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Global Wipes, Market Analysis, Industry Growth, Forecast 2024
Wipes, Market Opportunities, Global Insights
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According to The Business Research Company's, The wipes market size has grown strongly in recent years. It will grow from $21.18 billion in 2023 to $22.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased demand for specialty wipes and wet wipes, growth of end-user industries, increase in disposable income of consumers and removal of stringent regulations by the environment protection agency (epa) in the usa.
The wipes market size is expected to see strong growth in the next few years. It will grow to $30.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to rise in hygiene awareness among consumers, utilization of wipes in the health care and cleanroom industries and rising adoption of industrial wipes due to advances in technical features . Major trends in the forecast period include focusing on using eco-friendly raw materials in order to develop biodegradable wipes, investing in developing reusable wipes in order to promote sustainability and reduce wastage, investing in developing multi-surface wipes for commonly touched surfaces, developing disinfecting wipes to benefit from raised public awareness about the significance of adequate surface disinfection, developing toxin free baby wipes for the delicate skin of new born babies, investing in developing pocket anti-bacterial wipes which are convenient and can be carried outdoors to reduce infection and focusing on mergers and acquisitions to cater to the needs of various industries and to expand the market.
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Market Drivers and Trends:
The increased demand for specialty wipes and wet wipes is a key factor driving the growth of the wipes market. Specialty wipes have multiple applications, from household to industrial including aerospace, while, wet wipes can be used for various purposes such as cleansing, hygiene, and skincare among others. Wet wipes are one of the best hygienic options for cleaning babies as they are fragile on sensitive children's bodies. Manufacturers such as Pigeon offer products for children, such as anti-mosquito wet tissues. These mosquito repellent wet tissues and wipes are used to avoid mosquito bites and infectious diseases like malaria, dengue, and other infections. These wipes can be easily carried to any place and used for both babies and adults for their sanitizing and easy cleaning benefits. Companies including Petkin, Wetnaps, and other national wet wipes companies are selling wet wipes for even pets. Therefore, the increased demand for specialty wipes is expected to drive the wipes market growth.
The toxin free baby wipes is a key trend in the wipes market. The toxin free baby wipes are purest clinical grade filtered water wipes loaded with Aloe vera extracts and vitamin E. These baby water wipes are specially formulated with pH to match the delicate skin of new born babies. Though these wipes are often used for babies they can even be used by adults and elderly. Bey Bee, a progressive child care company brand, launched India's first toxin-free baby wipes. These toxin-free wipes are distributed in all prominent web stores such as amazon, flipkart, Snapdeal, Paytm, etc.
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Major Key Players of the Market:
Samsung Electronics Co Ltd, IFB Industries Ltd., Whirlpool Corporation, LG Electronics Inc., Robert Bosch GmbH, Midea Group, Panasonic Corporation, Haier Group Corp, Sharp Corporation, Onida, Godrej, BPL, Siemens AG, Little Swan, TCL Corporation, Sanyo Electric, Vega-Systems B.V, Landuwasco B.V., Bsh Hausgeräte Gmbh, Kohlhoff Hygienetechnik Gmbh & Co. Kg, Tps Industriewaschmaschinen, Und Anlagenbau Gmbh, Pulse Monitor, Rusolut Sp. Z O.O, SECTRON, General Electric (GE), Speed Queen, Amana Corporation, Kenmore, Maytag, Miele, Frigidaire, Asko Appliances, Ariston, Brandt Appliance, Crosley Company, Dyson, Electrolux, Fisher and Paykel, Hoover Limited, Magic Chef, H-Buster, Philco, Pioneer, Sony, Philips, AOC, Hisense, Advanced Electronics Company, Leap Technologies FZC, SMARTECH AV, CZ Electronics (Pty) Ltd, Avnet South Africa, TOSHIBA, 3M South Africa, Electrocomp (PTY) Ltd
Wipes Market 2024 Key Insights:
• The wipes market size is expected to see strong growth in the next few years. It will grow to $30.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Rising Demand For Specialty Wipes And Wet Wipes Fueling Wipes Market Growth
• Rising Trend Of Toxin-Free Baby Wipes In The Wipes Market
• Asia-Pacific was the largest region in the wipes market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company ( https://www.thebusinessresearchcompany.com ) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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