U.S. 50+ Women’s Multivitamins Market Expected to Reach Half A Billion Dollars by 2027
SAN ANTONIO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- A new analysis by Verify Markets shows the 50+ women’s multivitamins market in the United States was valued at over $300.0 million in 2020 and expected to reach over $500.0 million by 2027. The market is in its nascent stage and is projected to experience a steady growth rate of over 6.0 percent during the forecast period (2020-2027). The key driver for taking multivitamins is the desire for a wholesome life, particularly as people are living longer. Women over 50 are increasingly looking for ways to mitigate the impact of a nutritionally unbalanced diet on their wellbeing. Multivitamins for women over 50 are formulated to address changing nutritional needs of older women. Companies position 50+ multivitamins as products that support healthy aging and claim to support brain health, immunity, bone health, heart health, metabolism, and beauty (hair, skin, and nails).Sales by revenue of multivitamins have realized an uptick during the COVID-19 pandemic as people are looking for ways to boost their overall health and immunity. The pandemic has been a tipping point. Concerns regarding unbalanced nutrition coupled with nutritional deficiencies has received a lot of media attention. There has been an increased focus on achieving optimal nutrition in maintaining health and preventing infection in women over 50. Additionally, there has been an increasing interest in customizable and personalized supplements where tailor-made supplements are offered based on specific concern assessments, lifestyles, and diets. Consumers are increasingly turning to personalized multivitamins as they enable them to address their daily health needs from health to beauty and wellness.
“Increasing awareness of the importance of health and wellness has led to people prioritizing their lifestyles by spending more money on their well-being and taking personal health into their own hands,” notes Shilpa Tiku, Chief Research Officer and Partner at Verify Markets.
The women’s 50+ multivitamins market is characterized by a lack of emphasis on product differentiation or brand identity. There is a need for market players to invest in creating product awareness. Most players claim to provide 50+ multivitamins for heathy aging. In addition to promoting healthy aging benefits, companies claim to support brain health, immune health, bone health, heart health, and metabolism.
The most common product formats in the 50+ women’s multivitamins segment are capsules and tablets. Some companies also offer convenient delivery formats such as gummies for greater simplicity. The key players in the market include Pfizer Inc. (Centrum), Bayer AG (One A Day), Nestle S.A. (Nature's Bounty & Garden of Life‘s Vitamin Code), Otsuka Pharmaceutical (Nature Made), Procter & Gamble Company (New Chapter), Schwabe North America, Inc. (Nature's Way), Harbin Pharmaceutical Group (GNC Holdings, Inc.), Persona, Ritual, Baze, Vitain Vous, Naturello, Enzymedica, Tespo, MegaFood, Smarty Pants, Nourish, and others.
The United States 50+ women’s multivitamin market report captures market drivers, restraints, distribution trends, pricing trends, form factors, competitive landscape, and market share analysis. The market numbers included in this report represent revenues generated by companies offering 50+ women’s multivitamins. The base year for the study is 2020 and the forecast period is from 2020 until 2027.
Verify Markets’ research methodology consists of extensive primary interviews with key participants in the industry along with analysis of secondary resources to validate information. For more information on this report and other research, including custom reports and consulting, contact info@verifymarkets.com or call +1 210.595.9687.