The Wet Wipes Market is experiencing a refreshing wave of popularity, fueled by a growing consumer preference for convenient and effective hygiene solutions. According to a recent market analysis, the industry raked in a substantial US$4.3 billion in revenue in 2023. This momentum is expected to continue, propelling the market forward at a stellar Compound Annual Growth Rate (CAGR) of 7.8% over the next decade.
Future Market Insights (FMI), a leading market research firm, predicts a bright future for wet wipes, with the market reaching a staggering US$9.22 billion by 2033. This significant growth reflects a substantial shift towards embracing on-the-go hygiene and personal care practices.
The driving forces behind this exponential growth are multifaceted, primarily fueled by a heightened global awareness of proper hygiene practices. Across nations, the installation of comprehensive healthcare programs further propels the demand for the Global Wet Wipes Industry, positioning it as a pivotal player in promoting and sustaining healthy living practices.
Wet wipes and wet towels have emerged as indispensable personal hygiene products, owing to their convenience and widespread availability. Recognizing the escalating demand, manufacturers are responding dynamically by introducing an extensive array of products. From baby wipes to makeup wipes, disinfectant wipes to wound care wipes, the industry is diversifying its offerings to cater to diverse consumer needs.
Request a Sample of this Report Using a Work Email To Get a Quick Reply!
https://www.futuremarketinsights.com/reports/sample/rep-gb-13751
Market competitors are introducing eco-friendly and biodegradable Wet Wipes produced from wood pulp and cotton as an alternative to synthetic fibers, 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 Industry’s growth prospects.
The FMI study projects the US to lead the North American 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 e-commerce 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.
Wet Wipes Market Key Takeaways:
- Incontinence wipes are expected to account for roughly 27% of the Global Wet Wipes Industry 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 wipe sales during the assessment period.
Restraints:
- The 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 from the Wet Wipes Market
Leading players operating in the Global Wet Wipes Industry 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 the Wet Wipes Market profiled by FMI include:
- Essity Aktiebolag (publ)
- Kimberly-Clark
- Procter & Gamble
- Cardinal Health
- Medtronic
- Stryker
- Coloplast
- Others
Click Here To Purchase Your Detailed Report
https://www.futuremarketinsights.com/checkout/13751
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 20223 to 2033. To gain a better perspective of the Global Wet Wipes Industry potential, its growth, trends, and opportunities,
The Wet Wipes Market is segmented based on:
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 Centres
- Long-term care Centres
- Homecare Settings
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
