VIETNAM MENSTRUAL CUPS MARKET IS EXPECTED TO FORESEE SIGNIFICANT GROWTH DURING THE FORECAST PERIOD. NORTH AMERICA TO WITNESS THE HIGHEST GROWTH
Vietnam Menstrual Cups Market is expected to reach the market valuation of US$ 2,715.16 thousands by 2028 expanding at a reasonable CAGR of 6.11% during the forecast period (2022-2028) from US$ 1,635.79 in 2020.
A menstrual cup is a small, flexible, cup-like structure made of silicone or latex rubber which is used to stop the menstrual flow from leaking into clothes. It collect a woman’s menstrual flow instead of absorbing it like a pad or tampon. Depending on the amount of flow, the cup is detached, emptied and cleaned, and then reinserted after every four-twelve hours. There are no harmful chemical, additives or absorbency gels used in the cup. Menstrual cups are available in different sizes such as round, flat, hollow, pointy, among others for different body shapes It is bell shaped and a stem at its top. The upper pat which is a stem enables insertion and removal of a cup inside vagina easily and the bell-shaped cup is sealed around the cervix.
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The demand for menstrual cups is witnessing an uptick on account of growing adoption of e-commerce amongst population. In addition to this, rise in disposable income coupled with certain benefits offered by menstrual cups over pads and tampons are some other key factors which is anticipated to bolster the demand for menstrual cups market during the forecast period. The rapidly growing middle-class population in Vietnam makes the country a very attractive market for foreign brands. It is estimated that the number of middle-class Vietnamese were 44 million in 2020 and forecasted to reach 95 million by 2030. Moreover, Vietnam’s strong consumer confidence and increasing household income levels have resulted to an overall increase in consumer spending. Increasing requirement for safe and effective hygienic products is making the key manufacturers in the country to launch new product into the market which enhance its demand and thereby spurring the overall growth of Vietnam menstrual cups market.
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COVID-19 has been challenging for companies in the consumer goods sector in one way or another. Supply chain disruptions have grown, because of which 76% of businesses have had to reduce revenue targets by an average of 23%. This resulted into accelerated jump to an online world. Companies had to become flexible with product offerings and adopt digital-first strategies. The entire consumer goods industry, in fact, has been forced into the digital age.
Based on product type, the market is divided into reusable menstrual cups and disposable menstrual cups. Out of which, the reusable menstrual cups segment holds a major share in the market and is expected to grow at the highest CAGR in the next 5 years owing to the rising initiatives taken by the government of Vietnam to produce eco-friendly menstrual products.
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In terms of material type, the market is categorized into medical grade silicones, natural latex rubber and thermoplastic elastomer. In 2020, the medical grade silicone segment dominated the market and is expected to maintain its dominance during the forecast period as well. This dominance can be attributed to its biocompatibility nature which poses less toxic effect to the female users.
Vietnam Menstrual Cups Market Segmentation
Market Insight, by Product Type
- Reusable Menstrual Cups
- Disposable Menstrual Cups
Market Insight, by Material
- Medical Grade Silicones
- Natural Latex Rubber
- Thermoplastic Elastomer
Market Insight, by Distribution Channel
- Online Stores
- Retail Stores
Top Company Profiles
- Procter & Gamble
- Diva International
- YUUKI Company
- The Keeper
- Redcliffe Hygiene Pvt. Ltd.
- The Flex Company