FACTORS DRIVING ENTREPRENEURIAL OPPORTUNITIES WITH FEMININE HYGIENE PRODUCTS
Feminine hygiene has emerged as the most promising categories in the FMCG industry across the world. As an industry, feminine hygiene products are primarily segmented into sanitary napkins, panty liners, tampons, and similar products, including internal cleansers & sprays and disposable razors & blades. Owing to the increasing awareness about feminine hygiene through promoting the importance of menstrual health, the global market for feminine hygiene products is projected to expand at a CAGR of 6.8%, to reach a value of USD 52 Bn by 2023, according to Research On Global Markets.
With almost 50% of the world’s female population currently of reproductive age, the opportunity for the global feminine hygiene products market is huge. The market for feminine hygiene products possesses a lot of scope for growth, and is devoid of competition. Thus, the market is opening up a number of significant business opportunities, and here are the reasons why investing in this industry is profitable.
The wave of women empowerment is gaining momentum across the world. Increasing concern and awareness about women hygiene and menstrual health is driving this industry. The scenario is conducive even in developing and under-developed countries as women in these regions are now increasingly becoming aware of their menstrual hygiene, and choosing sanitary products like pads, tampons etc. rather than dirty clothes.
Sanitary pads have become the most popular feminine hygiene product, and is expected to grow at a considerable rate due to its easy availability and initiatives undertaken by the government to increase awareness regarding hygiene amongst women in different countries.
Increasing Disposable Income
Changing consumer preference and growing per capita income is also driving the adoption of feminine hygiene products across the globe. With the increase in disposable income and reduced prices of feminine hygiene products, significant demand of these products is witnessed across the world, thus driving the growth of the industry.
Popularity of Organic & Natural Products
Like any other industry, the inclination toward eco-friendly products is visible in the female hygiene market as well. Major players operating in this industry are innovating with different feminine hygiene products to meet the increasing demand for organic and natural feminine hygiene products.
The demand for natural & chemical-free alternative to pads & tampons is visible as the latter can lead to skin irritation or health problems in some instances. Thus, industry players providing organic sanitary products are growing in popularity.
There has been a considerable increase in the number of distribution channels like hypermarket, supermarket & e-commerce sites, and women now have increased access to all the products available in the market and choose the ones that fit their requirement.
The growing popularity of e-commerce portals is adding to the convenience for women to browse and purchase from a wide range of feminine hygiene products. Moreover, online retail stores are offering new growth opportunities for the industry players to market and sell their products and expand their business considerably. Moreover, it is predicted that increasing internet penetration across the world, will facilitate expansion for all the players operating in the business.