|05-25-2018 02:59 PM CET - Business, Economy, Finances, Banking & Insurance||
Consumer Wet Wipes Market Estimated for Steady Growth at a CAGR of 4.9% during the Forecast Period 2017-2022
Press release from: Fact.MR
Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of consumer wet wipes market. The study is titled as “Consumer Wet Wipes Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global consumer wet wipes market.
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According to a recent Fact.MR research report, a steady 4.3% volume CAGR will be exhibited by the global consumer wet wipes market during the forecast period, 2017 to 2026. Roughly US$ 22,500 Mn worth of consumer wet wipes are estimated to be sola around the world by 2026-end.
3 Key Future Prospects of Consumer Wet Wipes Market for Forecast Period 2017-2026 (In Terms of Volume)
1. Europe will remain the largest market for consumer wet wipes, trailed by Asia-Pacific excluding Japan (APEJ) and North America. However, the market in APEJ is projected to reflect the fastest expansion through 2026. These three regions will collectively account for over 75% share of the market by 2026-end. Japan will prevail as the least lucrative region for growth of the consumer wet wipes market.
2. Cosmetic wipes and baby wipes are anticipated to remain top-selling products in the market. Sales of cosmetic wipes and baby wipes are together forecast to exceed 290,000 thousand units by 2026-end. However, sales of intimate wipes and household wipes are projected to exhibit a faster expansion compared to that of cosmetic wipes and baby wipes through 2026.
3. Although spunlace technology used for production of consumer wet wipes is slated to exhibit the lowest CAGR, it will continue to account for the largest share of the market through the forecast period. Airlaid technology, slated to register the fastest expansion, is also expected to remain a lucrative technology for manufacturing consumer wet wipes.
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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 lion’s 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 in the global market for consumer wet wipes is intense, where vendors are adopting many competitive strategies including mergers & acquisitions, research & development, and product innovation. Vendors in the market are also making huge investments in potential markets for expanding their businesses. Additionally, rising product visibility on digital platforms and the social media, in tandem with product portfolio expansion is expected to assist vendors in remaining competitive in the market. The report profiles key players impacting the global consumer wet wipes market’s growth, which include Riway Group, Progressive Products, Premier Care Industries, Cotton Babies Inc., Hengan International Group Company Limited, Sebapharma GmbH & Co. KG, Himalaya Wellness, First Quality Enterprises, Svenska Cellulosa Aktiebolaget (SCA), and Procter & Gamble (P&G).
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Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods market reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.
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