CAGR: 12.4%Current Market Size: USD 110.50 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The global Period Panties market is expected to grow from USD 110.50 million in 2021 to USD 276.55 million by 2029, at a CAGR of 12.4% during the Projection period 2022-2029. Increased awareness campaigns & initiatives and the need for hygiene and premium comfort have primarily driven the growth of the market.
Period Panties are designed to feel and look like regular underwear; however, it has extra layers and highly absorbent fabrics. Typically, the fabric in such panties comprises a moisture-wicking fabric that is made up of several small filaments. This moisture-wicking fabric traps liquid to keep it from leaking into the clothes. However, usually, the nylon and Lycra materials are used for the outer layer while it is finished with a liquid-repellent film to ensure enhanced protection. Some women across the globe use period underwear along with other products such as menstrual cups or tampons to add an extra layer of protection.
In addition, unlike disposable period products, women can wear period panties more than once. This further enhances cost-effectiveness of these products. Also, the online availability of period underwear is expected to be a significant market driver due to the convenience of shopping period underwear from the comfort of home.
Request Sample:- Global Period Panties Market
Market Dynamics:
Drivers:
Literacy has become a basic right and a facilitator for overcoming poverty and extending society's perspective. Several studies and research debates have presented the relationship between literacy and health. Menstruation is one of the under-acknowledged challenges in several countries around the globe; however, people are becoming more aware, literate, and adaptive to period care products to maintain a healthy lifestyle.
Moreover, government initiatives are further contributing to awareness about period care products. For instance, the government of Australia has initiated several schemes to educate and aware indigenous Australians about periods and period care products. Due to this, the menstruators of the country are intensively adapting new period care products in the market, which is expected to support the overall growth of the period panties market in the coming years.
The global literacy rate is steadily growing which has led to an increasing association of indigenous women in the workplace. In addition, women's population is massively increasing in the workforce, demanding several needs that fulfill their on-job requirements, such as healthcare products, feminine hygiene, and others. Thus, working women are demanding several products that help to maintain adequate hygiene and a healthy work environment.
This has enabled the manufacturers to intensively focus on delivering and launching innovative period panties for working women that will help to maintain feminine hygiene in the workplace. Hence, increased a number of working women has driven the growth of the market.
Restraints:
Worldwide population has become aware and educated about the drawbacks and negative impacts of using period care products. For instance, the use of these permeable contaminants in or near the vaginal area can lead to irritation, itching, discomfort, and other complications. This has led to the hesitation among women to use period panties to avoid the risk of bacterial infection over the vaginal area. This factor is expected to hamper the growth of the market to some extent during the Projection period.
Opportunities:
There is an increase in emphasis on reusable period care products, driven by the factors such as sustainability, a rise in awareness toward intimate care, and cost-effectiveness of reusable products. This saves a lot of cost for the consumers. In addition, the wastes generated from traditional menstrual care products create a huge volume of plastic waste and have become a severe threat to society. Hence, the rise in government initiatives such as The Sustainable Period Project and the removal of tampon tax foster the growth in demand for reusable period panties products. The period panties can last from 6 months to 2 years.
Challenges
In developing countries, there is low market penetration for period panties. This is mainly due to less awareness, which makes people often unsure of trying it. Also, there is limited spending in the healthcare sector in developing countries. For instance, in India, the budgetary allocation to the healthcare sector is low at 1.3% of GDP. This factor poses challenges to the growth of the market.
Segmentation Analysis:
The global period panties market has been segmented based on type, style, size, distribution channel, and region.
By Product
The type segment includes reusable and disposable. The reusable segment led the Period Panties market with a market share of around 67.8% in 2021. Usage of reusable menstrual products has become a cost-effective, safe, and eco-friendly way of managing menstrual cycles. The budget-friendliness of such products is the major factor contributing to segment growth. For instance, some reusable period panties are designed for long-term use ranging from 6 months to 2 years, depending on the brand. This provides significant cost savings over pads and tampons. Furthermore, the emergence of advanced reusable panties is opportunistic for the growth of this segment.
