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. 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.
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.