Feminine Hygiene Products Market Size, Share, Growth Trends, and Forecast Analysis to 2031
Government initiatives undertaken to spread awareness about women health and menstrual hygiene, besides brand consolidation strategies by leading producers and the adoption of modern lifestyles by women will push feminine hygiene products sales in the coming years.
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According to the recent Future Market Insights (FMI) report, the global feminine hygiene products market value is estimated to surpass US$ 27.6 Bn in 2021, with a CAGR of 7.0% during the forecast period (2021-2031).
Around 49% of the global population is female and nearly 65% of them are aged between 15 and 65 years, thereby indicating a significant opportunity for manufacturers of feminine hygiene products.
Government organizations are focusing on women’s health and hygiene with the help of launch of various awareness programs and funding activities. These programs include detailed education about menstruation, puberty, and the advantages and health benefits of using hygiene products.
They are also providing sanitation kits to girls studying in government schools and colleges in rural areas, particularly in developing economies around the globe. For instance, in 2017, the Department of Education in KwaZulu-Natal (KZN) of South Africa set aside Rs 50 million to fund the distribution of sanitary towels and napkins to various schools in the region.
Additionally, rising female populations in countries such as India, Ghana, and Nigeria will create lucrative opportunities. Concerns regarding disposal, have resulted in the introduction of reusable menstrual cups. These cups are made from medical grade silicon or latex and cost between US$ 20 and US$ 50 per pack and can last for nearly five years. Such innovations will give tailwinds to growth registered in the market.
The impact of the ongoing COVID-19 pandemic on production of feminine products has been negligible despite short term disruptions of transportation and logistics.
Key Takeaways from Feminine Hygiene Products Market Study
- Sanitary napkins are the largest and fastest growing segment accounting for nearly half of the market by 2031, with a CAGR of over 8%.
- Supermarket are projected to account for over 22% of the global market by 2031. This is attributed to robust supply channels for consumer health products.
- East Asia is the largest revenue-generating region for feminine hygiene products, with the China accounting for nearly 81% of the regional market in 2021.
- Germany holds the lead in Europe, and is expected to accounting for over 18% of the market in 2031.
- South Asia is the second most lucrative market after East Asia with India accounting for over 75% of the value share in 2031.
“The acceptance of new feminine products among the female population and government support to start-ups will create growth opportunities for manufacturers through the assessment period. Investments in online sales channels will remain key focus for companies in the coming decade,” says the FMI analyst.
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Who is Winning?
Some of the leading manufacturers of the feminine hygiene products market are focusing on mergers and acquisitions for global expansion. Thus, enhancing their market presence. For example,
- In Jan 2020, the Procter and Gamble focused on digital marketing with advertising associations in countries around the world – like the World Federation of Advertisers, the Association of National Advertisers in the U.S., and the Incorporated Society of British Advertisers in Europe.
- In October 2020, Kimberly-Clark completed the acquisition of Softex Indonesia. This acquisition accelerated the company’s growth in key personal care categories across Southeast Asia.
The key market players covered by FMI include Procter and Gamble, Johnson and Johnson, the Kimberly-Clark Corporation, Svenska Cellulosa Aktiebolaget SCA, Sanofi S.A, Lil-lets UK Limited, Ontex, Unicharm Corporation, Diva International Inc., and Edgewell Personal Care.