plays an important role in male health which includes muscle mass, bone density, and sex drive. These supplements are used for boosting the Testosterone level in men. With the rise in demand for ashwagandha supplements, the market for Testosterone is projected to expand during the assessment period.

United Kingdom Testosterone Booster Supplements Market Analysis :

The market in the United Kingdom is expected to grow to be worth US$ 5.3 million by 2033, with an absolute dollar growth of US$ 2.2 million. The market in the country has grown at a CAGR of 3% from 2018 to 2022 and is expected to grow at a CAGR of 5.5% from 2023 to 2033.

The prevalence of hypogonadism increases with age, with estimates ranging from 2-5% in men aged 40-70 years to 20-30% in men aged 70 years or older. The rising prevalence of hypogonadism, rising awareness of Testosterone deficiency, and the growing aging male population are some of the factors driving the market growth.

China Testosterone Booster Supplements Market Analysis :

In China, the market is expected to grow to be worth US$ 18 million with an absolute dollar growth of US$ 7.8 million. The market in China has grown at a CAGR of 3.4% from 2018 to 2022 and is expected to grow at a CAGR of 5.9% from 2023 to 2033.

The total dietary supplement sales in China increased from US$ 36.4 million in 2019 to US$ 39.3 million in 2020, representing a year-over-year growth rate of 7.6%. The increasing consumer interest in natural remedies helps the growth of the dietary supplements market. The increasing demand for dietary supplements influences market growth.

India Testosterone Booster Supplements Market Analysis :

The market in India is expected to grow to be worth US$ 14.7 million by 2033, with an absolute dollar growth of US$ 5.7 million. The market in India has grown at a CAGR of 2.5% from 2018 to 2022 and is expected to grow at a CAGR of 5% from 2023 to 2033.

India is one of the largest producers of fenugreek worldwide. According to the Food and Agriculture Organization of the United Nations (FAO), India produced around 615 thousand metric tons of fenugreek in 2019, accounting for approximately 80% of global production.

Several Indian companies are involved in producing and exporting fenugreek supplements in various forms, such as capsules, powders, and extracts. In 2019, the Indian fenugreek supplement sales were around US$ 57 million and it is expected to grow at a CAGR of around 6% during the forecast period. The growing demand for fenugreek supplements in the market also indicates at the surge in demand for Testosterone booster supplements.

Japan Testosterone Booster Supplements Market Analysis :

In Japan, the market is expected to grow to be worth US$ 9 million with an absolute dollar growth of US$ 3.3 million. The market in Japan has grown at a CAGR of 2% from 2018 to 2022 and is expected to grow at a CAGR of 4.6% from 2023 to 2033.

Ginseng extract supplements are rapidly growing in Japan due to increasing consumer interest and traditional remedies for health and wellness. The ginseng extract sales in Japan were around US$ 41 million. Ginseng extract supplements are commonly used in the country for their potential health benefits, including boosting Testosterone levels and improving cognitive function. This influences market growth for Testosterone supplements as well.

Category-Wise Insights

Why Mucuna Pruriens-based Testosterone Booster Supplements is Projected to Witness Significant Growth?

Sales of Mucuna Pruriens-based Testosterone supplements are projected to witness significant growth with a CAGR of 3.8% from 2018 to 2022 and are expected to grow at a CAGR of 6.2% from 2023 to 2033.

Mucuna pruriens are known to have health benefits such as reducing stress, improving mood, and supporting cognitive function, which further increases its popularity among consumers. The market growth is mainly driven by increasing awareness about the benefits of Testosterone booster supplements, rising disposable incomes, and growing preference for natural and herbal ingredients.

Competitive Analysis

Key players in the market are TestoFuel, GNC Holdings, LLC, SMP Nutra, Hybrid Nutraceutical, VH Nutrition LLC, Roar Ambition Ltd, Ultra Testo Rush, EVLUTION NUTRITION, Zoic Pharmaceuticals, Uniraylifesciences, BL Bio Lab, LLC and Nutritjet.

A few of the recent developments in the market are :

• In December 2020, GNC Holdings announced its acquisition of LuckyVitamin, an online retailer of health and wellness products, including dietary supplements and vitamins.
• In August 2021, Endo International announced that it had received FDA approval for a new Testosterone injection called AVEED. AVEED is designed to be given once every 10 weeks, compared to other Testosterone injections that are typically given once every 2-4 weeks.

Segmentation of the Testosterone Booster Supplements Market

• By Source :

  • Mucuna Pruriens
  • Ginseng
  • Oyster Extract
  • Fenugreek
  • Ashwagandha
  • Forskohlii

• By Form :

  • Capsules
  • Powder

• By Distribution Channel :

  • Online Sales
  • Hypermarkets & Supermarkets
  • Pharmacy Stores

• By Region :

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa