The market is expected to reach a value of US$ 992.8 Million by 2024, growing at a CAGR of more than 12% during 2019-2024.
Feminine hygiene is one of the most developing categories in the FMCG industry of India. Driven by the increasing awareness on the importance of empowering women through the promotion of menstrual health, the global market for feminine hygiene products is projected to exceed the US $36 billion by 2024.
With over50% of the world female population being of reproductive age, the opportunity is huge. The Indian feminine hygiene market is not very well explored and dimly competitive, thus opening a whole world of business opportunities in this industry. The market is expected to reach a value of US$ 992.8 million by 2024, growing at a CAGR of more than 12% during 2019-2024. India comprises of less than 1.5% of this market that largely sells sanitary napkins, but also tampons, menstrual cups, 'period-proof' underwear, and things to be eaten or applied to lessen the effects of premenstrual syndrome, menstrual cramps, dysmenorrhoea, etc.
Growth Drivers of the Segment
Regarded as a taboo in earlier times, menstrual hygiene has come off as a gift for many businesses. The nascent Indian market for feminine hygiene products is already witnessing the entry of a number of products and services to protect and pamper women during this monthly phenomenon.
One of the major reasons behind this growth is the increasing concern and awareness about female hygiene & menstrual health, especially in the rural & small town areas where women are now taking control of their menstrual hygiene. They are now opting for sanitary products like pads, tampons etc rather than the ‘cloth’ that they have been using over the years without even knowing about the consequences it has on their health and hygiene.
Sanitary napkins/pads are most popular feminine hygiene products, which is expected to grow at a considerable pace due to its easy availability, coupled with initiatives taken by government and NGOs in different countries to educate females regarding hygiene.
Trends that are Reshaping the Market
The biggest roadblock for the sanitary products’ market was the awareness and acceptance of these products. After the significant leap in availing of safe and hygienic products for menstrual hygiene, there has now been an emerging trend of sustainable waste management of these products. Given the importance of considering environmental impact as a key factor in the current scenario, new biodegradable or reusable sanitary products are emerging in the market.
Reusable sanitary products such as menstrual cups can be used for a lifespan of 1-10 yrs, thus reducing the disposal impact. Women increasingly prefer these items over the regular sanitary napkins as it reduces the monthly expenditure on sanitary products.
Women are also increasingly demanding a more natural & chemical-free alternative to pads & tampons, as these may cause skin irritation and other health problems, in some cases. Thus, brands offering organic sanitary products are increasing in popularity.
Future of the Menstrual Market
With the increase in distribution channels such as hypermarkets, supermarkets& e-commerce sites, women now have the option of exploring all the products available in the market and purchase the ones that are suitable for them.
The growing popularity of e-commerce is increasingly making it easier for females to browse and purchase from a wide range of feminine hygiene products at the convenience of their homes.
Moreover, online retailing opens up new avenues for a large number of vendors to sell and market these products and thus expand their business in terms of product availability and accessibility. It is forecasted that with increased penetration of the internet, especially in tier II and tier III cities, will enable many businesses to widen the customer base for their products.