The global feminine hygiene products market size is projected to reach USD 54.52 billion by 2028 from USD 38.18 billion in 2021 and exhibit a CAGR of 5.22% during the forecast period. The increasing awareness for hygiene maintenance during menstruation and the growing menstrual literacy rate is anticipated to boost the market growth. Fortune Business Insights™ has presented this information in its report titled, “Feminine Hygiene Products Market, 2021-2028.” The market size stood at USD 37.20 billion in 2020.
Feminine hygiene products are continuously recommended by healthcare professionals to reduce the infections and certain health conditions that arise due to poor genital hygiene during menstruation. This factor is expected to stimulate the growth of the market for these products in the near future.
COVID-19 Impact-
The sudden emergence of the coronavirus pandemic has drastically impacted the global economic structure and stagnated the growth of several industries and markets, including the market for hygiene products. The “Periods in a Pandemic” report published in May 2020 stated that about 73% of the individual surveyed had restricted their access to menstruation products due to supply chain disruptions and product shortages. Also, the menstruation products cost high, which limited their sales. Nonetheless, vaccines are now available to the global population, and the market is gradually recovering. The market is expected to witness steep growth post-pandemic.
Segmentation-
On the basis of product type, the market is segmented into menstrual care products and cleaning & deodorizing products. On the basis of distribution channels, the market is fragmented into drug stores, convenience stores, hypermarkets/supermarkets, and others. Geographically, the market is categorized into five major regions- North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage-
- Highlights the key emerging trends for the market.
- Illustrates the latest technological advancements in the market.
- Provides valuable insights into the regulatory scenarios of the market.
- Highlights the impact of the COVID-19 pandemic.
- Highlights the regional analysis across five major geographies: North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Drivers & Restraints-
Increasing Menstrual Literacy Rate to Boost Market Growth
Poor hygiene during menstruation can cause infections and other severe diseases. The increasing awareness for hygiene maintenance during menstruation is expected to boost the growth of the market. Additionally, the increasing menstrual literacy rate escalated education levels, and the surging female workforce is anticipated to be the key drivers for the global feminine hygiene products market growth.
The increasing use of alternative green products and reusable products is likely to stimulate growth for the market. As per the February 2021 article named ‘Making Menstrual Products Eco-friendly,’ published by Plastic Oceans International, a pad user uses approximately 45 billion menstrual products in a lifetime. Therefore, the development of sustainable sanitary products to reduce waste is projected to significantly boost the demand for such products.
The increasing efforts to educate women and girls on menstrual hygiene, and the several menstrual health and hygiene initiatives such as Menstrual Hygiene Day (28th May), are anticipated to boost the market’s growth in the upcoming years. However, the low product accessibility in underdeveloped areas is expected to hinder the market growth.
Regional Insights-
Asia Pacific to Hold the Largest Share due to Increasing Hygiene Awareness
Asia Pacific is anticipated to hold the largest portion of the global feminine hygiene products market share. The increasing female working population and the rising disposable income levels are anticipated to fuel the market growth. The development of cost-effective reusable products is expected to further propel market growth. Additionally, the surging urbanization and expanding hygiene awareness are likely to accumulate growth for the market. The region stood at USD 11.96 billion in 2020.
Europe and North America are matured markets and possess higher income levels of women, better sanitation practices, and higher living standards. According to a report published by Essity AB in 2020, more than 380 units of feminine hygiene products are used annually by females aged between 10 to 54.
Competitive Landscape-
Key Players Adopt Ingenious Growth Strategies to Garner Growth
The key players primarily focus on the development of safe and easy-to-use feminine hygiene products to minimize allergic reactions and infection risks. The key players adopt various organic growth strategies such as new product launches, technological advancements, patents, and others to enhance their product portfolios. They also adopt inorganic growth strategies such as partnerships, collaborations, acquisitions, and mergers to enhance their presence in the market. For instance, Hindustan Unilever Limited unveiled its plan to acquire the female intimate hygiene products brand called VWash from Glenmark Pharmaceuticals Ltd. in March 2020.
Browse In-depth Summary of This Research Insight@
https://www.fortunebusinessinsights.com/feminine-hygiene-products-market-103530
