Women’s Health Supplement Market Eyeing US$294 Billion by 2034

The global women's health supplements market was estimated to be worth over US$ 1,42,645.6 million in 2023 by Future Market Insights, and it is projected to expand at a compound annual growth rate (CAGR) of over 7.5% over the course of the forecast period. It is projected that the market valuation will increase from US$ 1,52,169.9 million in 2024 to US$ 2,94,014.8 million in 2034.

The women’s health supplement market has been expanding in recent years. Women are refocusing on taking vitamins & minerals and practicing preventative medicine.

Around half of women over the age of 65 in North Carolina are said to be dealing with two or more chronic conditions, according to the Center for Women's Health Research at UNC Report Card 2022. It is a progress report that focuses on the health and healthcare requirements of North Carolina's 5+ million women. Chronic illness has a detrimental effect on women's general physical, emotional, and financial well-being.

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Women suffering from post-menopausal symptoms of hot flashes, calcium deficiency, difficulty in concentrating, depression, and mental confusion are commonly found problems. Along with this, anemia is extremely common in women of menstruating age, for whom these dietary supplements are very beneficial on a day-to-day basis.

The National Health and Nutrition Examination Survey found that 57.6% of people in the United States aged 20 and above have used a dietary supplement within the previous 30 days. Women were more likely than men to have done so (63.8%).

Due to the rising number of working women and their increased concern for well-being, the demand for different health & beauty supplements has been rising globally. The market for several health supplements among women to keep them fit to deal with a fast-paced life has also been considerably impacted. This is due to the increased awareness among women to maintain a healthy lifestyle and minimize stress.

Key Takeaways from Women’s Health Supplement Market Study:

The global women’s health supplement industry exhibited a CAGR of around 6.1% in the historical period from 2019 to 2023.
The United States is anticipated to showcase a steady CAGR of around 5.5% in the forecast period.
India’s women’s health supplement industry is anticipated to exhibit a CAGR of around 8.5% from 2024 to 2034.
The women’s beauty supplement market in China is projected to hold a share of around 9.1% in 2034.
Based on type, the vitamins & minerals segment is set to witness a CAGR of 8.7% from 2024 to 2034.
In terms of dosage form, the capsule segment is expected to showcase a CAGR of 9.0% in the forecast period.

“An increasing number of women are going through menopause and perimenopause as a result of global population aging. Women in developing nations, where health and wellness knowledge may be limited, frequently find menopause symptoms, such as hot flashes and disturbed sleep, to be mysterious. As a result, medical practitioners who travel to rural areas have begun to advise women to take health supplements,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).

Competition Landscape

The women’s health supplement market is witnessing high demand as individuals become increasingly concerned about their health. This has led to a surging adoption of these supplements by customers, driving growth of the market. The market is characterized by the presence of several players, including local, emerging, and established companies.

For instance,

In June 2022, Herbalife Nutrition, a renowned global nutrition company, partnered with Village Book Builders to not only promote economic opportunities but also provide education to young people in Ghana and Mexico.
In September 2021, Solaray Inc. announced a comprehensive rebranding initiative aimed at directly engaging consumers and inspiring them to embrace meaningful moments in life, regardless of their stage on the wellness journey.

Women’s Health Supplement Market Segmentation:

By Type: