Capsules to Hold More than Half of Menopause Wellness Market Share, Opines Fact.MR
Published : 22 Mar 2021 Industry: Consumer Goods
Menopause is a biological cycle that occurs in women between the ages of 40 to 55 years. During this period, women experience copious health issues, including hot flashes, night sweats, musculoskeletal pain, etc., which generates the necessity for wellness supplements to get relief. These conditions can also lead to severe diseases and serious conditions, owing to which, demand for menopause wellness products is continuously surging. Rising global woman population and female consumer awareness regarding related products available in the market has amplified demand.
Demand growth for wellness products is moving from developed economies to evolving economies. Rising female disposable income, government initiatives, and changing spending behavior are constructing consumer aspirations towards the consumption of menopause wellness products. Demand for menopause wellness products in the capsule form is the highest, and this segment holds more than 50% market share.
As per Fact.MR analysis, the global menopause wellness market is set to expand at a healthy CAGR of more than 10% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- The global menopause wellness market is anticipated to add 3X value by 2031.
- Black cohosh root extract captures a governing share of the global market, and is set to create over a billion dollar opportunity over the long-term forecast period.
- North America is set to dominate market revenue in 2021, and is expected to gain 173 BPS in its market share by 2031.
- Direct sales is anticipated to lose around 181 BPS over the forecast period of 2021-2031.
- China, Japan, and the United States of America are key countries dominating the demand for menopause wellness products.
- The market in the U.S., U.K. China, and India are all slated to expand at 10% to 11% CAGRs over the next ten years.
“Market growth is set to surge in accordance with regional policies and nutraceutical industry tunes,”says a Fact.MR analyst.
Fragmented High Potential Market: Competition Tuning Factor
Key manufacturers of menopause wellness products are Amway, DrFormulas / One a Day, Dr.Tobias, Estroven, LifeSeasons, Natrol, Nature's Answer, Nature's Way, Now Foods, Organic India, Pure Essence, Solgar, Source Natural, and Solaray. The market is fragmented in nature, most of the big players positioned in North America and Europe.
Growing demand for menopause wellness products and rising woman population have allowed market valuation to grow rapidly in the past half-decade. Despite market fragmentation, higher potential of these products will attract new players over the coming years.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global menopause wellness market, presenting historical demand data (2016-2020) and forecast statistics for 2021-20301. The study divulges essential insights on the market based on menopause wellness products (black cohosh root extract, calcium supplements, DHEA supplements, dong quai extract, flaxseed/ oil, ginseng, phytoestrogen supplements, multivitamins, St. John's Wort supplements, vitamin D, and wild yam root extract), primary function (mood swing control / hormonal balance, hot flashes night sweat relieving, bone health, and libido support), form (caplets, capsules, liquid, and tablets), and sales channel (direct sales, supermarkets and hypermarkets, pharmacy and drugstore, wellness specialists, company online channels, third-party online channels, and practitioner channel), across four major regions of the world (North America, Europe, Asia Pacific, and the Rest of the World).
About the Retail & Consumer Goods Division at Fact.MR
Retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio.
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Shambhu Nath Jha
Sr. Consultant –Retail & Consumer Goods