Pune, India, Oct. 09, 2023 (GLOBE NEWSWIRE) --
According to our latest study on “Feminine Hygiene Products Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type and Distribution Channel, and Geography,” the feminine hygiene products market is expected to grow from $ 26.73 billion in 2022 to $36.30 billion by 2030; it is estimated to grow at a CAGR of 3.9% from 2022 to 2030. A surge in awareness toward maintaining personal hygiene is one of the major factors accelerating the growth of the feminine hygiene industry, especially in developing countries. Currently, the awareness regarding personal hygiene in women is increasing due to various government initiatives and social media campaigns. These initiatives and campaigns contribute to a better understanding and acceptance of female hygiene products.
Feminine Hygiene Products Market: Competitive Landscape
Edgewell Personal Care Co, Kimberly-Clark Corp, Lune Group Oy Ltd, Me Luna Gmbh, Mooncup Ltd, Ontex Bv, Essity Ab, Wuka Ltd, Cotton High Tech SL, and The Procter & Gamble Co. are among the players operating in the feminine hygiene products market. These players are focusing on new product launches and geographic expansions to meet the growing consumer demand worldwide. The widespread presence of these companies across the globe helps them serve a large range of customers, subsequently allowing them to increase their market share. These market players are highly focused on launching new products and expanding their product range in specialty portfolios, further surging the feminine hygiene products market growth. For instance, in January 2023, Kotex launched Kotex Prohealth+ sanitary pads that offer consumers enhanced sanitary protection.
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Initiatives by Governments and Organizations to Provide Lucrative Growth Opportunities to Feminine Hygiene Products Market Growth
The increasing prices of feminine hygiene products owing to higher taxes prevent consumers from buying them. Thus, they search for alternative options, which can hamper their health. However, with increasing awareness about feminine hygiene, governments of various countries are taking initiatives, such as reducing taxes on feminine hygiene products and distributing them free of cost. For instance, in Germany, the tax rate on sanitary items was reduced from 19% to 7% as of January 1, 2020. Similarly, Ireland levies no value-added tax on tampons, panty liners, and sanitary towels. Ireland is the only EU country with a zero-tax rate on sanitary goods. Thus, reducing taxes on feminine hygiene products accelerates their demand across the region. Additionally, the government of India has completely exempted sanitary pads from GST by charging a 0% tax rate on the sale of sanitary pads. Hence, these initiatives by the governments drive the global feminine hygiene products market growth.
According to the Leibniz Institute for Economic Research at the University of Munich 2022 report, the prices for menstrual hygiene products dropped after VAT reduction in European countries. The yellow line shows a clear drop between November 2019 and January 2020. This price decrease is almost certainly the result of the VAT reduction, generating massive demand for feminine hygiene products.
Feminine Hygiene Products Market: Segmental Overview
Based on product type, the feminine hygiene products market is categorized into menstrual care products, cleaning and deodorizing products, and feminine hygiene underwear. The menstrual care products segment held the largest share of the market in 2022. Menstrual care products include sanitary pads/napkins, tampons, menstrual cups, reusable cloth pads, liners, and menstrual discs. Sanitary pads and tampons are among the most widely used products by females during menstruation. They are made of materials such as cellulosic fibers; synthetic polymers such as polyester, polyethylene, and polypropylene; cotton; and superabsorbent polymers. Products made from superabsorbent polymers absorb low to heavy period flow and allow women to perform their daily chores and other physically rigorous activities, such as playing and traveling, without the stress of leakage and stains.
Based on distribution channel, the feminine hygiene products market is categorized into supermarkets and hypermarkets, drug stores and pharmacies, health and beauty stores, online retail, and others. The supermarkets and hypermarkets segment held the largest share of the market in 2022. Supermarkets and hypermarkets are large retail establishments that sell a wide range of products, including groceries, personal care, and household products. Consumers prefer buying products such as sanitary pads, tampons, intimate hygiene washes and sprays, and hair removal products from supermarkets and hypermarkets due to the availability of various brands under one roof. Smart arrangement and display of products in supermarkets and hypermarkets allow shoppers to find the right product quickly. Moreover, these stores offer multiple payment options, attractive discounts, and a pleasant shopping experience.
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Impact of COVID-19 Pandemic on Feminine Hygiene Products Market
The rising female literacy rate and increasing awareness regarding menstrual hygiene boosted the demand for feminine hygiene products before the onset of the COVID-19 pandemic. In addition, rising research and development activities to improve product quality and meet consumer demand further contributed to the feminine hygiene products market growth. However, the consumer goods industry experienced adverse impacts of the pandemic during the first quarter of 2020. Many industries had to slow down their operations due to value chain disruptions caused by the shutdown of national and international boundaries. The pandemic led to social distancing norms and a severe economic impact, hindering feminine hygiene products’ manufacturing and distribution processes. The COVID-19 pandemic also led to an economic recession in the initial months of 2020, which created financial difficulties for low-income and mid-income consumers. As a result, people only purchased primary essential products—such as groceries and critical medical products—decreasing the sales of feminine hygiene products. Hence, all these factors hampered the global feminine hygiene products market growth during the pandemic.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Menstrual Cups Market to 2027 - Global Analysis and Forecasts
Women Intimate Care Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Tampons Market Forecast to 2028 - COVID-19 Impact and Global Analysis
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