The rising awareness about women health and hygiene is anticipated to open up the new avenue for Feminine Hygiene Products Market.
The Feminine Hygiene Products Market is estimated to be valued at US$ 36.20 Bn or billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Feminine hygiene products include sanitary pads, tampons, panty liners, menstrual cups, and feminine sprays. These products are designed to absorb menstrual blood during menstruation. Sanitary pads are the most commonly used feminine hygiene product. They are worn externally and are available in different sizes, shapes, and absorptions levels. Tampons are inserted internally and are compacted by body pressure. They come in different absorptive levels ranging from light to super absorbency.
Market Dynamics:
The increasing awareness about feminine hygiene products through government initiatives and advertisement is driving the market growth. Many governments across the world are taking initiatives to spread awareness about feminine hygiene. They are distributing sanitary pads at subsidized rates through schools and retailers. Moreover, manufacturers are also spending high on advertisement and promotion of their brands to educate women on usage and benefits of different feminine hygiene products available in the market.
Second major factor fueling the market growth is rapid urbanization. More women are joining workforce in urban areas due to expanding job opportunities. This has increased the demand for convenience feminine hygiene products like sanitary pads and panty liners that can be easily carried and disposed.
Segment Analysis
The feminine hygiene products market is dominated by the sanitary pads segment. Sanitary pads account for over 40% of the total market share as they are the most widely used feminine hygiene product during menstruation. Their ease of use and high absorption capacity have made sanitary pads the preferred choice among women over other feminine hygiene alternatives like tampons.
PEST Analysis
Political: The governments of various countries are promoting menstrual hygiene by implementing various subsidy schemes that make sanitary pads at affordable prices. This is positively impacting the market growth.
Economic: Rising women employment and growing disposable incomes in developing nations are key factors driving more women to spend on branded feminine hygiene products.
Social: Reducing social stigma around menstruation and growing awareness about maintaining hygiene are encouraging wider acceptance and use of sanitary protection products.
Technological: Manufacturers are investing in R&D to develop new product varieties with improved absorption capacity, skin-friendliness and convenience of use, in order to better meet consumer requirements.
Key Takeaways
The Global Feminine Hygiene Products Market Growth is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing women population and growing awareness regarding intimate hygiene. The market size for 2023 is projected to reach US$ 36.20 Bn.
Asia Pacific dominates the global feminine hygiene products market with over 35% value share. The high population of women combined with improving access to sanitary products is fueling the APAC market. Growing disposable incomes are also supporting women to spend more on branded hygiene products in the region.
Key players operating in the feminine hygiene products market are Procter & Gamble Company, Kimberly-Clark Corporation, Unicharm Corporation, Johnson & Johnson Services, Inc. and Essity AB. These companies collectively account for over 50% of the total market share owing to their diversified product portfolio and widespread global distribution channels.