Competition in the global tampons market rides on innovation as companies try to introduce a new product to garner the interest of consumers. These findings have been published in a recent report on the global tampons market by Transparency Market Research. With new players making headways due to demand, existing players are upping the ante to stay ahead in the league. Further, changing behavior of the consumers has led to evolution in the product line of several companies.
At the same time, regional players are striving to cut down costs of their products to compete with established brands. Some of the top names in the global tampons market include Bodywise (UK) Ltd, Svenska Cellulosa Aktiebolaget (SCA), Lil-Lets UK Limited, Corman SpA, First Quality Enterprises Inc., Johnson & Johnson Inc., Procter and Gamble Co., Edgewell Personal Care Company, Kimberly-Clark Corporation, and Unicharm Corporation.
The global tampons market is predicted to attain an overall value of US$6.34bn by the end of 2025. TMR analysts state that the global market for sanitary napkins will grow at a moderate CAGR of 5.6% in the future.
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When it comes to geography, North America is considered to lead the global tampons market in the coming years. The high levels of awareness among women in countries like the U.S. are considered driving factors for growth here. Further, Europe will continue to remain a prominent region while Asia Pacific is expected to expand at a rapid pace.
Importance to Sanitation and Hygiene to Promote Growth
According to the World Bank, more than 500 million women across the world lack access to menstrual hygiene. It could lack of access to water, sanitation, or hygiene. This describes the voluminous potential for growth in the global tampons market. While most players in the global tampons market have tried capturing new geographical location every year, the demand is only expected to rise further.
A major role has been played by governments and non-profit organizations to instill menstrual hygiene awareness among women. Awareness activities in schools, rural areas, and universities has promoted the use of tampons. As a result, companies have attempted to rollout their own awareness programs to acquire new consumer base. These new techniques are expected to trigger growth in the global tampons market.
Further, growing population of women is also considered to trigger growth in the global tampons market. With many countries working on improving their male-female ratio, the female population has improved in countries like India. This trend is considered to fuel demand in the global tampons market.
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Research and Development to Create New Opportunities
Technology is predicted to play a key role in driving growth in the global tampons market in the future. As requirements of consumers evolve with every day, companies are working on developing new-age products that cater to their varying demands. Many companies have heavily invested on research and development. The new opportunities created by consumers will open growth prospects for players in the global tampons market.
Varying age groups, different health conditions, and other parameters are becoming key aspects for manufacturers to develop new products. At the same time, use of cheaper and eco-friendly raw materials, and easily disposable products are predicted stimulate growth in the global tampons market.
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