August 03, 2022 11:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.

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NEWARK, Del, Aug. 03, 2022 (GLOBE NEWSWIRE) -- The wet wipes market is anticipated to create lucrative growth throughout the forecast years from 2021 to 2031. According to the estimation showcased by Future Market Insights, the wet wipes market revenue totaled US$ 3.7 Bn in 2021 and is expected to cross US$ 8.0 Bn by 2031, growing at a CAGR of 7.6% between 2021- 2031.

Wet wipes are commonly known as wet towels or disinfecting wipes. They usually serve the purpose of keeping hands and face clean without any dust or germs. Owing to its multiple usages at any given point of time, availability of a range of variety in terms of fragrance, convenient handling, usefulness in serving various purposes such as make-up removal, cleansing sensitive skin of baby, presence in every other store and many others is driving the current sales figures.

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As per the estimations predicted by Future Market Insights (FMI), the sales of wet wipes have seen an opulent growth at a CAGR of 6.1% between 2016 and 2020. Owing to the increased adoption of healthcare and hygiene practices among the aging population, the wet wipes market is anticipated to h. showcase phenomenal growth throughout the forecast years of 2021- 2031.

With surging awareness about health and hygiene, the government is implementing various healthcare programs. Over the past few years, a significant rise in the number of wet wipes manufacturing companies has significantly increased with a variety of wet wipes options. Surging investments in technological advancements are expected to bolster sales in the global wet wipes market.

Future Market Insights predicts the global wet wipes market to grow at an impressive CAGR of 7.6% over the decade. The growth is attributed to major companies which are actively investing in new product developments and participating in acquisitions and mergers.

Other key factors encouraging market growth include expansion and product launches. Active engagement of companies in strategizing business opportunities through acquisitions and partnerships in order to strengthen their portfolio is likely to boost the market in the coming years.

Manufacturing of environmentally safe or biodegradable wipes that come within a huge range of fragrances is, yet another tactic undertaken by companies to attract more customers.

As per several medical studies, it is determined that the application of wet wipes intend to offer a solution for maintaining skin hygiene among CAUTI or IAD patients, and for encouraging female hygiene, the market will witness increasing growth worldwide.

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Essity Aktiebolag (publ), Kimberly-Clark, Procter & Gamble, Cardinal Health, Medtronic, Stryker, Coloplast, Hindustan Unilever Ltd., Medline Industries Inc., ConvaTec Inc., The Himalaya Drug Company, Domtar Corporation, Johnson & Johnson Private Limited, Hollister Incorporated, Godrej Consumer Products Limited. are some of the key companies profiled in the full version of the report.

Manufacturers of wet wipes are primarily aiming to carry out strategic expansions through mergers and acquisitions, launching innovative products, and collaborations with other manufacturers and distributors to consolidate growth in a competitive market.

More Insights into the Wet Wipes Market

According to a recent analysis, North America leads the global wet wipes market in terms of revenue, while the United States (US) market is expected to account for over 80% of the North American market share in 2021. It is anticipated to grow at a CAGR of over 6% during the forecast period.

The U.S is anticipated to dominate the North American market due to the increasing awareness in the healthcare sector. The rapid development of e-commerce sites, various healthcare-related awareness programs initiated by government and organizations, and the focus on enhancing healthcare services by healthcare providers will drive the growth of the wet wipes market in the U.S.

Germany is expected to dominate the European market as it accounted for over 23% of the global market share in 2021. Due to the surge in hygiene-conscious people, compulsory health insurance policies implemented by the government, and equal right to medical care and wages to be continued even during illness, irrespective of the income of an individual are some of the factors that are helping wet wipes manufactures to expand over the forecast period.

The East Asian market for wet wipes is expected to exhibit a 9.1% CAGR across 2031, with China emerging dominant in this region. China is expected to account for nearly 40% of the East Asia market in terms of revenue in 2021.

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Wet wipes Market by Category

    3.1. Key Trends Impacting the Market

    4.2. Forecast Factors - Relevance & Impact

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