In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
A tampon is a menstrual product primarily made up of highly absorbent materials such as cotton or rayon and is used for the absorption of menstrual blood. Organic cotton tampons are highly preferred since they are free of any chemicals that might harm or irritate the body. Sanitary tampons are available in various sizes and shapes. Tampons are usually available in the form of a radially wound pledget that can easily be inserted into the vagina with or without the help of an applicator.
Tampons require an FDA approval before their sale in the market. The FDA checks the safety of the materials used for both the tampon and its applicator along with the strength, absorbency and integrity of the tampon. Moreover, it evaluates whether the tampon would promote any bacterial growth or not. On the basis of these factors, the tampons are reviewed before they are marketed in any region across the world.
The changing lifestyle among women, especially in developed and developing nations, has raised the demand for an effective menstrual hygiene product that prevents leakage and provides comfort for a longer duration. The tampons market is anticipated to record a CAGR of around 6% over the forecast period i.e. 2019-2027. The market is segmented by product, by material, by size, by distribution channel and by region, out of which, the product segment is further bifurcated into applicator tampons and digital tampons. On the basis of product, the applicator tampons segment is anticipated to hold the largest share in the tampons market on account of growing demand for applicators that are used for smooth insertion of tampons. The applicators available for tampons are made up of either plastic or cardboard materials and are safe and easy to use. Women are increasingly inclining towards the use of tampons as a result of growing demand for better feminine hygiene products that are more effective and comfortable to use. Thus, a large section of women, especially those belonging to the working population, is estimated to grow the consumer base for tampons. Additionally, various environmental concerns are anticipated to result in an increased demand for organic and biodegradable tampons in the market.
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In order to increase awareness about menstrual hygiene management among people belonging to developing and underdeveloped nations, proper education is required at educational institutions. In Zambia, 45.8% of schools were reported to offer education on menstrual hygiene management in 2016. This data was recorded by the Ministry of Education in Zambia. The lack of proper menstrual hygiene management education is being overcome with the help of various initiatives by government and non-profit organizations. This is a major factor estimated to increase the market growth in the upcoming years.
In order to make menstrual hygiene products accessible for a majority of women, measures have been taken by governments and manufacturers in various nations to reduce their costs, including the prices of tampons. For instance, in Finland, the price of sanitary towels and tampons reduced by 20% from 10 euros in 2012 to 8 euros in 2016, according to data presented by Statistics Finland. Such initiatives allow women to adopt the usage of feminine hygiene products during their menstrual cycles and thus promote healthy menstrual hygiene.
Toxic shock syndrome (TSS) is a major health risk associated with the use of tampons. Although rare, it is caused by bacterial infections and can severely affect various organs of the body. The use of superabsorbent tampons might result in this disorder as well as other health related conditions. This is estimated to limit the growth of tampons market during the forecast period.
Moreover, cultural restraints among women about tampons is another factor anticipated to restrict the market growth.
Our in-depth analysis of the tampons market includes the following segments:
On the basis of regional analysis, the tampons market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Tampons market in North America is anticipated to hold the largest share in the market during the forecast period which can be attributed to the increasing adoption of tampons in the region. Growing preference of tampons over sanitary pads by women is a prominent factor contributing towards the changing trends in the market. Presence of major key players in North America region and development of new and advanced sanitary products are additional factors estimated to result in the growth of sanitary pads market in the region. The market in Europe is anticipated to grow significantly on account of high revenue generation by the industry and growing production and consumption of tampons in the region during the forecast period. The growing awareness among a majority of female population about menstrual hygiene in the Asia Pacific region is estimated to result in a significant market growth during the forecast period. Additional factors backing the tampons market growth include rise in number of women employment and increasing disposable income in the region.
The tampons market is further classified on the basis of region as follows: