Baby Wipes Market Touching Impressive Growth by 2027, Fortune Business Insights™
The global baby wipes market size
is expected to gain momentum by reaching USD 6.57 billion by 2027 while
exhibiting a CAGR of 3.1% between 2020 and 2027. The growth is ascribable to
factors such as the increasing prevalence of baby skin infections and the high
spending power of the consumers that is propelling the demand for innovative
baby wipes globally. This information is published by Fortune Business
Insights, in its latest report, titled, “Baby Wipes Market Size, Share &
Industry Analysis, By Product Type (Wet and Dry), Packaging (Pouch/Box and
Tube/Tin), Distribution Channel (Hypermarkets & Supermarkets, Pharmacy,
Online Stores, and Others), and Regional Forecast, 2020-2027.” The report
further mentions that the market stood at USD 5.54 billion in 2019.
Stockpiling
of Consumer Goods Due to COVID-19 to Favor Market Growth
Uncertainty over the future effects of the global pandemic has triggered
fear amongst the consumers that are stockpiling essential goods across the
globe. Owing to phases of lockdown, people want to ensure adequate supplies to
avoid stepping out of the homes. This has led to a major spike in revenue of
the consumer goods that include baby care products. This is likely to boost the
adoption of baby wipes in the near future.
Baby wipes are sanitary products majorly adopted to cleanse the sensitive
skin of infants. Owing to the growing demand for safe and sustainable baby
products, leading manufacturers are focusing on developing eco-friendly
products with sustainable formulations that suit the sensitive skin of the
baby.
What
does the Report Provide?
The
market report provides an in-depthanalysis of several factors such as the key
drivers and restraints that will impact growth. Additionally, the report
provides insights into the regional analysis that covers different regions,
which are contributing to the growth of the market. It includes the competitive
landscape that involves the leading companies and the adoption of strategies by
them to announce partnerships,introduce new products, and collaboration that
will further contribute to the growth of the market. Moreover, the research
analyst has adopted several research methodologies to extract information about
the current trends and industry developments that will drive the market growth
between 2020 and 2027.
DRIVING
FACTORS
Increasing
Prevalence of Baby Skin Infections to Accelerate Market Growth
According to the Diaper Dermatitis Prevalence and Severity survey,
conducted by the U.S. National Medicine of Library, in December 2019, about
14.9% of the infant population in Germany were found to be suffering from
diaper rash problems. In addition to this, increasing incidence of skin
infections such as eczema, diaper rashes, acne, and other skin allergies is
leading to the growing adoption of superior quality baby wipes. The high
spending capacity of consumers is further leading to the surging demand for
advanced baby care products that will bode well for the global baby wipes
market growth during the forecast period.
SEGMENTATION
Wet Segment
Held 58.24% Market Share in 2019
The wet segment, based on the product, held a market share of about
58.24% in 2019 and is expected to gain momentum owing to the high adoption of
disinfectant baby wet wipes to control viral infection across the globe.
REGIONAL
INSIGHTS
Increasing
Adoption of Disposable Hygiene Products in North America to Surge Demand
Among all the regions, North America is expected to remain at the
forefront and hold the highest position in the global baby wipes market during
the forecast period. This is attributable to the increasing adoption of
disposable hygiene products that is likely to propel the demand for innovative
baby wipes in the region. North America stood at USD 2.00 billion in 2019.
The market in Europe is anticipated to showcase significant growth in the
forthcoming years. This growth is ascribable to factors such as the presence of
established players such as Codi Group, Beiersdorf AG, and Rockline, among others that are
focusing on developing advanced baby wipes products in the region between 2020
and 2027.
COMPETITIVE LANDSCAPE
Product Launches by Major Companies to Strengthen
Their Market Positions
The global
baby wipes market comprises small, medium, and large companies striving to
maintain their position by introducing innovative baby care products to cater
to the growing consumer demands. Moreover, adoption of strategies such as
merger and acquisition, facility expansion, and partnership by other key
players will contribute to the market growth.
Industry Development:
·
October 2020 - Niki’s Natural Wipes, an Australian baby products manufacturer, announced
the launch of a revolutionary natural baby wipes product specially formulated
with antiviral and antibacterial manuka honey ingredients. The launch is
expected to strengthen its position in the U.S.
List of the
Companies Profiled in the Global Market for Baby Wipes:
·
P & G Co. (Ohio,
U.S.)
·
Johnson & Johnson
(New Jersey, U.S.)
·
Kimberly Clark Corporation (Texas, U.S.)
·
Pigeon Corporation
(Tokyo, Japan)
·
Hengan International
Group Company Limited (Quanzhou, China)
·
Unicharm Corporation
(Tokyo, Japan)
·
CPMC Holdings Ltd.
(Santiago, Chile)
·
Nice-Pak International Limited (New York, U.S.)
·
Beiersdorf AG (Hamburg,
Germany)
·
ALBAAD (Masu’otItzhak,
Israel)
Information Source:
https://www.fortunebusinessinsights.com/baby-wipes-market-104550
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