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.
Omnichannel retailing is a growing trend among industries in different countries globally. Consumer wet wipes manufacturers are focusing on distribution of their products in different physical stores including convenience stores, supermarkets, department stores, hypermarkets, and pharmacy stores. Online retailing, with internet as its backbone, is expected to observe proliferation in the near future, which in turn will provide a boost to consumer wet wipes sales worldwide.
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Portability and convenience associated with the consumer wet wipes packaging are considered to be critical factors impacting their purchases. Compact packaging, for example – travel packs, enhance portability and reduce the overall price of the product. Another popular trend being observed in the global consumer wet wipes market is soaring adoption of specialty wipes. These wipes can be used by humans, and for pets. Key companies manufacturing consumer wet wipes are introducing products for industrial applications, which include cleaning & protecting the workers’ hands, machinery, and tools, in order to maintain hygiene at workplaces.
4 Key Future Prospects of Consumer Wet Wipes Market for Forecast Period 2017-2026 (In Terms of Volume)
- 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.
- 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.
- 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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- Based on sales channel, modern trade and departmental stores are likely to spearhead the global consumer wet wipes market, with sales collectively pegged to reach approximately 190,000 thousand units by 2026-end. Online stores are also expected to account for a large chunk of the market share during 2017 to 2026. These three sales channels are projected to exhibit a parallel rise in the market through 2026.
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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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