The global biodegradable gloves market is witnessing impressive growth, with projections indicating a significant rise to USD 1.3 billion by the end of 2022 and an extraordinary compound annual growth rate (CAGR) of 23.0% throughout the forecast period. Experts predict that by 2032, the market will skyrocket to a staggering USD 10.2 billion.
This rapid expansion is driven by a surge in environmental awareness and increasing regulatory pressures across the globe. Conventional rubber gloves, widely used in medical and industrial sectors, are major contributors to solid waste due to their non-biodegradable properties. Designed for single-use, these latex products exacerbate the annual disposal of rubber waste, posing significant environmental challenges.
In response to these pressing concerns, the integration of biomaterials into glove production is emerging as a pivotal solution. Innovations such as Bio-Add and other green additives are revolutionizing the industry, enabling faster biodegradation of non-rubber latex gloves. These advancements not only bolster environmental sustainability but also align with stringent regulatory standards for eco-friendly products.
The escalating market value reflects a growing awareness of environmental impacts, driving both businesses and consumers towards sustainable alternatives. Biodegradable gloves, known for their reduced ecological footprint, are increasingly sought after across diverse industries.
According to an analyst from Future Market Insights, “The realization that biodegradable gloves do not pose health hazards is expected to further propel the growth of the biodegradable gloves market moving forward.”
As the global push for environmental responsibility intensifies, the biodegradable gloves market is poised to play a crucial role in advancing sustainable practices across various sectors. Businesses and consumers alike are recognizing the importance of making eco-friendly choices, and biodegradable gloves are at the forefront of this movement.
Key Takeaways: Biodegradable Gloves Market
- The global biodegradable gloves market is expected to experience significant growth, reaching an estimated USD 10.2 billion by 2032. This represents a CAGR of 23.0% from 2022’s USD 1.3 billion.
- The U.S. is the dominant player in North America, holding nearly 90% of the market share in 2021. This dominance is predicted to continue.
- The ban on powdered medical gloves, particularly in the U.S., is a major driver for the development and production of biodegradable alternatives.
- Germany is anticipated to exhibit strong growth (CAGR of 18.3%) in the European market due to its thriving medical tourism sector and focus on high-quality, affordable healthcare.
- Malaysia is a key player in South Asia, holding nearly 18% of the regional market share in 2021. The country’s glove production is expected to grow at a CAGR of 18.5%.
- Rising import tariffs on medical gloves from China are expected to benefit Malaysian producers, who are already expanding their capacities to meet global demand.
Explore Comprehensive Findings: Find the Full Report on the Biodegradable Gloves Market
Competitive Gloves:
- The SHOWA Group, in April 2022, asserted that the single-use nitrile gloves produced by it had received the US FDA 510(k) medical approval.
- Top Glove increased capacity to 70.1 Bn pieces in 2019 (from 60.5 Bn sets in 2018). The company, by the end of the year 2021, the organization intended increasing annual capacity by 30% (to 91.4 pieces).
- SHOWA 6100PF EBT gloves have achieved biodegradation close to 82% in merely 386 days as per ASTM D5526 certification of late.
Key Companies Profiled:
- SHOWA GROUP
- SW Safety Solutions Inc.
- Innovative Gloves Co., Ltd.
- Top Glove Corporation Bhd
- Hourglass International, Inc.
- Biogone
- Worldchamp (Huizhou) Plastics Products Co., Ltd
- SunEco Tech Ventures Private Limited
- Traffi | Hand Protection Specialists
- St. Marys Rubbers Pvt. Ltd.
- INSINC Products Ltd
Key Market Segments Covered in Biodegradable Gloves Industry Research:
By Product:
- Plain
- Textured
By Usage:
- Re-usable
- Single time use
By Size:
- Small
- Medium
- Large
- Extra Large
- Double Extra Large
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Academic and Research Institute
- Diagnostic Laboratories
- Home care settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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.
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