Period Care Market to Reach $51.9 Billion, Globally, by 2031 at 4.2% CAGR
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Prime determinants of growth
Rise in consumer awareness, an increase in disposable income, increase in demand for tampons and in developing countries, and a surge in the need for period care products drive the growth of the global period care market. However, health concerns due to ingredients used in conventional sanitary napkins restrict the market growth. Moreover, online sales channel has increased consumer reach, making them the key source of revenue for many companies, thereby presenting new opportunities in the coming years.
The outbreak of the Covid-19 pandemic had a negative impact on the global period care market, owing to temporary closure of various types of retail formats such as departmental stores, supermarkets, and specialty stores during the lockdown.
However, sales through e-commerce websites generated some revenue and helped the period care industry to recover from the loss.
Currently, there is an increase in awareness among women about personal hygiene due to various government initiatives and the number of campaigns on social media. These initiatives and campaigns contribute to the market growth in the post-pandemic.
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The disposable segment to maintain its leadership status throughout the forecast period
Based on nature, the disposable segment held the highest market share in 2021, accounting for nearly four-fifths of the global period care market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to easy availability of disposable period care products and rising consumer awareness regarding the benefits of period care products. However, the reusable segment is projected to manifest the highest CAGR of 5.0% from 2022 to 2031, as reusable period care products help conserve resources, reduce wastage, and mitigate the pollution. Rising concern about the environment will also drive the growth of reusable period care products.
The sanitary pads segment to maintain its leadership status throughout the forecast period
Based on type, the sanitary pads segment held the highest market share in 2021, accounting for more than half of the global period care market, and is estimated to maintain its leadership status throughout the forecast period. Rise in awareness about personal hygiene is a major factor propelling the growth of sanitary pads across the globe. Rise in the availability of sanitary pads at subsidized rates increases penetration of sanitary pads in rural areas is also a reason for its dominance. However, the period underwear segment is projected to manifest the highest CAGR of 5.6% from 2022 to 2031, attributed to the ease of usage and convenience.
The 19-30 Years segment to maintain its lead position during the forecast period
Based on age group, the 19-30 Years segment accounted for the largest share in 2021, contributing to more than one-third of the global period care market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 4.8% from 2022 to 2031, due to awareness regarding periods and period care products among this age group. The report also analyses up to 18 Years, 31-40 Years, and 40 Years and above.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global period care market, and is likely to dominate the market during the forecast period. Moreover, the same region is expected to witness the fastest CAGR of 6.8% from 2022 to 2031. owing to a rise in the women population of the region. An increase in the number of working professionals in the region who are ready to spend on these items that contribute to menstrual hygiene will propel the market growth even more.
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Leading Market Players: -
Edgewell Personal Care,
First Quality Enterprises,Inc,
Hengan International Group Company Ltd.,
Johnson & Johnson,
Proctor & Gamble Co.,
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Feminine Hygiene Products Market
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