Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSOn April 17, 2020, P&G announced that it registered a 5% increase in sales as the global COVID-19 pandemic boosted consumer demand for products in healthcare, fabricare and homecare categories.
A personal hygiene product can be defined as any product that is intended to be used by people for self-cleaning and maintaining hygiene. The products such as sanitary pads, hand sanitizers, soaps, wet wipes, hair removal products and others belong to the category of personal hygiene products. They are an important part of every individual’s life nowadays since personal hygiene is being promoted even in the underdeveloped nations. The rising awareness among people about these products and their benefits is anticipated to substantially drive the market growth in the coming years.
The increase in consumerism on account of higher disposable incomes and the importance of self-cleanliness during the COVID-19 global pandemic are some of the factors that are estimated to result in the market growth by a significant CAGR over the forecast period of 2020-2028. The focus of governments and UN agencies to promote awareness about sanitation, menstrual hygiene are further predicted to contribute to the market growth.
The personal hygiene products market is segmented by product, by application, by end user, by distribution channel and by region. Based on the distribution channel, the market is further bifurcated into online and offline channels. Among these segments, the offline segment accounted for the largest revenue generating segment in 2019 owing to the availability of various buying options pertaining to retail stores and brands as per consumer preferences.
Organization of Economic Co-operation and Development (OECD) reports that the household disposable incomes across the world are increasing on account of rising consumerism and is expected to positively impact the personal hygiene products market.CLICK TO DOWNLOAD SAMPLE REPORT
World Health Organization (WHO) reports that in 2017, over 432,000 deaths were believed to be caused by poor sanitation in low and middle income countries. Further, it states that improved sanitation can reduce the spread of tropical diseases like trachoma, diarrhoea which cause deaths every year. Improved sanitation also promote dignity and safety among women and girls and can help in improving school attendance. Menstrual hygiene is a topic which is surrounded by myths, stigma and is considered a taboo, however, it is important to understand and promote women welfare and empowerment. Programs such as Swachh Bharat Mission and distribution of disposable sanitary pads for women and girls were reported to improve the attendance rate in schools across India. The increasing awareness towards sanitation and menstrual hygiene is expected to drive the personal hygiene products market in the next few years.
WHO as of May 10th 2020, reported 39, 17,366 confirmed cases and over 2, 74, 361 deaths globally due to the ongoing global pandemic. The role of hand sanitizers and other cleansing products in the battle against COVID-19 is proved vital by health care professionals across the world. As a result, the stockpiling of these products have skyrocketed the demand. Industry experts predict that products such as hand sanitizers, soaps and other cleansing products will have a significant demand globally over the next few months.
The product innovations and personalized packaging is an important factor for achieving a higher market growth. The packaging options such as recyclable sachets and tubes and a lower price are estimated to positively impact the personal hygiene products market.
The COVID’19 pandemic caused a disruption in the production and supply chain and thereby affected the sales of the personal hygiene products. Once the lockdown measures are lifted, the distribution channels will be re-established, however, lack of innovation in delivery systems, if not enhanced, is predicted to affect the sales of the personal hygiene products.
Our in-depth analysis of the personal hygiene products market includes the following segments:
On the basis of regional analysis, the personal hygiene products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which are responsible for manufacturing and marketing the personal hygiene products. Higher disposable incomes, brand awareness and effective distribution channels are further predicted to result in the largest market share. The market in Asia Pacific region is estimated to grow at the highest rate during the forecast period as a result of rising female population in countries like India and China, as well as increasing awareness towards sanitation and increase in government spending on sanitation.
The personal hygiene products market is further classified on the basis of region as follows:
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