The feminine hygiene products market that was experiencing a slowing growth owing to taboo and high-cost besides being a $20 billion business, is now part of the female empowerment campaign that is fueling the market growth.
Feminine hygiene, regardless of being a $20 billion business, has hardly experienced any major innovation since the past few decades. Moreover, the conventional attitude towards female care products is a major reason for such a sloppy approach.
On the other hand, the past few years have been evident of immense change in attitude or taboo towards feminine hygiene products. The key reason behind such a change is rising disposable income, coupled with increased awareness regarding female hygiene. Moreover, the region has the presence of various manufacturers operating in the market, which are expected to provide better products in the market.
There has also been a period when the taboo around menstrual periods as well as the high cost of the products had stunted the growth of the feminine care products market. For instance, a survey of almost 200 poor women living in the St. Louis area revealed that nearly two out of three could not afford feminine hygiene products at least once in 2018. The unaffordability of these primary feminine hygiene products has led to an alarming concern regarding the exclusion of taxes on these products.
However, now the scenario has completely been changed with several countries offering tax-free female hygiene products due to which significantly augmented. For instance, in November 2018, Nevada, US, freed its customers from 6.85% sales taxes on menstrual products, such as menstrual cups, sanitary napkins, and tampons.
This has led to a substantial rise in the sales of these products as it has become much more affordable to a broader base of customers. Similarly, Malaysia, in August 2018, lifted the 6% taxes applied on menstrual hygiene products such as tampons, sanitary pads, and panty liners. Hence, the availability of hygiene products at a cost-effective rate is expected to upsurge the sale of the products followed by fueling the market growth over the spell of almost 5 years.
Moreover, a number of startup companies, especially those led by women, have taken over the mission of spreading the female empowerment message by the means of improved female hygiene. That was mainly by introducing certain products like reusable period underwear, organic menstrual pads as well as menstrual cups. Nowadays, a huge number of women are looking for products that would not only fit within their modern lifestyle but are even eco-friendly.
The future of the feminine products industry is bright, with immense scope for innovation and advancements. In addition, a report by The Insight Partners states that the feminine hygiene products market is anticipated to reach US$ 36,371.54 Mn in 2027 from US$ 21,088.56 Mn in 2018. The market is expected to grow with a CAGR of 6.3% from 2019-2027.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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