The Womens Health Ingredients Market is estimated to reach $6.5 billion by 2026. Furthermore and it is poised to grow at a CAGR of 3.84% over the forecast period of 2021-2026. Woman’s health has been seeing increased popularity owing to the recent technological developments and the awareness around being pain-free free, then just suffering. Health ingredients for a woman can be accustomed according to various needs. For example, vitamin deficiency can be countered by taking supplements specifically designed for that. Additionally, manufacturers are revising the potential ways to provide the minimum requirements in food and beverages. Further, cases of hormonal infertility in the form of PCOS have been seeing a surge owing to lifestyle changes and dietary irregularities. Moreover, manufacturers have been actively using slogans such as “save yourself from potential cancer” and “eat healthy without realizing” to promote sales and awareness around the products carrying the ingredients. Lastly, the cases of osteoporosis have been rising in women across the globe owing to calcium deficiency. The introduction of advanced products with favorable technology and rising awareness amongst the woman to find the proper dietary intake owing to the availability of cheap internet are some of the factors driving the women health ingredients industry forward in the projected period of 2021-2026.
Womens Health Ingredients Market Segmentation Analysis – By Nature
The Womens Health Ingredients market based on nature can be further segmented into organic and conventional. The conventional segment held a dominant market share in the year 2020. It is owing to the predominant players coming into the market to maintain cost-profit margins, which dwells down if adopted the organic practice. Moreover, adding preservatives to increase the shelf-life of various products has been a leading reason owing to which the marketers are sourcing from the conventional sources, as the end-product is bio-engineered to bear the preservatives.
However, the organic segment is estimated to be the fastest-growing, with a CAGR of 4.3% over the forecast period of 2021-2026. It is owing to the preferential shift being noticed by marketers, as consumers’ buying decisions are based on particulars such as “Non-GMO,” “Sustainable practices/clean energy,” and various others.
Womens Health Ingredients Market Segmentation Analysis – By Source
The Womens Health Ingredients market based on the source can be further segmented into plant-based and animal-based. The plant-based segment held a dominant share in the year 2020. It is owing to the rising number of vegan consumers across the globe. As per a recent survey, 6% of the consumers in the USA have confirmed that they have turned vegan, which is 6x more than in 2014. Moreover, practices such as greenhouse emissions caused by animal agriculture are close to 18% of the total emissions, which can be largely substantiated by shifting diets.
Moreover, the plant-based segment is estimated to be the fastest-growing, with a CAGR of 4.7% over the forecast period of 2021-2026. As per the plant-based food association, high protein alternates for meat such as tofu or tempeh have gained traction. More so, owing to the high levels of calcium and vitamin D can help women in regaining bone mass, which goes down post-menopause.
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Womens Health Ingredients Market Segmentation Analysis – By Geography
The Womens Health Ingredients market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s woman health ingredients market held a dominant share of 37% as compared to other regions in the year 2020. It is owing to a substantial rise in the cases of infertility and PCOS across a woman, which has forced them to adapt to healthy practices. Moreover, there has been an increase in the female working population which has further made them adapt to healthy foods and substitutes. Moreover, PCOS/hormonal infertility affects close to 5 million women in the US.
However, Asia-Pacific is set to offer lucrative growth opportunities to marketers. It is owing to the rising population of female in various demographics; additionally, strategies such as “Beti-Bachao-Beti Padhao” by the Indian government educates women on the basic rights which includes maintaining and fore keeping their health as prima facie. Additionally, marketers are readily trying to gain entry owing to favorable entry conditions.
Womens Health Ingredients Market Drivers
An increase in the female literacy rates has readily supplemented the growth of the market
A direct correlation can be established with various outcomes and results owing to increasing female literacy rates. As per World Bank, the female literacy rate was close to 75.44% in the year 2020, however, it zoomed to 83.02% by 2019. The increase in the literacy rates has made the woman aware of the basic living standards, helped them in understanding their daily dietary intake owing to various circumstances. Moreover, internet availability has made readily supplanted the market and has been a leading market driver. As per the data, 48.3% of the internet usage across the world is supplanted by woman, of which the developed country ratio goes up to 85.6%. The following adoption of the internet has helped the market to grow.
Innovation across applications has helped in the growth of the market
Research and product launches pertaining to woman’s health has been an ongoing aspect in the industry. More so, after the rising awareness regarding eating and being healthy various innovations were seen, and with different distribution models. For example, STIX a brand for women wellness launched a line of products to test, treat, and prevent UTIs. According to their research, 60% of the woman would develop UTI at least once in their lifetime while 12-24% would develop multiple UTIs. Further, UTIs have been associated with three main causes, increased sexual activity, during pregnancy, and lastly owing to menopause due to vitamin deficiency. Like which, other innovations have been seen which have driven the market forward.
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Womens Health Ingredients Market Challenges
The availability of multiple products offering the same benefit has made the market concentration and profit margins low
Owing to the government’s policies across the domain, marketers can pitch and place their products easily on a variety of domains, due to which product emancipation has occurred. For example, a brand named Manna from India offers a “health drink” with a price of INR 125 for 200 grams; further, a brand like Horlick’s has launched the product line, “Women’s Plus,” with a price of INR 240 for 400 grams. Similarly, attrition in certain lines has been noticed, which is set to hamper the growth of the market.
Womens Health Ingredients Market
Competitive LandscapeProduct launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Womens Health Ingredients market. The top 10-Womens Health Ingredients market companies include:
Eli Lily and Company,
Merck Co & Inc,
Johnson & Johnson Services Inc,
In September 2021, Health and Her launched a product by the name of “Perimenopause Mind+.” The supplement is fulfilled with various vitamins, nutrients, and botanicals that help a woman in hormone balance. Additionally, the product is vegan, gluten-free, with no added preservatives. Additionally, the brand launched its perimenopause symptom tool and tracker to provide women with mood and min support
.In June 2021, Organon was launched as a Women’s health company. The leadership of the team will have women participants. The portfolio will be focused on three main pillars- women’s health, biosimilars, and established brands. Additionally, the company has been a spinoff of Merck and has a product range of more than 60 medicines.
Geographically, North America’s Womens Health Ingredients market held a dominant share in the year 2020. It is owing to the awareness created by the government and other private bodies to readily intake certain ingredients to mitigate the chances of developing cancer or any other malign disease. However, Asia-Pacific is estimated to offer lucrative growth opportunities to the marketers owing to an increase in the literacy rates amongst females and the introduction of various brands to provide supplements to woman.
The rising awareness created due to internet availability across the globe has been a key driver for the market. However, the availability of multiple products offering the same result has acted as a challenge.
A detailed analysis of the strengths, weaknesses, opportunities, and threats will be provided in the Womens Health Ingredients Market Report.
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