Wet Wipes Market Size Worth $29.7 Billion By 2030 | CAGR 3.6%
Wet Wipes Market Growth & Trends
The global wet wipes market size is expected to reach USD 29.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.6% from 2022 to 2030. Increasing consumer awareness of personal hygiene, as well as their proclivity to spend on products that aid in the proclamation of cleanliness and disinfection, is expected to drive market demand over the forecast period. In times of economic distress, consumers have grown more mindful of their spending and have opted for low-cost and inexpensive products rather than high-priced specialty products. Because the product is in high demand, these factors have had a beneficial impact on market growth.
The expansion of middle-income age groups in emerging economies such as China and India is expected to play a key role in encouraging manufacturers to establish new tie-ups with both, offline and online channels over the next few years. In addition, a variety of wet wipes with unique constituents are available in the market, which is suitable for various purposes. For instance, customers who have dry skin issues are recommended rosewater-based wipes for proper hydration and water retention. These developments in product offerings are expected to drive the market.
The baby wipes segment dominated the market and accounted for the largest revenue share of 30.1% in 2021. Millennial parents are concerned about the baby’s sensitive skin, especially the diaper area. Therefore, to avoid rashes, they prefer using baby wipes because of the associated benefits, such as improved absorbent fabrics, which help in cleaning and reducing bacteria on the baby’s skin, and reduced risk of infection and skin irritation.
The role of e-commerce is integral in this industry as online platforms are known to attract a larger set of consumers. As this trend holds the potential to change the dynamics of the market, most small- and medium-sized manufacturers have been trying to advertise, promote, and sell their products online as their first step. The market is highly competitive and dominated by large multinational manufacturing companies. The players face intense competition, especially from the top players in the market, as they have a large consumer base, strong brand recognition, and vast distribution networks.
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Wet Wipes Market Report
Wet Wipes Market Report Highlights
- North America dominated the market and is expected to witness a CAGR of 3.3% over the forecast period. The major factors driving this regional market are the changing lifestyles of the people, an increase in the number of working women, rising online retailing trends, and increasing disposable income
- The intimate wipes segment is expected to register the fastest CAGR of 4.1% from 2022 to 2030. Worldwide, there has been a large increase in the number of women entering the workforce, which has increased their purchasing power and raised their awareness of personal hygiene, ultimately driving the market
- The non-woven segment dominated the market and accounted for the largest revenue share of 81.3% in 2021 owing to softness and better absorption ability