Greying India fuels adult diaper market boom, homegrown Friends leads the way

Nobel Hygiene

With around 1,700 people turning 60 every hour, India's senior population is projected to reach nearly 35 crore by 2050. Adult incontinence, a health and lifestyle concern that is sometimes a result of aging, is driving a fast-growing market for adult diapers.

Unlike baby nappies, dominated by global FMCG giants such as P&G, Unicharm and Kimberly-Clark, the Rs 1,200-crore adult diaper segment is commanded by homegrown Friends of Nobel Hygiene Ltd, with an over 50 percent market share.

Nobel Hygiene’s entry into the adult diaper segment was serendipitous. In the early 2000s, founder Kamal Kumar Johari imported a container of adult diapers alongside baby diapers, unaware of the market's readiness for such products.

While baby diapers sold out quickly, the adult ones remained untouched, with salespeople laughing out of chemist shops. Realising the need for awareness, Johari placed an advertisement in a leading newspaper and 65 calls from across India confirmed the latent demand. That is the moment Friends, now India’s leading adult diaper brand, was born.

A big opportunity

“Friends is not just a brand — it’s a category,” said Kartik Johari, chief marketing & growth officer and Kamal Kumar’s son.

The success of Friends led to the launch of a second adult diaper brand, B-FIT, positioned as a more economical alternative to the flagship brand, catering to price-sensitive consumers.

“We’ve built it brick by brick in a space where awareness and acceptance were almost non-existent,” Johari said.

"Today, Friends is a staple in pharmacies nationwide, and Nobel’s research-backed marketing continues to highlight how adult diapers can restore dignity and mobility for millions, especially the elderly and those with chronic conditions like diabetes.”

Adult diaper penetration is just 5 percent. The baby diaper segment, which is estimated at around Rs 11,000–12,000 crore, with a 30 percent penetration, dwarfs it.

The adult diaper category is growing at 15 percent, double the baby diaper segment, and is anticipated to reach $1.2 billion by 2032, according to market intelligence firm Credence Research.

While adult diaper is the flagship offering, Nobel also operates in the baby segment with Teddy, India’s largest homegrown brand with a 6.5 percent market share. It competes against giants such as Pampers and MamyPoko. It also owns Rio, India’s first heavy-flow sanitary pad brand, and Snuggies, acquired from Godrej.

The sector is seeing investor interest.

Nobel has raised funds from Quadria Capital, Sixth Sense Ventures and Neo Asset Management, among other marquee investors.

According to Johari, Nobel is positioning itself to ride this wave with a multi-decade view, supported by robust manufacturing, distribution, and recent policy tailwinds.

The company qualified for the government’s production-linked incentive (PLI) scheme for technical textiles and received its first subsidy payout, boosting margins and liquidity.

Expanding footprint

Nobel’s adult diaper business is also expanding internationally.

Friends is the leading brand in Sri Lanka and is present in hospitals across the UAE and the UK, where it enjoys strong consumer reviews. Yet, the company remains focused on India, where it sees the biggest opportunity.

The company’s revenue rose to Rs 773 crore in FY25 from Rs 689 crore in FY24 and is projected to cross Rs 1,000 crore this year.

With the capacity to scale up to Rs 1,600–1,700 crore already in place, Nobel is shifting focus to marketing and distribution.

E-commerce and quick commerce now account for 40 percent of sales, and the company is leveraging the goods and services cut (from 12 percent to 5 percent) and BIS norms to expand reach and curb low-quality imports.

Diaper manufacturing remains a complex and capital-intensive business. Nobel’s facilities in Nashik and Vadodara handle 15 raw materials and produce up to 20 diapers a second.

It sources super absorbent polymer (SAP) from Japan’s Sumitomo and wood pulp from North America and Europe, while non-woven fabric is now mostly domestically available.

Nobel is preparing for a pre-IPO fundraise and a public listing in three years. “This is a high-volume, low-margin game,” Johari said. “But the consumption stickiness is unmatched. We’re not just selling diapers—we’re building a category.”