Intimate wellness market size estimated to reach $40.4 bn by 2026

The feminine hygiene products market is expected to expand at a compound annual growth rate (CAGR) of 16.87 per cent during the 2021-2025 period, to reach a value of Rs70.20 billion by 2025. "The sexual wellness market size is estimated to reach $40.4 billion by 2026," says Vikas Bagaria, founder & CEO, Pee Safe, in an exclusive interview with Bizz Buzz

According to the IMARC Group, the global personal hygiene market has touched a value of $55.7 billion in 2020. A steady CAGR of 5.80% is forecast until 2026. Irrespective of which country we talk about, hygiene and wellness have become a priority for all ages/genders and territories in the wake of the pandemic

The D2C beauty space is growing and evolving consistently; how do you stay relevant in a highly competitive market?

Pee Safe's products are category specific and unique. All our products are the outcome of thorough market research and the demand among our target group, especially the millennials. They are not just innovative, but also effective and natural. The beauty market is massive and as long as customers like the products, we will also be relevant in this ever-expanding domain.

What is the future of the Direct to Consumer (D2C) ecosystem in India?

India is a mega market with over 1.35 billion potential customers from diverse cultures and regions. The country is one of the largest global retail destinations with the market size set to cross $1.7 trillion by 2025. The D2C sales channel is also growing in sync and is expected to be worth over $100 billion by that time. The major factors that will separate D2C winners from the also-runs is their omni-channel approach. This is because while the online approach is crucial to building a brand's pan-India recall and demand, winning the trust of customers in the non-metro cities and small towns across India demands a presence in the offline shop shelves as well. As per estimates, there are nearly 600 prominent D2C brands in India today, and the number is expected to increase sharply in the years ahead!

There is increased focus on the feminine hygiene and sexual wellness industry - your thoughts on what to expect in 2022?

The feminine hygiene products market is expected to expand at a compound annual growth rate (CAGR) of 16.87 per cent during the 2021-2025 period, to reach a value of Rs70.20 billion by 2025. The sexual wellness industry is estimated to reach $40.4 billion by 2026. In both cases, the primary factor responsible for this traction is heightened awareness. Most of Pee Safe's products are category leading and serve unresolved needs. The intimate and sexual wellness domain remains largely unaddressed despite a humongous need eclipsed by taboos. We are aiming at building mass awareness which will surely drive significant sales for them. We have already taken the first step through our Domina range of products including female condoms etc. The need has been established and in 2022, Pee Safe will aim to meet the demand to the fullest extent possible.

What is driving the hygiene industry in India?

According to the IMARC Group, the global personal hygiene market has touched a value of $55.7 billion in 2020. A steady CAGR of 5.80 per cent is forecast until 2026. Irrespective of which country we talk about, hygiene and wellness have become a priority for all ages/genders and territories in the wake of the pandemic. The pandemic has also widely underscored that preventive care through all-round hygiene is the best and most comfortable approach to healthy living.

Funding in the D2C ecosystem has been the talk of the town during 2021 with a number of players becoming Unicorns' what is your take on this and how easy is it to raise funds in the current scenario?

The Indian D2C arena is going to be hotly contested by the players as well as the investors in the years ahead. There have been numerous D2C successes in the country and this coupled with the pandemic impact has made investors rally behind the innovative, useful and agile D2C brands. There is bound to be a much superior investor activity and expansion of the market in the years to come. There will also be significant consolidation as roll-up companies as well as the leading players will go on an acquiring spree to further expand their market command. The market is primed for unicorns and even IPOs in the next few years.

How the journey has been for Pee Safe over the past seven years?

Pee Safe, India's leading hygiene and wellness brand, was founded in 2013. My personal experience with my wife and co-founder Srijana Bagaria was the inception point. An infection she contracted led to the creation of our bestselling flagship product called the Pee Safe toilet seat sanitizer spray. Over time, we have grown from strength-to-strength to become the house of safe and is amongst the largest D2C digital first hygiene and wellness brands in India. As one of the earliest movers in the segment, Pee Safe has witnessed exponential growth and we have diversified into multifarious product categories today. We also have a strong pan-India footprint in over 15,000 stores and more than 150 cities. We aim to launch over 50 franchise stores across India in the coming months.

Please throw some light on the company's expansion plan.

At Pee Safe, we are on a mission to take care of the unresolved wellness and hygiene needs of the public. After having achieved a strong pan-India footprint, we are now aiming for global expansion in the coming year including in countries like the US and UK. Our innovative and high-quality toilet seat sanitizer spray has already become a category leading product in most markets that we operate in.

You are known as the house of safe - tell us about your product categories, and upcoming launches.

From toilet and menstrual hygiene to skin care and sexual pleasure, we offer complete health and wellness solutions that are transforming the ecosystem.

We have four brands namely Domina (sexual wellness), Pee Safe (feminine hygiene), Raho Safe (affordable hygiene and sanitation products) and Furr (skin care). Some of our best selling and innovative products include the Pee Safe toilet seat sanitizer spray, Domina Kegel balls, female condoms and body massager, Pee Safe menstrual cup, disc and cramp relief roll on and Furr range of face serums, razors and hair removal cream. The products offered by Pee Safe are all introduced after thorough market research. Pee Safe's innovative and sustainable approach makes the products different from the other existing ones in the market.

What is the company's outlook in 2022?

As we move into 2022, our focus will be on increasing our brand traction and consumer engagement. In 2021, we decided to introduce the FOFO model (Franchise Owned Franchise Operated) of stores. We are now planning to add another approximately 45 FOFO stores in different cities across India. Alongside giving us audience access in different regions, these stores will also be instrumental in the brand's revenue generation. At present, Pee Safe products have a presence in nearly 15,000 stores across 150 plus cities. Going forward, we will pay greater attention to development of the offline local markets for Pee Safe. Apart from this, the time has come for us to enter the highly-competitive United States and United Kingdom markets.

From being a digital-only brand to having an omni-channel presence - what is your growth strategy, your growth drivers as a D2C brand?

Pee Safe has constantly focused on expanding its outreach through a diversity of marketing mediums in the digital as well as on-ground segments. Our product ranges are aimed at breaking stereotypes and prevalent taboos. Thus, it is absolutely essential for Pee Safe to consistently spread awareness about the challenges and educate consumers. For this, we have been focusing on using a multi-medium communication strategy supported with relatable and bold content. We will be using this approach as part of our growth strategy ahead. We will also be expanding our offline retail footprint. Through our years of operation in India, we have seen the continuation of offline versus online debate. Despite the rise in the online segment, the offline channels continue to be the major drivers of business growth. The market share is bigger, and the customer experience in offline retail is more immersive, unique and relatable than e-commerce retail.