Rockville, June 14, 2023 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: At a high-value CAGR of 10.3%, the menopausal wellness market is anticipated to soar and reach a valuation of US$ 32.87 billion by the end of 2033, up from US$ 12.33 billion in 2023.
Women going through menopause are no longer stigmatized because it is now recognised as a natural period of ageing. This has increased interest in talking about menopause and the need for products and services that can help women manage their symptoms and improve their quality of life generally.
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Key Driving Forces Accelerating the Market Growth
- Women today are more health-conscious than ever before and are actively seeking ways to improve their well-being during menopause. This has led to increased interest in natural and holistic approaches to managing menopause symptoms.
- The North American population is aging, with a large number of women entering menopause. As the baby boomer generation reaches this stage, there is a substantial market of menopausal women seeking solutions for managing symptoms and maintaining overall well-being.
- China, Japan & the US are key countries dominating the demand for menopause wellness products. Moreover, the market in three countries is expected to expand 10-11% CAGR during the next 10 years.
- The advent of technology and digital platforms has made it easier for women to access information, products, and services related to menopause wellness. Online communities, mobile apps, and telemedicine have all contributed to the growth of the market by providing convenient solutions for women seeking support and guidance.
- There has been a cultural shift in attitudes towards menopause, with a greater emphasis on empowering women and promoting self-care. This has created a more open and accepting environment for discussing menopause-related issues, leading to increased demand for relevant products and services.
Vital indicators shaping the future of the industry
- Ongoing research and development efforts in the field of menopause wellness will play a crucial role in shaping the market. Advancements in understanding menopause symptoms, hormonal changes, and effective treatment options will drive innovation and the introduction of new products and services.
- The regulatory environment surrounding menopause wellness products and services will impact the market's future. Regulations related to hormone replacement therapies, dietary supplements, and other menopause-related interventions will shape the industry's growth trajectory.
- Consumer preferences and demographics will have a significant impact on the market. As the demographics of menopausal women evolve, their expectations, needs, and purchasing behavior will influence the types of products and services in demand. Preferences for natural and holistic approaches, personalized solutions, and convenience will shape the market's future direction.
- Continued technological advancements will drive innovation in the menopause wellness market. Technologies such as wearable devices, telemedicine, mobile applications, and personalized health-tracking tools will enhance the delivery of menopause-related solutions and support, providing women with more accessible and tailored options.
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Challenges hindering the market growth
- Despite increasing awareness, menopause is still surrounded by stigma and misconceptions. Many women and even healthcare providers may not fully understand the range of symptoms and the importance of menopause wellness. Limited awareness hampers market growth by reducing demand for relevant products and services.
- The menopause wellness market lacks standardized guidelines and regulations. This can lead to inconsistent product quality and efficacy, making it challenging for consumers to navigate the market and choose reliable solutions. The absence of clear standards also poses challenges for healthcare providers in recommending appropriate treatments.
Strategies for manufacturers/suppliers to scale in the market
The Menopause wellness market is highly fragmented and the growing demand for wellness products has pushed market valuation to grow rapidly in the past half-decade.
- Key companies should expand their product portfolio to offer a wide range of menopause wellness solutions. This can include supplements, hormone replacement therapies, skincare products, sleep aids, herbal remedies, and other relevant products. Diversification helps cater to the diverse needs and preferences of menopausal women, increasing market penetration.
- Moreover, companies should focus on establishing strategic partnerships with distributors, retailers, and e-commerce platforms to expand the distribution network. Ensure that products are readily available in various channels, including pharmacies, health food stores, online marketplaces, and healthcare facilities. Accessibility and convenience play a crucial role in capturing a larger market share.
For instance:
- In 2020, DrFormulas launched a new supplement Nexabiotic, which helps support the immune system in the fight against cold and flu germs.
- In 2020, Natrol launched three drug-free energy products, Relaxia Ultimate Calm, Relaxia, Day Calm, and Relaxia Night Calm.
- DSM, the parent company of i-health, strategically partnered with Huami Corp. on wearable technologies and health tracking to improve personalized nutrition.
Key Companies Profiled
- LifeSeasons
- Source Natural
- Estroven
- Natrol
- Nature's Answer
- Nature's Way
- Now Foods
- Organic India
- Amway
- Pure Essence
- Dr. Tobias
- Solgar
- Solaray
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Key Segments of Menopause Wellness Industry Research
- By Product:
- Black Cohosh Root Extract
- Calcium Supplements
- DHEA Supplements
- Dong Quai Extract
- Flaxseeds/Oil
- Ginseng
- Phytoestrogen Supplements
- Multivitamins
- St. John's Wort Supplements
- Vitamin D
- Wild Yam Root Extract
- By Primary Function:
- Mood Swing Control/Hormonal Balance
- Hot Flashes & Night Sweat Relieving
- Bone Health
- Libido Support
- By Form:
- Caplets
- Capsules
- Liquid
- Tablets
- By Sales Channel:
- Direct Sales
- Supermarkets & Hypermarkets
- Pharmacies & Drugstores
- Wellness Specialists
- Company Online Channels
- Third-party Online Channels
- Practitioner Channels
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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