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, and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 5.54 billion in 2019.
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.
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 their homes. This has led to a major spike in the revenue from consumer goods that including baby care products. This is likely to boost the adoption of baby wipes in the near future.
Fortune Business Insights™ lists out all the baby wipes market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Procter Gamble 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’ot Itzhak, Israel)
What does the Report Provide?
The market report provides an in-depth analysis 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.
Key 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.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/baby-wipes-market-104550
