Market Overview
Menstrual cups are a medical device women use to maintain hygiene during their menstrual cycle. These menstrual cups were first introduced by an American actor, Leona Chalmers. They have several advantages, such as reusable menstrual cups, which can be washed, cleaned, and used every few hours. They are also budget-friendly, easy to use, and available in various shapes and sizes. The growing trend for using eco-friendly products among women is anticipated to propel the market growth during the forecast period. Companies in the market are also launching products that help create ease of using these products. Increasing investments in developing new products are also aiding the market growth. The increasing women’s population globally has fuelled the consumption rate and is anticipated to fuel the demand for these cups globally.
Key Trends
- One major trend Credence Research Inc. is expected to see in the menstrual cups market is its growing introduction of new products that are available with an easy glide applicator, and various sizes are some of the factors expected to boost the market in coming years.
- Another trend that Credence Research Inc. predicts will continue in the menstrual cups market is the growing trend for using them, as they are reusable and eco-friendly, which will boost market expansion.
Economic Impact Analysis
Companies suffer huge losses when the economy slows down. The menstrual cups market report, 2022-2030 consider the predicted consequences of the economic downturn on the pricing and accessibility of the products.
- Recession
According to the Credence Research Inc. market report, the recession will significantly impact the global menstrual cup market. According to the World Bank, as the central banks globally are increasing the interest rates owing to inflation, there is a chance of a global recession in 2023. The central banks have increased their interest rate over the past five decades. Yet these levels were not enough to cause a recession before the pandemic. However, investors in the central banks are raising global monetary policy rates to around 4% in 2023, an increase of more than 2% over the 2021 average. This is anticipated to affect various industries. It is highly affecting countries such as the U.S. and countries in the European region. Thus manufacturers from this region will be affected owing to the same.
- Ukraine-Russia War Impact
The Russian invasion of Ukraine affects global trade as they make up 30% of global trade. The war is also anticipated to affect the global menstrual cups industry as the cost of raw materials is rising owing to the war. The war has led to increasing fuel prices, such as oil & gas, affecting the manufacturing processes. Several chemical manufacturing industries are facing shortages of raw materials and inflated costs of raw materials. Countries in Europe are dependent on fuel from Russia and Ukraine. Due to the Russia and Ukraine conflict, several major oil companies have announced that they would cease their relations with Russia, which has led to a fuel shortage, especially in the European region. Thus, increasing the cost of the final manufactured products. Thus, such factors are anticipated to affect market growth to a certain extent.
- China COVID Outburst December 2022
The current situation of COVID-19 in China is anticipated to affect the menstrual cup market adversely in 2023. Researchers have stated that around 1.3 to 2.1 million people in China could die from this new Covid-19 wave. This new COVID-19 surge has been driven by BF.7 Omicron sub-variant and is highly infectious. China imposed a ‘Zero Covid’ policy to tackle wit this surge. However, after the nationwide protest, there was a relaxation in China’s ‘Zero Covid’ policy. The company’s manufacturing of the product in China might get heavily affected as the costs of raw materials could rise if there is high demand for those products. China is a leading chemical manufacturer. For instance, silicone is used for manufacturing menstrual cups and g masks that can help protect against COVID-19 infection. Thus higher demand from pharmaceutical industries can lead to increased costs and thus affect the market.
Regional Analysis
In 2022, the greatest revenue share in the menstrual cups market was attributed to North America. Higher demand for the products as they are easy to use and available in various shapes and sizes. Moreover, growing awareness regarding the benefits of using menstrual cups compared to sanitary pads and tampons is driving the market growth. Furthermore, the rising disposable income and growing expenditure on hygiene products is anticipated to fuel the market growth during the forecast period.
STAR Analysis
- Situation
Launching a new product in the market is time-consuming and requires much effort. To understand the current market situation, our client, a start-up planning to enter the menstrual cups market, required a detailed study of the market.
- Task
The client wanted to launch a new product in the market and hence wanted a detailed analysis of the trends in the market. They also wanted to get an idea of the market competition before launching the product. Moreover, understanding the regulatory landscape was the client’s additional requirement.
- Action
The client got in touch with Credence Research Inc., which assisted the client in providing an understanding of the overall market so that the client could launch the menstrual cups in the market. The report “Global Menstrual Cups Market, 2023-2030” published by Credence Research Inc. in 2023 thoroughly analyses the types of menstrual cups available in the market. Additionally, the regulatory landscape for launching a product was analyzed as menstrual cups are medical devices and hence need approval from various regulatory bodies. Moreover, detailed company profiles were provided in the report, along with the strategies adopted by the other companies in the market.
- Result
Credence Research Inc.’s thorough analysis report of the menstrual cups market titled “Menstrual Cups Market By Materials (Silicone, Thermoplastic Isomer, Rubber, Latex) By Size (Small, Large) – Growth, Future Prospects & Competitive Analysis, 2016-2030” assisted the client in gaining a detailed understanding of the market so they could launch a product. The report also guided them regarding the products already available in the market and in which region they are available so the client could launch the product in the region with high demand.
