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Global Household Wipes Market increased awareness regarding cleanliness and hygiene in North America contributes to higher share to the market | Top Companies 3M Company, Kimberly-Clark Corporation, Kao Corporation

04-30-2019 03:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insight

Household Wipes

Household Wipes

Global Household Wipes Market – Insights
Household wipes are used to clean, polish, and disinfect various surfaces in a house. Household wipes can be used to clean kitchen counters, window surfaces, glass, appliances, and tiles in toilets, floors, metal surfaces, wood surfaces, and furniture. Wipes can be of two types, antibacterial wipes and non-antibacterial wipes. These household care products keep the house neat and clean. Thereby they lower the risk of illness and also help to enhance the surface appearance.

Global household wipes market was pegged at 542.6 Mn units in 2017, and is projected to increase to 795.4 units Mn by 2025, witnessing a CAGR of 5.1% during the forecast period.

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Major players operating in the global Household Wipes market include, S. C. Johnson & Son, Inc., Procter & Gamble Co., Nice-Pak Products Inc., The Clorox Company, Weiman Products LLC, Colgate-Palmolive Company, Reckitt Benckiser Group plc. Amway Corporation, 3M Company, Kimberly-Clark Corporation, Kao Corporation, and Rockline Industries.

Among product types, disinfecting wipes segment accounted for the largest market share in the global household wipes market, owing to their hygiene providing nature. Disinfectants contain antimicrobial agents such as pine oil, sodium hypochlorite, quaternary ammonium compounds or phenols, which kills bacteria and viruses on surfaces. Disinfecting wipes segment in the global household wipes market was valued at US$ 1535.7 Mn in 2017, and is projected to increase to US$ 2480.0 Mn by 2025, witnessing a CAGR of 6.3% during the forecast period.

Among region, North America is expected to dominate the global household wipes market. According to a report of American Cleaning Institute (October 2018), the cleaning products industry has impacted the U.S. economy by US$ 59.1 billion in 2016. Moreover, 78% of U.S. residents prefer ‘Light cleaning’ i.e. a general surface-level cleaning of their household. Increasing awareness regarding cleanliness and hygiene in North America contributes to higher share to the global household wipes market.

However, lack of hygiene awareness in few countries such as Qatar, Pakistan, Indonesia, Ghana, Syria, and Sri Lanka is restraining market growth. Lack of hygiene is the major cause of various diseases. According to the National Center for Biotechnology Information (NCBI), diarrheal diseases cause around 1.6 to 2.5 million deaths annually, which is result of unhygienic conditions. Therefore, lack of hygiene awareness in few countries may hamper the global household wipes market growth.

Asia Pacific is the fastest growing region for household wipes market, owing to emerging economies such as China and India in this region. According to India Brand Equity Foundation Report (IBEF) on Fast Moving Consumer Goods (FMCG), July 2018, Indian FMCG sector is forecasted to report revenue growth of about 11-12 per cent in FY19 from 8 per cent in FY18. Moreover, revenues of Indian FMCG sector are estimated to grow from US$ 49 billion in 2016 to US$ 103.7 billion in 2020. Therefore, growth of FMCG sector is expected to propel the growth of household wipes market.

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Players operating in the global household wipes market are adopting various growth strategies to cater to increasing demand for Household Wipes. For instance, Household wipes are one-time use products and decomposition of these wipes are difficult. Therefore, companies are striving to manufacture eco-friendly and chemical free products.

Furthermore, various key players are focused towards increasing quality of household care products, which is a key factor driving growth of household wipes market. For instance, in 2017, Solugen, a biotechnology company launched ‘Ode To Clean’, the first line of cleaning products made of bioperoxide, one of the purest forms of hydrogen peroxide made 100% from plants. Ode to Clean offers consumers a safe, powerful, and convenient way to clean without relying on harsh, petroleum-based chemicals, which exist in all cleaners today.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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