Report on China’s adult incontinence products industry in 2021 From Zhongtai securities
The following is the Report on China’s adult incontinence products industry in 2021 From Zhongtai securities recommended by recordtrend.com. And this article belongs to the classification: Securities report, Life data.
High growth track with ten times space in ten years: adult incontinence products, baby care and female hygiene products are the same as absorbent personal care products. In 2020, the market scale of adult incontinence products in China is about 6.12 billion yuan, with a compound growth rate of 25% from 2015 to 2020, which has the characteristics of low penetration, low per capita and high growth. In the industrial life cycle, affected by the population structure, the outbreak of adult incontinence product market naturally lags behind infant and female care.
Benefiting from the catalysis of aging, consumption upgrading and potentially related social welfare policies, the adult incontinence products industry is transforming from the introduction period to the growth period. Compared with other personal care segments, it is a scarce high growth track. According to the calculation, the market scale is expected to reach 59.03 billion yuan in 2030, and the CAGR will reach 25.4% in ten years.
Competition factors and pattern deduction: weak brand awareness + different channel structure, uncertain pattern, leading domestic products. In 2020, the Cr5 of China’s adult incontinence products industry is 28.4%, which is lower than 68% in the United States and 93% in Japan. At the same time, 8 of the top 10 brands in the market share are domestic brands. Compared with the infant and female health products industry, the strength of domestic products in the field of adult incontinence products is obviously superior.
The reason is that in the early stage of industry development, consumer price sensitivity and the difference of channel structure of adult incontinence products constitute the survival space of domestic small and medium-sized brands. In the long run, benefiting from the upgrading of consumption and the awakening of brand awareness, we believe that the industry will also experience a process from decentralization to concentration, and domestic products are expected to build barriers by virtue of their products and first mover advantages.
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