The global wipes market possesses a competitive vendor landscape. Key players within the market are focusing largely on innovation and development of their product portfolio, according to a recent research report by Transparency Market Research (TMR). In order to survive competition, players are also anticipated to strive for geographical expansion and to achieve this most of them are participating in mergers and acquisitions, partnerships, and collaborations.
Leading players within the market are strategically tapping on emerging economies. Some of the leading players within the global wipes market are: S. C. Johnson & Son, Kimberly-Clark Corporation, Procter & Gamble, E.I. du Pont de Nemours, and PT. Asia Pacific Fortuna Sari.
According to TMR, the global wipes market will be worth US$44,580.7 by 2025, expanding at a CAGR of 4.1% between 2017 and 2025. On the basis of application, the household sector is leading and is anticipated to be worth US$44,580.7 by 2025. By geography, Asia Pacific will be a promising market for wipes. It is currently leading and is anticipated to continue to do so for the rest of the forecast period.
Rapid industrialization and urbanization are some of the factors attributed to the growth of the Asia Pacific wipes market. By product type, the demand for disposable wipes will be greater than non-disposable wipes. The disposable wipes segment is estimated to exhibit a 6.1 CAGR between 2017 and 2025.
Demand from Households for Wipes to Increase as it Reduces Manual Labour
The demand for wipes is increasing majorly on account of the convenience they offer across several applications such as in households for cleaning rather than mops and liquids, as it is easier. The efficiency and reduced manual labor in doing the job makes wipes a highly preferred item for cleaning. Besides the household application, wipes are also used in consumer applications.
Growing Concerns regarding Cross-contamination to Boost Demand for Disinfecting Wipes
Modernization and growing concerns regarding cross contamination from hospital acquired infections are some of the other reason boosting the demand for wipes. Harmful food bacteria such as E. coli has also boosted the sales of disinfecting wipes across health facilities, commercial spaces, manufacturing plants, and households. Wipes are largely used as they reduce the need for water and also saves time.
On the other hand, the use of non-biodegradable materials for manufacturing disposable wipes has caused it to come under the scrutiny of environmentalists. Many nations with strict policies and protection norms with regards to environment have started demanding products that are bio-based.