Period Panties Market to Hit $180 Million by 2030
Future Market Insights (FMI) in its latest study has forecast the global period panties market to grow at 15.8% CAGR between 2020 and 2030. By the end of 2021, the market’s valuation is expected to reach US$ 180 Mn. The rise in awareness about feminine hygiene coupled with the increase in demand for eco-friendly period panties is projected to present lucrative opportunities for expansion of the market.
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An increasing number of women getting conscious about the prevalence of the diseases associated with unhygienic menstrual management practices and they are opting safer ways to maintain the proper menstrual hygiene. According to the National Center for Biotechnology Information (NCBI), women who use reusable absorbent pads are more likely to be diagnosed with at least one urogenital infection than women using disposable pads. Disposable period panties being meant for maintenance of proper hygiene and providing comfort are experiencing surge in demand.
The COVID-19 pandemic has affected the sales of the market severely, especially earlier this year. However, the market seems to be recovering steadily owing to the rise in requirement for the safer and more hygienic ways of menstrual management practices. FMI in the study reports growth at decelerated pace in 2020. However, 2021 onwards the market is expected to regain momentum.
FMI offers an in-depth analysis of the market trends, potential, growth, and restraints.
Some of the key takeaways from the report are highlighted below-
- Brief-styled period panties are increasingly preferred style
- Disposable period panties will emerge as highly sought after product in the coming years
- Sales of medium-sized period panties will remain considerably high
- Maximum sales of period panties are expected to happen via offline sales channels, however, growth exhibited by online channels is expected to happen at a higher rate
- North America is expected to remain the dominant market for period panties yet East Asia and South Asia are expected to report growth at higher rate
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COVID-19 Impact Analysis
The global period panties market has suffered major set-back due to the outbreak of novel coronavirus, during the first half of this year. The sudden lock down followed by the decrease in demand due to the shifted focus towards emergency requirements has slowed down the growth of the market.
While the market is overcoming the restraints such as financial crisis, unavailability of enough raw materials, and others, the demand for period panties is rising again to let the market expand further. According to FMI, the market is likely to get back to its feet by the end of the next year paving new paths to excel for the key market players.
Who is Winning?
The global period panties market has a highly competitive environment. In order to sail through the cut-throat competition, the key market players are focusing on launching of better quality products.
For instance,
- Knixwear launched its new range of absorbent, machine-washable, and comfortable leakproof period panties such as Leakproof Boyshort, Leakprooof High Rise, Leakproof Bikini, and others in 2020
- Modibodi launched its new extensive range of period panties such as Seamfree Full Brief Heavy-Overnight Absorbency, High-Waist Bikini Heavy-Overnight Absorbency, and others in 2020. They are focusing on brining quality products for all body types of women to target wider range of consumers
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