Pause for thought - The emerging menopause care market
Females make up 49.5% of the world population to date. Around 80% will experience, are experiencing and have experienced menopause in their life.
Globally, the menopause market is expected to reach $4.9billion by 2027, with players emerging in the skin, body care and sexual wellness space.
Menopause: The end of a woman’s reproductive life. At menopause, ovulation no longer occurs and production of oestrogen and progesterone ceases. With an abundant consumer market that offers beauty, fitness and fashion products to women, it has become apparent there is an opportunity to provide products and solutions for women going through the menopausal phases in their life.
Menopause is a challenging and impactful time for women and can span from anywhere between 12 months and five years.
A growing number of brands are emerging to cater to this market, with names including but not limited to:
One of the most significant reasons for the emergence of this market is that founders of these menopause focused brands have felt unseen and uncatered-to during this time in their life.
The inspiration for Womaness came from co-founder Sally Mueller’s experience of going through perimenopause and being dissatisfied with the available treatment options for it.
Co-founder Michelle Jacobs says, “We’re not competing with hormone replacement therapy. If you go into a Target or CVS or any of the retail stores you shop in, there should be something for you—skincare, supplements, incontinence. These were really common symptoms, and these women should have a brand for them.”
The other Co-founder of Womaness, Sally Mueller said her doctor supplied her with a list of products to purchase to alleviate the symptoms she was dealing with. “I started looking online at the products and thought, ‘I am never, ever, buying these products,’” she says. “The names are bad, the packaging…nothing speaks to me. It’s nothing against Mayo Clinic. They were trying their best, but there just wasn’t a lot of product out there.”
The emergence of Womanness and brands alike can result in greater advertising and marketing diversity (young influencers can not promote), increased availability in stores, greater visibility for the demographic and education of what menopause is like for women in a broader landscape.
It could now be the market investors flock to and one where we soon see ads from Unilever and Johnson & Johnson owned brands on television too.