By Distribution Channel
The distribution channel segment includes supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets/ hypermarkets segment led the Period Panties market with a market share of around 40.2% in 2021. The ability of supermarkets and hypermarkets to have a wide-ranging option for period panties products in terms of type and ingredients has mainly driven the growth of this segment. In addition, most consumer prefers supermarkets as they can examine the product before making a purchase decision. Moreover, supermarkets display a variety of Period Panties products of different brands. In regions such as North America and Europe, supermarkets and hypermarkets are the most preferred retail outlets for the purchase of consumer goods. Such factors have contributed to the growth of this segment.
By Regional Analysis:
The regions analyzed for the period panties market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. North America region dominated the Period Panties market and held the 42.08% share of the market revenue in 2021.
Global Period Panties Market- Country Analysis:
Germany Period Panties market size was valued at USD 11.05 million in 2021 and is expected to reach USD 27.26 million by 2029, at a CAGR of 12.2% from 2022 to 2029.
Germany is one of the leading nations in the Europe Period Panties market. This is mainly attributed to changing lifestyles, increasing disposable incomes of the population, and the rising trends of e-commerce across the country.
Moreover, in November 2019, the German Parliament announced to decrease the tax from 19% to 7% on sanitary products from January 2020. Such government initiatives are projected to boost the usage of period panties in the country. On the other hand, according to the World Bank collection of development indicators, females in Germany accounted for 47.13 % in 2021 of the total labor force in the country. The huge number of working women in the country are creating a demand for period panties.
China Period Panties' market size was valued at USD 21.00 million in 2021 and is expected to reach USD 51.06 million by 2029, at a CAGR of 12.0% from 2022 to 2029. China is one of the largest consuming and exporting countries of menstrual products. The rise in demand for period panties from the huge middle-class population in the country has mainly driven the growth of the period panties market.
In addition, this menstrual hygiene sector has a huge investment, innovation acceleration, and business expansion. For instance, according to various studies, in 2020, life science funds in China are estimated to raise about USD 42 billion, representing a fourfold increase in the past five years. Moreover, the factors such as rapid urbanization, menstrual hygiene awareness, and the ongoing trend of e-commerce sales in the menstrual products sector have further boosted the growth of the market.
India Period Panties market size was valued at USD 5.53 million in 2021 and is expected to reach USD 14.33 million by 2029, at a CAGR of 12.9% from 2022 to 2029. India is one of the strongest growing economies in Asia. Increasing awareness about female health and hygiene along with the demand for cost-effective feminine hygiene products drives the growth of the market in this country. In addition, government initiatives supporting the use of menstrual hygiene products and rising demand for period panties from the increasing working women professional population in the country have further driven the growth of the market.
Moreover, the country is seeing rapid growth in the influence of social media and changing lifestyles. This has encouraged modern women to use period panties. On the other hand, the rising demand for reusable eco-friendly menstrual hygiene products to reduce the environmental impact of menstrual products has further created growth opportunities for the market.
Key Industry Players Analysis:
To increase their market position in the global Period Panties business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, and partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
12.4% |
Market Size |
110.50 million in 2021 |
Projection period |
2021-2029 |
Projection unit |
Value (USD) |
Segments covered |
Type, style, size, distribution channel , and Regions |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Anigan, Clovia, Dear Kate, Knixwear, Lunapads International, Modibodi, PantyProp, Fannypants, THINX Inc., and Period Panteez among others |
By Type
|
|
By Style
|
|
By Size |
|
By Distribution Channel
|
|
Regional scope |
|
Scope of the Report
Global Period Panties Market by Type:
Global Period Panties Market by Style:
Global Period Panties Market by Size:
Global Period Panties Market by Distribution Channel:
Global Period Panties Market by Region:
Global Period Panties market size is USD 110.50 million in 2021 expected to reach USD 276.55 million by 2029, at a CAGR of 12.4% from 2022 to 2029.
