The global feminine hygiene products market size is expected to gain momentum by reaching USD 51.13 billion by 2027 while exhibiting a CAGR of 4.6% between 2020 and 2027. This is attributable to the growing awareness regarding menstruation amongst women and the increasing prevalence of lower reproductive tract infections across the globe. This information is published by Fortune Business Insights, in its latest report, titled, “Feminine Hygiene Products Market Size, Share & COVID-19 Impact Analysis, By Product Type (Menstrual Care Products and Cleaning and Deodorizing Products), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Drugs Stores, and Others), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 39.73 billion in 2019 and is projected to showcase exponential growth in the forthcoming years.
COVID-19 Effect: Sky-rocketing Prices of Product to Hamper Growth Prospects
The increasing demand for essential FMCG products amid the novel coronavirus has resulted in the high prices of commodities in hypermarkets/supermarkets. The hoarding of goods by people in the wake of the indefinite lockdown announced by the government agencies globally has caused disruptions in the supply and demand of the products. This is expected to hamper the growth of the market to some extent. However, the increasing focus on replenishing the stores with consumer goods, and the collective efforts by the government and companies to improve the economy will contribute to the market growth in the near future.
What does the Report Include?
The market report includes a detailed assessment of various growth drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting its growth during the forecast period. It includes information sourced from the advice of expert professionals from the industry by our research analysts using several methodologies. The competitive landscape offers further detailed insights into strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2020 and 2027.
Increasing Awareness Regarding Menstruation to Surge Demand
Feminine hygiene products are beneficial in controlling blood leakage amongst women during a menstrual cycle. The increasing awareness regarding personal hygiene owing to the high awareness among teenage girls is expected to drive the market growth. Additionally, the rising female workforce, along with the high disposable income is propelling the demand for premium quality products that is anticipated to boost the growth of the global market during the forecast period. The increasing prevalence of lower reproductive tract infection among women would further boost the demand for safe and hygiene products that will favor market growth.
Information Source: https://www.fortunebusinessinsights.com/feminine-hygiene-products-market-103530