January 7, 2011
SAN JOSE, Calif.According to a recent comprehensive report, release by Global Industry Analysts Inc. (GIA), although the prolonged severity of the current economic slowdown has elicited declines in spending, and has stranded revenue growth with consumers mostly trading down to cheaper products at low price points, the feminine hygiene products market is still forecasted to recover poise in the medium-to-short term period to reach US$14.3 billion by the year 2015. The industry over the past decade or two witnessed phenomenal growths as a result of improvements in the standard of living, and growth in media and public attention to womens health. Full-fledged advertising, commercialization and marketing of feminine hygiene products is a fairly recent phenomenon in the industry. Designed to appeal to modern women and their changing lifestyles, manufacturers are positioning their products as being convenient, gentle, safe and effective. Products with diverse formulations proffer the promise of several curative and specific hygiene benefits. Development of medically proven hypoallergenic formulas and other natural ingredients emerged into a boon, shattering stigmas once associated with feminine hygiene products. With effervescent new product innovations on cards, the industry is graduating to a competitive environment where corporate success would hinge on the ability to efficiently track ever-changing consumer preferences and develop cost effective products. The market is flooded with products claiming comfort and varied designs, super absorbability and other features as their forte.
Reduced acceptance of throwaway convenience and increased emphasis on resource optimization, environmental benefits, product performance and value-to-price will characterize the consumer, post recession. The trend toward downtrading has exerted immense downward pressure on prices, forcing manufacturers to absorb increases in production costs and operate on thinning profit margins. Decreases in purchase frequencies are also the result of frugal consumer spending triggered by falling disposable spends, reduction in household wealth and rise in unemployment.
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