Literacy has become a basic right and a facilitator for overcoming poverty and extending society's perspective. Several studies and research debates have presented the relationship between literacy and health. Menstruation is one of the under-acknowledged challenges in several countries around the globe; however, people are becoming more aware, literate, and adaptive to period care products to maintain a healthy lifestyle.
Supermarkets and Hypermarkets segment led the period panties market with a market share of around 40.2% in 2021
Increased awareness campaigns & initiatives and the need for hygiene and premium comfort are primarily driving the growth of the Period Panties market.
Leading market players active in the global Anigan, Clovia, Dear Kate, Knixwear, Lunapads International, Modibodi, PantyProp, Fannypants, THINX Inc., and Period Panteez, among others.
Political Factors- The factors such as the aging population, increasing consumer income, and government initiatives have driven the growth of the China topical drug delivery market. In addition, China accounts for about 40% of all active pharmaceutical ingredients (APIs) used globally in the global pharmaceutical manufacturing supply chain. In addition, the number of Chinese facilities that produce APIs for the U.S. have increased significantly over the past decade. This factor has been a primary contributor to this country's topical drug delivery industry revenue.
Economical Factors- The world has been observing an upsurge population of common skin conditions such as acne, benign tumors, contact dermatitis, psoriasis, cancers, and atopic dermatitis (also called eczema). For instance, according to the American Academy of Dermatology, 84.5 million (one in four) people in the U.S. were impacted by skin diseases that accounted for about $75 billion in costs to the U.S. health care system in the form of preventative, medical, and prescription & non-prescription drug costs.
Social Factor- This is mainly attributed to increased preference for pain-free drug delivery, prevalence of skin diseases, and an upsurge in demand for self-administered drugs. The prevalence of skin diseases has been one of the prominent factors contributing to the demand for topical drug delivery in the region. For instance, Acne is a significantly common skin condition across the U.S. which and affects more than 50 million people annually. In addition, the factors such as favorable regulations and technically innovative healthcare facilities across the U.S. and Canada boost the market growth.
Technological Factors- Some of the other factors that drive the market include the ease of drug delivery and technological advancements and innovations. In March 2019, Amneal Pharmaceuticals introduced the generic version of Exelon Patch (Rivastigmine Transdermal System), 4.6 mg/24 hours, 9.5 mg/24 hours, and 13.3 mg/24 hours. It is used for the treatment of dementia caused due to Alzheimer's and Parkinson's disease. Such innovations are expected to flourish the market growth over the projection period.
Environmental Factors- There is a significant prevalence of skin diseases due to increasing pollution and rising global warming in the general population across different regions of the globe. The world has been observing an upsurge population of common skin conditions such as acne, benign tumors, contact dermatitis, psoriasis, cancers, and atopic dermatitis (also called eczema). For instance, according to the American Academy of Dermatology, 84.5 million (one in four) people in the U.S. were impacted by skin diseases that accounted for about $75 billion in costs to the U.S. health care system in the form of preventative, medical, and prescription & non-prescription drug costs.
Legal Factors- Galderma S.A., a Swiss pharmaceutical company, announced the introduction of EPSOLAY Cream, 5% in the U.S. after the approval by the U.S. FDA on April 22, 2022. According to the company, this cream is a proven topical treatment for relieving the bumps and blemishes of rosacea. Johnson & Johnson, an American multinational corporation, introduced the J&J Centers for Global Health Discovery. This is a research partnerships network to address worldwide health challenges. Glenmark Pharmaceuticals, an Indian multinational pharmaceutical company under the brand name “MINYM,” launched India’s first topical Minocycline 4% Gel, which is focused on the treatment of moderate to severe acne.
List of Table
List of Figures