In a Hot Flash, Menopause Market Soars, By Cassie Rosenthal for Beauty Matter

With the oldest Gen Xers pushing 60, millennials reaching past 40, and even social media–obsessed Gen Z consumers hitting their late 20s, virtually every consumer product category—from skincare to footwear to leisurewear—is being forced to wrestle with how best to “grow up” alongside their customer base. Nowhere has this generational shift been more pronounced than in the beauty sector. Over the past several years—fueled primarily by TikTok and DIY pandemic trends—Gen Z and millennials have been some of the biggest drivers defining the beauty market, creating demand for new products and driving innovation across the sector. But, as all of us eventually do, even these demos are getting older. Add to that an enormous subset of vocal and outspoken Gen X consumers who are nearing, in the thick of, or moving past menopause and you can understand why there’s been an explosion of female-friendly menopause-focused products that are quickly becoming the next big wellness and beauty trend.

More than 1 million women in the United States experience menopause annually, and with projections of 1.1 billion postmenopausal women worldwide by 2025, there is a monumental market opportunity ripe for the taking. Conservative estimates show the menopause market will be $16 billion by 2025 (CB Insights) and $24.4 billion by 2030 (Grand View Research). As a result, a fast-growing universe of products has emerged over the last few years designed to alleviate an entire spectrum of menopause symptoms—from cosmetic changes (hair thinning and dry skin) to physical ailments (cholesterol, joint pain, and hot flashes) and mental health challenges (insomnia, depression, and anxiety).

Much of the frenzy around new menopause products has been driven by high-profile celebrities like Oprah Winfrey, Michelle Obama, Gwyneth Paltrow, Drew Barrymore, Serena Williams, and others who are outspoken about aging gracefully and don’t shy away from tough topics. And people are listening. Savvy entrepreneurs and investors have all taken notice, with start-ups raising more than $100 million from health tech investors in the past few years. Women investors, in particular, are playing a lead role, with venture funding for “femtech” surpassing $1 billion for the first time in 2021 and it hasn’t yet cooled. Even legacy skincare brands are recognizing the opportunity and are frantically expanding R&D efforts and product offerings to meet the needs of women as they age up.

The corporate world and local governments are also jumping into the fray. In the UK, where menopausal women are believed to be the fastest-growing workplace demographic, the Parliament is calling for new women-friendly office policies, including training about menopause symptoms and physical accommodations like desk fans and breathable uniforms. More than 50 workplaces have now been certified as “menopause-friendly” across the pond, and even New York’s mayor has pledged to “change the stigma around menopause.”

The menopause market is vast. Telehealth start-up services are gaining popularity with brands like Evernow, Peppy, Vira Health, Elektra Health, and Maven Clinic all designed to close the gap in medical care that women are experiencing. Many are backed by notable celebrities and have raised significant funding to date, like Maven’s recent $90 million funding raise.