Roughly US$ 22,500 Mn worth of consumer wet wipes are estimated to be sola around the world by 2026-end.
[UKPRwire, Fri Apr 19 2019] Surging online retailing of wet wipes and tissues, enormous demand for multifunctional wet wipes in compact packages, and growing demand for specialty wipes are key trends influencing growth of the global consumer wet wipes market. Manufacturers of consumer wet wipes are marketing their products online via their own web portals for increasing their product visibility and accelerating their revenue generation. This report, published by Fact.MR, provides in-depth analysis of the global consumer wet wipes market for the forecast period 2017-2026, and offers key insights about future market direction.
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Consumer wet wipes are skincare products developed for maintaining health of the skin, and comprise properties such as acne prevention, ultraviolet protection, anti-aging, anti-inflammatory, and skin smoothing. A wide range of plant-derived, synthetic oil, and water solution-based wipes are marketed and sold across the globe.
Omnichannel retailing has been a rising trend among industries across different countries. Manufacturers of consumer wet wipes are focusing on the distribution of their products via different physical stores that include convenience stores, hypermarkets, supermarkets, department stores, and pharmacy stores. The online retailing, whose backbone is the internet, is therefore expected to witness proliferation in the foreseeable future, thereby providing a boost to sales of consumer wet wipes worldwide. Convenience and portability associated with packaging of consumer wet wipes are considered to be imperative factors influencing their purchases, as compact packaging, such as travel packs, enhances portability and reduces the overall cost of the product. Growing adoption of specialty wipes is another major trend being witnessed around the world, as these wipes can be utilized by humans as well as for pets such as cats and dogs. Specialty wipes also facilitate use in cleaning cars, and hard surfaces & floors at residential spaces. Key companies producing consumer wet wipes are now introducing wet wipes for use in industrial applications, such as cleaning & protecting hands of workers, machinery and tools, for maintaining hygiene at workplaces.
A new research study of FactMR envisages the global market for consumer wet wipes to depict an average 4.9% value CAGR between the period 2017 and 2026. More than 394,000 thousand units of consumer wet wipes are pegged to be sold across the globe by 2026-end.
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Europe to Dominate Global Consumer Wet Wipes Market
In terms of value, Europe will continue to dominate the global†consumer wet wipes market†on the back of improving economic vigour and higher consumer spending on personal care products in the region. This has further created demand for more task-specific, higher value wet wipes in Europe. In addition, the market in Europe is likely to witness introduction of innovative wet wipes in the near future.
Among various technologies utilized for the production of consumer wet wipes, spunlace will remain preferred over others on the back of its benefits including provision of high strength and soft texture, along with good absorbency and durability. Spunlace technology is primarily utilized for manufacturing drapes, household wipes, facial wipes, and baby wipes, which seek immense adoption worldwide. Spunlace technology will continue to account for the lionís share of the market, in terms of value.
Vendors of cosmetic wipes are increasingly focusing on product enhancements in accordance with stringent government regulations and standards for ensuring safety of utilization. In addition, the market vendors are also concentrating on launching specialized and innovative cosmetic wipes for different skin types. Cosmetic wipes will therefore remain dominant among products in the global consumer wet wipes market.
Modern trade will remain the most lucrative sales channel for consumer wet wipes, trailed by online stores and departmental stores. Consumer wet wipes sales are projected to exhibit the fastest expansion in modern trade through 2026.
The competitive environment of the global consumer wet wipes market is intense, with vendors adopting many competitive strategies that include research & development, mergers & acquisitions, and product innovation. The market vendors are also making investments in potential untapped markets in a bid to expand their businesses. In addition, soaring product visibility on social media and digital platforms, along with product portfolio expansion will further assist vendors in gaining a competitive edge in the market. Fact.MRís report identifies key players fuelling the market growth, which include Johnson & Johnson, Kimberly-Clark, Unicharm, Hengan, Pigeon Corporation, Burt's Bees, Farlin Infant Product Corporation, TLC International, Nice-Pak Products, Inc., and Excelcare Products.
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