PUBLISHER: DataM Intelligence | PRODUCT CODE: 1033668
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1033668
The global women nutrition market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of XX%.
Women have special nutrition needs due to hormonal changes which occur particularly with the conditions such as pregnancy, menstruation and menopause which alter the recommended daily intake of nutrients. Most of the diseases such as iron-deficiency anemia, heart disease, osteoporosis, type 2 diabetes and some types of cancer affects the women and have a scientific connection to nutrition. In addition, many women look to nutrition for the management of pre-menstrual and menopausal symptoms. The working population has been driving the food and beverage market as well as with their growing awareness and need have creating new trends in the women nutrition market.
Increasing number of health problems and various diseases in women is expected to drive the market
Post menopause female population is more susceptible to diseases such as anemia, osteoporosis, osteoarthritis (OA), fibromyalgia, obesity, and depression. According to the World Health Organization (WHO), 18.0% of women above 60 years have osteoarthritis globally out of which 80% have movement limitations and 25% are not able to perform major activities of daily life. In August 2019, the Food and Drug Administration (FDA) reported that women use various dietary supplements to deal with menopausal symptoms. New product developments that help reduce the risk of health problems associated with post-menopause-like osteoporosis is expected to increase the acceptance of the product. Changing dietary habits and inadequate nutrient consumption is also responsible for causing fertility issues and other problems in women. According to the WHO, hot flashes are experienced by 73% of postmenopausal women, and the sleep disturbances and fatigue associated with it are likely to increase their dependence on certain medications. According to the WHO, in 2016, 15% of women were obese owing to a higher intake of fat-constituted products, rising physical inactivity, and changes in dietary patterns. High prevalence of such conditions post menopause is one of the key factors driving the adoption of such supplements, further driving the market for women nutrition.
Growing awareness among women regarding nutritional requirements along with increasing consumer willingness to spend on health and beauty supplements is anticipated to drive the market expansion. Furthermore, increasing participation of the female population in all aspects of the workforce is a key growth driver. According to a report published by Catalyst in January 2020, women accounted for around 40% of the total labor force globally. The rise in middle-class population, which is the largest consumer group coupled with the increasing prevalence of micronutrient deficiency among women, further boosts the demand for health and beauty supplements. In addition, a rise in disposable income and the number of sales channels with further improve product accessibility.
Favorable initiatives taken by governments and other organizations in creating awareness and improving women's health is also driving the market growth. For instance, the FDA established Current Good Manufacturing Practices (CGMPs) for dietary supplements that companies should follow to ensure the purity, strength, and composition of the products. According to the National Institute of Health (NIH), independent organizations like NSF International, U.S. Pharmacopeia, and ConsumerLab.com offers quality testing and mark a seal of quality assurance on products that pass these tests.
Vitamins held highest market revenue share in the year 2020
In 2020, vitamins held the highest share of over XX% in the women nutrition market. Rising awareness regarding health issues, changing lifestyles, rising disposable incomes, and poor vitamin and supplements intake leading to various issues, such as poor vision, hair loss, brittle nails, and anemia, are the factors driving the growth. Absorption of vitamins through traditional food becomes difficult with increasing age which is anticipated to contribute to the demand for nutrient fulfillment through vitamins and supplements. For instance, Nutri Advanced multi-vitamin tablet, Multi Essentials for women, supports bone health, hormonal imbalance, and premature aging.
Enzymes segment is expected to register a CAGR of 7.3% during the forecast period. Increasing intestinal diseases, rising awareness towards the adoption of nutraceuticals owing to various benefits are the key factors driving the growth. Increased intake of junk food by urban population is resulting in various digestive issues, which is expected to increase the growth of enzymes segment.
By distribution channel, online sales channel is anticipated to be the fastest-growing segment over the forecast period. Retailers' effort in improving online shopping experience through online education, target marketing, convenient, and easy online access is expected to boost the segment growth in the near future. Adoption of various online platforms like Amazon by companies to sell the products is also increasing consumer awareness about the product and rising preference for online sales channels.
Asia Pacific is expected to dominate the global women nutrition market
Asia Pacific accounted for the highest revenue share of over XX% in 2020. Rising disposable income, increasing prevalence of chronic diseases like cancer and diabetes, rising digestive tract diseases, and growing consumer awareness about nutritional products is propelling the regional product demand. Increasing focus on a healthy diet to maintain fitness levels is also boosting the demand for women's health and beauty supplements. Initiatives by countries like India, China, Australia, Singapore, and Japan to create awareness and to educate women regarding nutrition is also boosting the growth of the Asia Pacific market. For instance, In September 2016, Ministry of Health, Australia announced to raise AUD 5.6 million in funds till 2019 to Jean Hailes, a health organization for women. This initiative is undertaken to help the organization in expanding its education and outreach.
The global women nutrition market is highly fragmented with many local as well global players. Some of the key players in the market include: Abbott, Optimum Nutrition, Inc., GNC Holdings, LLC, Amway, ADM, Hamilton Thorne Health Solutions, and Bayer AG among others. Increasing investments in R&D, mergers and acquisitions, collaborations with other industry players, geographic expansions, and product and flavor differentiation are among the key strategies adopted by the market players for gaining a competitive edge. For instance, in October 2020, to help stronger bones and healthier joints in females, Oziva has introduced HerBones. The formula has an impressive array of 100 percent plant-based & vegan ingredients aimed at strengthening bones, encouraging healthy joints and preventing female calcium loss by maintaining optimal female hormonal balance. HerBones is aimed at women with possible calcium deficiency aged 25 years and over. In September 2020, Bayer AG completed the acquisition with KaNDy Therapeutics Ltd., a biotech company in the U.K. This acquisition extends the drug development pipeline in women's healthcare. Bayer AG is completely integrating KaNDy's NT-84 compound into women's healthcare drug development pipeline.
COVID-19 Impact: COVID-19 pandemic boost demand for nutrition supplements
The market saw remarkable growth in 2020-21, owing to a shift in people's lifestyle to focus on health & fitness. During COVID-19 pandemic, an increase in the consumption of sports nutrients, multi-vitamins, immunity booster and other products improves the immune system. The market will increase after pandemic scenario due to changing preferences of healthy and nutritional products.
According to WHO (World Health Organization), managing better immune health will enhance recovery from various virus infections, including coronavirus. Also, nutritional scarcities such as that of protein, vitamin and micronutrients decrease immunity and increase the sensitivity to infections. The factors boost the demand for nutritional products to maintaining fitness and help to strengthen the immunity system. This factor is significantly enhancing the growth of the women nutrition and supplements market during the COVID-19 crisis. Nutritional supplements comprising micronutrients and vitamins C and D are safe, have low cost and are an effective way of helping the immune system fight off COVID-19 from other severe respiratory diseases, thus increasing the demand for women nutrition supplements in the market.
Understand the current market scenario and viability of global women nutrition over the forecast period
Visualize the composition of the global women nutrition market in terms of type, product, form, age, distribution channel, application, and usage to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global women nutrition market - Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market share analysis covering business revenues ($) and revenue share (%) of key market players
The global women nutrition market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
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