Hundreds of attendees will gather in Orlando from October 24 to 27 for the second annual Hygienix conference. The conference is offering workshops, an exhibition, and expert speakers for three days for professionals in the absorbent hygiene and personal care industry.
Why is this market such a big deal in the nonwovens world?
For starters, the economy in general is doing pretty well. When consumers feel like they have more disposable income, they spend more money on, you guessed it, disposable products. And the economy is currently doing pretty well. The Bureau of Economic Analysis (based out of the U.S. Department of Commerce), estimates that the GDP (Gross Domestic Product) of the U.S. increased at an annual rate of 1.4 percent in quarter two of 2016. In a nutshell, that means that the U.S. is producing more which means that consumers have higher incomes. That usually means they are spending more. When consumers spend more, they often spend it on small luxuries like makeup remover wipes.
One segment of the personal care market, according to market research from Lucintel, is the beauty market, estimated to reach $265 billion by 2017. Nonwoven products in the beauty industry include makeup remover wipes, wax removal strips, self-tanning wipes, acne medication wipes and facial cleansing wipes.
And, naturally, there is the absorbent hygiene segment of the market that includes baby wipes, flushable and non-flushable bathroom wipes, feminine products and anti-bacterial hand wipes.
According to Persistence Market Research, the global feminine products market alone is anticipated to reach $35.2 billion by the end of 2024 from $19 billion in 2015 which is a growth rate of 7.2% each year. That market, which has been around since nurses in World War I discovered using cellulose bandages for absorbency, always has room for improved products and perhaps even brand-new products as women continue to look for better absorbency for their active lifestyles.
All in all, the Hygienix conference seems to be spot on in highlighting one of the premier potential growth segments of the nonwovens market. As expanding markets continue to increase along with increasing GDP in existing markets, there will be more and more room for new, and improved, absorbent hygiene and personal care products. The time for new product development appears to be now.