Growing awareness of appropriate hygiene practises, as well as the installation of healthcare programmes in many nations to encourage healthy living, are driving up demand for Wet Wipes Market.
Given this, ESOMAR-certified consulting firm Future Market Insights (FMI) forecasts the worldwide Wet Wipes Market to be worth US$ 3.7 billion in 2021. The market is expected to achieve a valuation of US$ 8.0 Billion by the end of 2031, expanding at a healthy 7.6% CAGR.
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Wet Wipes and wet towels are easy to use and widely available, making them one of the most popular personal hygiene products. Manufacturers are launching a wide range of goods, including baby wipes, makeup wipes, disinfectant wipes, and wound care wipes, in response to the increased demand for Wet Wipes. These elements will generate profitable growth opportunities in the next years.
Market competitors are introducing eco-friendly and biodegradable Wet Wipes produced from wood pulp and cotton as an alternative for synthetic fibres, which is driving wet wipe sales.
The rising prevalence of health-related illnesses in the elderly, such as incontinence-associated dermatitis (IAD) and catheter-associated urinary tract infection (CAUTI), is driving up demand for Wet Wipes, particularly in hospitals.
Wet Wipes are expected to gain traction over the forecast period because they efficiently serve the objective of maintaining hygiene standards and removing germs, dirt, and dust build-up on the skin and other physical surfaces.
In addition, the rise of local and small players, creative product development, clever marketing strategies implemented by top manufacturers, and commercialization of Wet Wipes are increasing the global Wet Wipes market’s growth prospects.
The FMI study projects the US to lead the North America Wet Wipes market. Rapid expansion of distribution channels, coupled with increasing per capita healthcare expenditure are anticipated to bode well for the Wet Wipes market in the U.S.
“Expansion of the ecommerce sector is resulting in easy availability and increasing sales of Wet Wipes across the globe. In addition to this, government-backed healthcare reimbursement plans will continue driving sales of Wet Wipes over the forecast period,” says the FMI analyst.
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Key Takeaways:
- Incontinence wipes are expected to account for roughly 27% of the worldwide Wet Wipes market share during the forecast period.
- The hospital segment is expected to increase at a 6% CAGR through 2031 in terms of end users.
- It is estimated that the United States accounts for more than 80% of the North American Wet Wipes market.
- Germany will dominate the European Wet Wipes industry in 2021, accounting for 23% of the market.
- China is expected to emerge as a profitable market, accounting for 40% of the East Asian Wet Wipes market share.
- The Japanese Wet Wipes market is expected to develop at a 9.3% CAGR through 2031, while the South Korean Wet Wipes market is expected to rise at a robust 10% CAGR.
Prominent Drivers:
- Collaborations among key market players to launch innovative products will provide tailwinds to Wet Wipes sales during the assessment period.
Restraints:
- Availability of cheaper alternatives such as soaps, cleansing milk, and face washes might hamper sales of Wet Wipes.
- Chances of allergic reactions and irritability on the skin might result in decreased sales of Wet Wipes.
Competitive Landscape
Leading players operating in the global Wet Wipes market are aiming to expand their global footprint through strategic collaborations, mergers, and acquisitions. In addition to this, launching innovative products, research, and development and strengthening distribution channels will remain key growth strategies among players. For instance:
- Medline partnered with Intelligent Observation (IO) in January 2021 to help healthcare professionals manage healthcare-associated infection rates.
- Essity announced the acquisition of ABIGO Medical, a wound care company, and Asaleo Care, an Australian hygiene company, in July 2021.
Leading players operating in Wet Wipes Market profiled by FMI include:
- Essity Aktiebolag (publ)
- Kimberly-Clark
- Procter & Gamble
- Cardinal Health
- Medtronic
- Stryker
- Coloplast
- Others
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More Insights on FMI’s Wet Wipes Market
The latest market study on the Wet Wipes market by Future Market Insights gives a detailed segmentation for the forecast period of 2021 to 2031. In order to gain a better perspective of the global Wet Wipes market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Product:
- Incontinence wipes
- Baby Wipes
- Adult Wipes
- Skin Antiseptic Wipes
- Feminine Hygiene Wipes
- Skin Care Wet Wipes
- Sterile Wound Cleansing Wipes
Disposability:
- Flushable Wipes
- Non-Flushable Wipes
Application:
- Incontinence
- Skincare
- Personal Hygiene
- Wound Care
End-User:
- Hospitals
- Clinics
- Specialty Centers
- Long term care centers
- Homecare Settings
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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