Vietnam Menstrual Cups Market: Current Analysis and Forecast (2021-2027)
$2800 – $4100
Emphasis on Product Type (Reusable, Disposable); Material Type (Medical Grade Silicones, Natural Latex Rubber, Thermoplastic Elastomer); Distribution Channel (Online, Retail)
Vietnam Menstrual Cups Market was valued at ~US$ 1,600 million in 2020 and is expected to grow at a CAGR of ~6.5% over the forecast period (2021-2027). As of 2020, the total population of Vietnam is 97,338,579 according to the Worldometer elaboration of the latest United Nations data. Out of which, 50.07% is female population. An average menstruation period is 15 to 50 years. Currently, a total of 2,94,65,282 females belong to this age group in Vietnam. Therefore, the increasing menstruating female population in the country is expected to bolster the market growth for the menstrual cups market over the coming years. In addition to this, rising awareness regarding safety and sanitary protection in the country is projected to provide good growth opportunities to the menstrual cups market.
Taking about the preference of online & digital channels in the country, below the age of 39, Internet browsing and social media activities account for about 74% of their media consumption, or about 3.7 hours per day. Also, people above the age of 40 spend more than 58% of their daytime on Internet browsing. This suggests that Vietnamese consumers across all age groups are highly adaptable to new technology. Hence, the companies must integrate online and digital channels, such as social media, with traditional and offline channels to effectively communicate and engage with their consumers. The rapid increase in the number of people using smartphones and other similar gadgets has propelled the demand for purchasing menstrual cups online.
The worldwide sudden outbreak of pandemic COVID-19 has positively impacted the consumer products market due to the rapidly shifting consumer behavior towards online platforms for purchasing various commodities, which ultimately have spurred the growth of the menstrual cups market in Vietnam.
Vietnam Female Population, Age-wise, July 2020
Procter & Gamble, Diva International, MeLuna, YUUKI Company, The Keeper, Redcliffe Hygiene Pvt. Ltd., Anigan, The Flex Company, Fleurcup, and Sanfe are some of the prominent players operating in the menstrual cups market. These major market players are focusing on adding accessories to their current products to expand their product portfolio and remain competitive in the market.
Insights Presented in the Report
“Amongst Product Type, Reusable menstrual cups segment holds the major share”
Based on product type, the market is divided into reusable menstrual cups and disposable menstrual cups. Among them, the reusable menstrual cups segment dominated the market by generating a major revenue of USD 1,047.23 thousand in 2020 and is further expected to witness the highest growing CAGR in the forthcoming years. This high traction is ascribed to the fact that these menstrual cups are majorly made up of silicone grade polymers which can be used again after proper sterilization or wash.
“Amongst Material Type, Medical Grade Silicones segment dominated the market during the forecast period”
In terms of material, the market is divided into medical-grade silicones, natural latex rubber, and thermoplastic elastomer. Out of which, the medical-grade silicone material segment accounted for nearly three-fourths of the total share in 2020 and is further anticipated to maintain its leading position in the market during forthcoming years as well. This can be ascribed to surging demand for safe, durable, and non-allergenic products. Although medical-grade silicone menstrual cups can be more expensive.
“Amongst Distribution Channel, Online Stores segment grabbed Major Market share in 2020”
Based on the distribution channel, the market is divided into online stores and retail stores. The online stores’ segment holds a maximum share in the market as Vietnamese women generally feel shy to ask for such menstrual hygiene products from nearby stores due to cultural resistance, thereby prefer buying through the online sales channel. For instance, in 2020, e-commerce revenue amounted to approximately USD 11.8 billion, accounting for approximately 5.5% of the total retail sales of goods and services in Vietnam. Vietnam has one of the fastest-growing internet economies in Southeast Asia, with a growth rate of 36% in 2020.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Vietnam Menstrual Cups Market Study|
|2.1||Research Methodology for the Menstrual Cups Market|
|2.1.1||Main Objective of the Menstrual Cups Market|
|7.1||Reusable Menstrual Cups|
|7.2||Disposable Menstrual Cups|
|7.3||Market Attractiveness Index, By Product Type|
|8.1||Medical Grade Silicones|
|8.2||Natural Latex Rubber|
|8.4||Market Attractiveness Index, By Material|
|9.3||Market Attractiveness Index, By Distribution Channel|
|17.1||Demand Side Analysis|
|17.2||Supply Side Analysis|
|17.2.1||Top Product Launches|
|17.2.2||Top Business Partnerships|
|17.2.3||Top Business Expansions, Investments and Divestitures|
|17.2.4||Top Merger and Acquisitions|
|19.1||Porter’s Five Forces Analysis|
|19.1.1||Bargaining power of Supplier|
|19.1.2||Bargaining power of Buyer|
|19.1.4||Availability of Substitute|
|19.1.5||Threat of new Entrants|
|19.2.1||Company Shares, By Revenue|
|20.1||Procter & Gamble|
|20.6||Redcliffe Hygiene Pvt||Ltd|
|20.9||The Flex Company|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the menstrual cups market were the three major steps undertaken to create and analyze the adoption of menstrual cups across the country. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the menstrual cups market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the menstrual cups through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the menstrual cups market, we conducted a detailed secondary analysis to gather historical market insights and share for different product type and material for the country. Major segments included in the report are product type, material, distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of menstrual cups.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of menstrual cups. Further, we conducted factor analysis using dependent and independent variables such as rising female population looking for safe and effective products along with high e-commerce penetration. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the menstrual cups industry in the country.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the menstrual cups market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/top-down approach was applied to arrive at the market forecast about 2028 for different segments and subsegments across the major markets in the country. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of menstrual cups across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the menstrual cups market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the menstrual cups market. Data was split into several segments & sub-segments post studying various parameters and trends in the product type, material, distribution channel of the menstrual cups market.
Main Objective of the Menstrual Cups Market Study
The current & future market trends of menstrual cups were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of menstrual cups in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, material, distribution channel.
- Define and analysis of the regulatory framework for the menstrual cups industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the menstrual cups market for the country.
- Company profiles of the menstrual cups market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry