COVID-19 to have a Positive Impact on Overall Wet Wipes Market Growth
A swelling wave of health consciousness among the global population, rising disposable income, and change towards a hygienic lifestyle have boosted the demand for disposable hygiene products. While wet wipes belong to the category, their use is restricted to cleaning the skin. In recent times, the product has gained prominence as a necessary sanitary disinfectant.
Wet wipes contain a low concentration of hydrogen peroxide giving them a wider sterilization spectrum, enabling bacteria elimination from multiple surfaces. Wet wipes are available in the market for personal, household, and commercial purposes. These are used in domestic spaces for quick and easy cleaning required throughout the day. Thus, these factors are contributing to the global demand for wet wipes over the forecast period of 2021 to 2025.
COVID-19 has pushed governments and public health authorities to issue advice and guidelines for households to maintain personal hygiene standards. With the ongoing Coronavirus pandemic, consumers will continue to spend on antibacterial and disinfectant products. Cleanliness and sanitization have come to be synonymous with wellness, supporting the overall market growth.
Interestingly, the report observes that the pandemic has created new growth opportunities for wet wipes manufacturers. Throughout 2020, panic among the consumers related to disruption in the supply of disinfectant products such as sanitizer and wipes created shortage due to hoarding. Manufacturers are positively reacting to the opportunity with an increased production capacity. For instance, The Clorox Company, one of the consumer goods conglomerate, announced in Feb 2021 that in order to meet the COVID-19 demand the company is producing 1.5 million canisters of disinfecting wipes per day. In the last quarter, they were producing about 1 million canisters a day. In the fiscal year 2021, the company expects sales to increase between 10% and 13% up from prior projections of 5% to 9%.
Threefold Environmental Impact of Wet Wipes Restrains Market
However, the problems with wet wipes related to environmental impact are threefold. The disposable wet wipes discarded in the bins end up in landfills or get incinerated, contributing to carbon emissions. While those that are flushed clog up in pipes and sewers. In addition, the material forming the wipe is a non-woven blend of natural and synthetic fibres and is likely to contain polypropylene polyester or polyethylene. Single-use plastic is a global issue contributing to have a negative impact on the environment. Government bodies across the globe have designed different framework in order to control the single-use plastic. These factors may restrain the wet wipe market growth over the forecast period.
Surface Wet Wipes to Reflect Substantial Growth in the Near Future
The global wet wipes market is segmented on the basis of product type, application, sales channel, and region. Based on product type, the facial wet wipes and baby wipes segment are estimated to collectively account for the largest value & volume share. Increased usage of baby wipes coupled with rising demand of wet wipes by the female demographic is supporting the market growth.
Meanwhile, surface wet wipes expected to attain a surge in demand over the forecast period. Pandemic has created the need of disinfectant surface wipes to ensure all surfaces get cleaned often. This is expected to support the segment growth in the near future.
Based on sales channel, the online segment is expected to gain a significant incremental dollar opportunity by 2025. Higher convenience factor and the pandemic effect have led to a large chunk of consumers shifting to online shopping, which has attributed to the growth of the online segment. Efforts to iron out challenges in e-tailing with effective logistics control will also promote the online segment for wet wipes. Analysts anticipate the trend to continue in the forthcoming years as well.
Rise in Standard of Living Directly Proportional to Hygienic Lifestyle Drives Demand in Asia Pacific
Globally, Europe and North America are collectively expected to hold the largest share of the pie. It has been observed that the UK alone uses more than 10 billion wet wipes annually. Increased usage of wet wipes for babies and personal hygiene coupled with rising penetration of flushable wipes is to support market growth in the region.
On the other hand, Asia Pacific is expected to register a relatively high CAGR over the forecast period. Rising urbanization, increasing disposable income, and the raging pandemic effect have created a surge in consumers to maintain a healthy and hygienic lifestyle. The overall improvement in the standard of living is expected to push this region to consume exponential wet wipes as they offer easy ways of cleaning multiple surfaces. Asia Pacific also stands to benefit with a growing number of players making their way into the wet wipes market. For instance, in 2020, India-based consumer goods giant, ITC Limited, ventured into the category of wet wipes with the launch of multi-purpose germ protection wipes under the Savlon brand.
Global Wet Wipes Market: Key Players
Some of the major players considered in the report include Kimberly-Clark, ITC limited, Johnson & Johnson, Unicharm Corp, The Clorox Co., Beiersdorf (Nivea), 3M, Rockline Industries Inc., Hengan International Group Company Ltd, and Reckitt Benckiser Group plc.
Key Elements Included In The Study: Global Wet Wipes Market
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