NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The feminine hygiene products market amounted to a net worth of US$ 21.5 Bn in 2020, and is anticipated to attain a market valuation of US$ 39 Bn by the end of the decade, since analysts at Persistence Market Research have predicted the market to progress at a healthy CAGR of 6.1% through 2031.
Feminine hygiene has gained substantial importance over the past decades and this importance is only expected to increase as awareness regarding hygiene rises across the globe. Increased per capita disposable across various regions in the world and emergence of low-cost hygiene products are two major factors that are boosting sales of feminine hygiene products.
However, low awareness about feminine hygiene in underdeveloped economies is expected to restrain the market from expanding at its full potential. Allergies and infections associated with certain materials used in these products are also expected to adversely affect overall market growth.
Prime players in the industry are investing in reaching out to untapped markets, are focusing on increasing awareness regarding feminine hygiene, and are adopting organic as well as inorganic growth strategies to boost their sales across regions.
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- Recently, Viveca Biomed announced its plans of expanding globally and exporting its innovative feminine hygiene products worth 2 to 3 million euros. The company has also announced that it would be doubling its workforce by the end of this year as production as its Ashington facility increases.
- Feminine hygiene care brand Moons, in August 2021, announced the launch of its new tampon and liner system, which would change the way menstruators experience their monthly cycles. The product is designed to protect from leaks during periods, which is a common issue among women, and is intended to provide 100% leakproof reliability.
Key Takeaways from Market Study
Over the next ten years, the feminine hygiene products market is expected to expand at a CAGR of 6.1%.
- The market in China is expected to rise at the fastest pace over the decade.
- Sanitary napkins and tampons are predicted to dominate the market in terms of market share.
- Sales forecasts for feminine hygiene products for 2031 are anticipated to be around US$ 39 Bn.
- In terms of value, the retail pharmacies segment is expected to dominate the market over the forecast period.
- Demand for feminine hygiene products is expected to be driven by rising awareness regarding feminine hygiene, increasing per capita disposable income, growing standards of living, etc.
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"Demand for feminine hygiene products in emerging and developing economies is expected to see a major boost as disposable income increases and lifestyle changes," says a Persistence Market Research analyst.
The global market for feminine hygiene products has been identified as a fairly fragmented space due to the presence of a high number of market participants.
Some of the key market players included in the report are Lil-lets UK Limited, Edgewell Personal Care, Ontex, Sanofi, Johnson & Johnson, Svenska Cellulosa Aktiebolaget SCA, Unicharm Corporation, Procter and Gamble, Diva International Inc., and Kimberly-Clark Corporation.
The above are identified as key suppliers of feminine hygiene products. These market participants are engaged in market expansion activities and are developing new strategies to increase their sales on a global level.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global feminine hygiene products market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
The report provides an in-depth analysis of the market through different segments, namely, product type, distribution channel, and region. The report also provides supply and demand trends along with an overview of the parent market.
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