Femtech, consumer health drive innovation in women's wellness

There’s a growing opportunity for brands to create products focused on women’s health needs.

Women's health is experiencing rapid innovation, fuelled by start-ups and increasing investment in femtech, Euromonitor International said.

The report said that whilst large corporations remain cautious, businesses in consumer health, pharma, beauty, and nutrition are ramping up efforts in research, innovation, and market strategies.

Consumer brands have a growing opportunity to tailor offerings with a female-centric focus, addressing unmet needs and aligning with health-focused lifestyles, it added. This includes exploring adjacent markets, reformulating existing products, or leveraging femtech through partnerships, investments, or acquisitions.

Industry professionals cited solving consumer needs as the primary focus for successful innovation, with more than 50% emphasising the importance of targeting underserved areas or creating value for new health occasions to grow categories.

Tracking consumer concerns and interest in new solutions is crucial for identifying areas of opportunity. For instance, menopausal care is emerging as a key area of focus, with an increasing demand for non-hormonal alternatives to alleviate symptoms and improved access to support services.

In beauty, there’s increasing demand for ingredient-led products that address hormonal health's impact on skin and hair. "Scalp health" and "hair loss prevention" remain top consumer priorities, presenting opportunities for brands to develop targeted solutions.

The women’s health supplement market is also growing, with double-digit growth over the past two years.

According to the report, a multidimensional approach to formulations that address issues like stress, anxiety, and menopause can boost consumer appeal.

Moreover, functional foods are gaining ground, especially those targeting health issues more common in women, such as osteoporosis, thyroid disorders, and mental health. Women aged 45-59, a key group for menopausal care, are interested in ingredients that support their health. Transparent communication of benefits is key.

The fortified and functional food market also surpassed $100b in 2023, with dairy products leading the way. Euromonitor said  products in this space can tap into trends in personalised nutrition through technology or tailored advice.