Feminine Hygiene Product Market Revenue Will Reach $47.3 Billion By 2024, Says Esticast Research and Consulting
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As per the report “Feminine Hygiene Products Market By Product types (Sanitary pads, Tampons, Internal cleaners & sprays, Panty liners & shields, Disposable razors & blades), By Distribution channel (Supermarkets & hypermarkets, Specialty stores, Convenience stores, Dollar stores, Online & others), Industry trends, Estimation & forecast, 2016 – 2024.” The global feminine hygiene product market was valued at $28.7 billion in 2016, and is projected to reach $47.3 billion by 2024, growing at a CAGR of 6.3% from 2017 to 2024.
In 2016, sanitary pads segment generated the highest revenue share in the global feminine hygiene product market. Among major regions, Asia-Pacific feminine hygiene product market was the highest revenue generating market valued at $14.1 billion in 2016.
“The average woman has an estimated 500 menstrual cycles in her lifetime, so feminine hygiene product makers have an ever-replenishing customer base. Demands for these products are changing, as women seek not only more environmentally friendly options but also ones that can accommodate an active lifestyle. Also encouraging the trend: The earlier onset of puberty, technology and fabric advancements and more advertisements targeting teenagers and younger women, as older brand-loyal women enter menopause.”
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Conventional sanitary pads contain a combination of synthetic, carcinogenic materials such as dioxin rayon, allergy-provoking metal dyes, and highly processed wood pulp. Use of such extremely permeable contaminants in or near the vaginal area can lead to irritation, itching, discomfort, toxic shock syndrome and other complications. In order to avoid such negative impacts on the human health and environment due to the disposal of such sanitary waste, women are demanding biodegradable, compostable, and eco-friendly sanitary products.
Tampons and panty liners to witness high adoption levels in developing countries
The demand for high-end products such as internal cleansers and tampons is relatively lower in developing countries as compared to the developed countries, due to premium pricing of such products and lack of awareness. However, the adoption has increased at a notable pace since past few years, due to rising disposable income, modernization in retail format, increasing consumer awareness, and increasing availability of such higher-end feminine hygiene products. Most companies are increasingly focusing on product innovation and are keen on manufacturing and introducing tampons that are comfortable and have a higher absorption potential, for instance, the invention of digital tampons, a tampon without an applicator, is favored by women with a retroverted uterus as the process of correct insertion is comparatively easier than using one with an inflexible applicator. Furthermore, RepHresh, a brand of Church & Dwight, has introduced organic products including pH-balanced tampons, which will boost this market’s growth. Therefore, increase in demand for tampons and panty liners in developing countries is a lucrative opportunity for global players to gain foothold in this market.
Asia-Pacific transpired as the largest market for feminine hygiene product, owing to higher penetration of sanitary pads in the region
Asia-Pacific led the global feminine hygiene product market by holding nearly half of the share in 2016. In Asia, even though menstrual hygiene is still a social taboo, personal hygiene awareness campaigns taken up by government agencies and CSR activities conducted by the companies have contributed in the upsurge demand for sanitary products in this region. Furthermore, increasing working women population in the region is another factor fueling the growth of this market.
However, Latin America, Middle East, and Africa are forecasted to grow at the highest CAGR of 7.7%.
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FEMININE HYGIENE PRODUCT MARKET KEY FINDINGS
• Sanitary pads segment led the overall market by holding 2/3 share of the total market, in 2016.
• Modernization in retail format propelled the demand for tampons in the developing countries.
• The online retail segment is growing at a rapid pace due to the privacy offered and the ability to have a discussion about products, their benefits, and preferences through online chat and forum.
• The Asia-Pacific region led the global feminine hygiene product market by holding nearly half of the total share.
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Some prominent market players in this market are Procter & Gamble Co., Edgewell Personal Care Company., Unicharm Corporation, Kimberly-Clark Corporation, Lil-Lets Group Ltd, PayChest Inc., Svenska Cellulosa Aktiebolaget., Kao Group, First Quality Enterprises, Inc., and Hengan International Group Co. Limited.