Global Wet Wipes market is expected to grow at a CAGR of 8% and is anticipated to reach around USD 24.3 Billion by 2026.
NEW YORK,, UNITED STATES, May 18, 2020 /EINPresswire.com/ — According to the research report, the global Wet Wipes market in 2019 was approximately USD 14 Billion. The market is expected to grow at a CAGR of 8% and is anticipated to reach around USD 24.3 Billion by 2026.
The wet wipes are basically cleansing means used on an extensive scale due to its convenience and effectiveness. The portability of the wet wipes makes it a necessary commodity that people carry to maintain and raise personal and environmental hygiene standards and also to lower the risk of cross-contamination. Additionally, the demand for improving the quality of life of women helps increase the demand for wet wipes.
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The rising concerns over hygiene coupled with the increasing requirement for multi-functional wet wipes are the primary factors anticipated to propel the global Wet Wipes market. The lower cost and demand for high performance and convenient product is likely to influence the growth of the market during the forecast period. Additionally, the ease use, high biodegradability, supreme efficiency, and increasing consumer demand will further help surge the growth of the market. In addition to this, the stringent government regulations regarding hygiene maintenance will further aid in the Wet Wipes market expansion. One of the key factors propelling the growth of the global Wet Wipes market is a growing health and hygiene-related awareness among the populace. The increasing application of wet wipes in the residential, personal care, and commercial sector is estimated to boost the market growth. Furthermore, the escalating infant population, urbanization, and high disposable income amid the females are some of the reasons accelerating the global Wet Wipes market. Apart from this, the less time for hygiene owing to the day to day activities in the hectic lifestyle is predicted to help the market growth. Moreover, the high demand for flavored, biodegradable, and alcohol-free products will also help surge the global Wet Wipes market growth. However, the increasing cases of skin problems owing to the chemical contents in the wet wipes and the high cost of the products are estimated to hamper the Wet Wipes market growth.
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Market Segment Dominance:
Baby Wipes accounts for the largest market share in the global Wet Wipes market
Baby wipes is expected to hold the largest market share in the global Wet Wipers market owing to the rapid urbanization and increasing infant population offer significant growth potential to the Wet Wipes market. The fluctuating prices help many companies enter the market and thereby increase the baby wipes supply and demand across the globe.
Convenience stores category is anticipated to hold the majority of the market share in the Wet Wipes market
The convenience stores category is projected to dominate the global Wet Wipes market during the forecast period owing to the easy availability of the wet wipes in the convenience stores and the presence of a large number of these stores in various regions. Furthermore, the surging preference of convenience stores among the consumers for the purchase of daily goods is resulting in the maximum market share for convenience stores.
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North America is expected to dominate the global Wet Wipes market during the forecast period
North America is emerging as the highest market shareholder in the global Wet Wipes market. The growth is attributed to the rising demand for wet wipes for hygiene and household works. The high demand for wet wipes in the U.S. and increasing demand for hygiene is anticipated to propel the market in this region. Apart from this, the water scarcity in the various regions of the U.S. and rising demand for wipes for cleaning in restaurants, hotels, and washrooms will bolster the Wet Wipes market in North America.
Key Market Players:
Some of the key players of the global Wet Wipes market include Unilever Group, Henkel AG & Co. KGaA, 3M Co., S. C. Johnson & Son, Inc., Johnson & Johnson Services Inc., Kimberly-Clark Corp., Medline Industries, The Procter & Gamble Co., Essity Aktiebolag, Pluswipes, The Clorox Co., Unicharm Corp., Edana, Edgewell Personal Care Company, Diamond Wipes, Honest Company, and Rockline Industries.
This report segments the global Wet Wipes market as follows:
Global Wet Wipes Market: Product Type Segmentation Analysis
Facial & Cosmetic Wipes
Hand & Body Wipes
Global Wet Wipes Market: Distribution Channel Segmentation Analysis
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Source: EIN Presswire