Surge in demand to push up Period Care Market to reach $51.9 Bn by 2022 to 2031 ; growing at a CAGR of 4.2%

According to a new report published by Allied Market Research, titled, "Period Care Market," The period care market size was valued at $34.7 billion in 2021, and is estimated to reach $51.9 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

Period care products are the type of personal care products, used during . Moreover, an increase in the disposable income of consumers in developed countries leads to rising demand for premium products. This results in greater adoption of sanitary protection products among women. Moreover, women majorly try to purchase biodegradable, compostable, and eco-friendly sanitary products, to avoid negative impacts on the environment due to the disposal of sanitary waste. This offers a lucrative opportunity for manufacturers to invest in the production of such innovative products and strengthen their market position.

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The outbreak of coronavirus has had minimal impact on the period care industry along with all stages of the supply chain and value chain. Presently, the supply chain is far more complex as compared to what it was a decade ago. The COVID-19 pandemic has not only hampered production facilities but also disrupted supply chains such as material suppliers and distributors of the period care products market globally.

Furthermore, an increase in the level of consumer education and growth in awareness about alternative hygiene products such as tampons and have led to an increase in period care market demand for these products in developing countries. Moreover, various types of retail formats such as departmental stores, supermarkets, and specialty stores have propelled the demand for tampons in developing countries. Therefore, an increase in demand for tampons and in developing countries provides lucrative opportunities for global players to gain a foothold in this market.

An increase in online store sales, ease in payment options, and the facility to enter new international markets for major brands are anticipated to fuel demand for the period care market during the period care market forecast period. According to Organisation for Economic Co-operation and Development (OECD), there was an increase of 30% in the EU-27 retail sales via mail order houses or the Internet in April 2020 compared to April 2019.

The period care market is expected to experience growth in the period care market size during the forecast period owing to an increase in the level of consumer education and growth in awareness about alternative hygiene products such as tampons and have led to an increase in demand for these products in developing countries. Moreover, various types of retail formats such as departmental stores, supermarkets, and specialty stores have propelled the demand for tampons in developing countries. Therefore, an increase in demand for tampons and in developing countries provides lucrative opportunities for global players to gain a foothold in this market.

The rising demand for organic and biodegradable period care products is expected to be one of the period care market trends driving the period care market growth since the best solution is to use sanitary products made from organic materials such as organic cotton to reduce the risk of being subjected to harmful chemicals, dyes, and other irritants found in mainstream period care products such as sanitary napkins or tampons. There is an increase in the demand for such products in developed regions such as Europe and North America.

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Therefore, this stands as a lucrative period care market opportunity for manufacturers to invest in the production of such innovative products and strengthen their market position. As the disposal of menstrual waste causes negative impacts on the environment, women are making the responsible choice of opting for biodegradable sanitary napkins. For instance, Little Angels, the Australian producer of period care products, produces biodegradable, compostable, and eco-friendly sanitary napkins. Moreover, the demand for these napkins is on the rise, which is a promising opportunity for manufacturers to gain a strong foothold in the market.

Some of the major players taken into consideration for the period care market analysis in this report include Edgewell Personal Care Company, Essity Aktiebolag, First Quality Enterprises Incorporation, Hengan International Group Co. Limited, Johnson & Johnson, Kao Corporation, Kimberly-Clark Corporation, Ontex BV, Procter & Gamble Company, and Unicharm Corporation.

Key findings of the study

By nature, the disposable segment accounted for the highest market share in 2021, growing at a CAGR of 3.9% from 2022 to 2031.
By product type, the sanitary pads segment accounted for the highest period care products market share in 2021, growing at a CAGR of 3.6% from 2022 to 2031.
By distribution channel, the retail pharmacy segment accounted for the highest market share in 2021, growing at a CAGR of 3.6% from 2022 to 2031.
By age group, the 19-30 years segment accounted for the highest period care market share in 2021, growing at a CAGR of 4.8% from 2022 to 2031.
By region, Asia-Pacific occupied the maximum share in the market in 2021 and is expected to be the dominating segment during the period care products market forecast period.

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