The Global Wipes Market Size is expected to reach USD 5.83 billion by 2027, exhibiting a CAGR of 6.0% during the forecast period. The growing concerns regarding hygiene and sanitization during coronavirus pandemic will spur opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Wipes Market Size, Share & Industry Analysis, By Application (Personal Care, Household, and Others), Types (Disposable and Non-disposable), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Specialty Stores, Online Channel, and Others), and Regional Forecast, 2020-2027” the market size stood at USD 3.66 billion in 2019.
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The emergence of coronavirus has caused the world’s economy to tumble down. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
Key Companies of Wipes Market:-
- Kimberly-Clark Corporation (U.S.)
- NICE-PAK Inc. (U.S.)
- Edge well Personal Care (U.S.)
- Clorox Company (U.S.)
- Orchid Paper Products Company (U.S.)
- AbitibiBowater Inc. (Canada)
- Kruger Inc. (Canada)
- Asian Pulp & Paper (Indonesia)
- Svenska Cellulosa AB (Sweden)
- Hengan (China)
- CMPC Tissue SA (Chile)
- Sofidel Group (Italy)
Product Innovation and Advancement to Back Market Growth:-
The increasing R&D investment by major companies for the development of cutting-edge sanitary products to cater to the need for efficient hygiene solutions will foster healthy growth of the market during the forecast period. Moreover, the focus on the integration of skin enhancement ingredients in wipes for nourishment and moisturization will subsequently propel the growth of the market in the forthcoming years. For instance, in October 2019, SKYN introduced ‘GET FRESH’ a refreshing and cleansing wipe that consists of provitamin B5 to give moisturization and soothing cleanse to the skin. The surge in the female population around the world will have a tremendous impact on the market in the forthcoming years. As per the data published by the International Labor Organization (ILO), as of 2018, nearly 47.8% of the global working population is female. Moreover, the increasing inclination towards personal health and care among consumers will consequently boost the growth of the market.
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- What Factors are estimated to drive and restrain the market growth?
Expanded Demand for Sanitary Products Amid Global Pandemic:-
The rising demand or facial tissues, sanitizer wipes & toilet papers during coronavirus will accelerate the growth of the market. Moreover, the growing apprehensions regarding bacterial infections will fuel demand for the market in the forthcoming years. The increasing cases of coronavirus around the world will simultaneously increase the production of wipes, which in turn, will aid the expansion of the market. According to the World Health Organisation’s research data, by the end of April 2020, the US alone consists of 3, 33,811 number of COVID-19 infected people. In addition, the rising emphasis to maintain a germ-free environment during the coronavirus epidemic will promote the growth of the market during the forecast period.
Improved Living Standard to Incite Development in North America:-
The market size in North America stood at USD 865.21 million in 2019 and is expected to rise rapidly during the forecast period improved the living standard of people in the region. According to the report ‘World Urbanization Prospects The 2018 Revision’, published by the United Nations Department of Economic & Social Affairs, as of 2018, 82% of the US population accounted for 327 million people’s lives in urban areas in the United States. The rising urbanization and well-equipped hospital facilities will foster the healthy growth of the market in the region. Moreover, the presence of major companies such as Nice Pak, America Hygienics Corporation, and Kimberly Clark Company. Europe is likely to witness a significant growth rate during the forecast period owing to the booming hospitality industry. The increasing number of tourists in the region will contribute positively to the growth of the market in Europe.
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The report on the wipes market highpoints:-
- Reliable conceptions of recent market trends
- Obtained data with superior analysis
- Market Drivers
- Detailed information about the key players in the market
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