The global baby wipes market sizeis expected to gain momentum by reaching USD 6.57 billion by 2027 whileexhibiting a CAGR of 3.1% between 2020 and 2027. The growth is ascribable tofactors such as the increasing prevalence of baby skin infections and the highspending power of the consumers that is propelling the demand for innovativebaby wipes globally. This information is published by Fortune BusinessInsights, in its latest report, titled, “Baby Wipes Market Size, Share &Industry Analysis, By Product Type (Wet and Dry), Packaging (Pouch/Box andTube/Tin), Distribution Channel (Hypermarkets & Supermarkets, Pharmacy,Online Stores, and Others), and Regional Forecast, 2020-2027.” The reportfurther mentions that the market stood at USD 5.54 billion in 2019.
Stockpilingof Consumer Goods Due to COVID-19 to Favor Market Growth
Uncertainty over the future effects of the global pandemic has triggeredfear amongst the consumers that are stockpiling essential goods across theglobe. Owing to phases of lockdown, people want to ensure adequate supplies toavoid stepping out of the homes. This has led to a major spike in revenue ofthe consumer goods that include baby care products. This is likely to boost theadoption of baby wipes in the near future.
Baby wipes are sanitary products majorly adopted to cleanse the sensitiveskin of infants. Owing to the growing demand for safe and sustainable babyproducts, leading manufacturers are focusing on developing eco-friendlyproducts with sustainable formulations that suit the sensitive skin of thebaby.
Whatdoes the Report Provide?
Themarket report provides an in-depthanalysis of several factors such as the keydrivers and restraints that will impact growth. Additionally, the reportprovides insights into the regional analysis that covers different regions,which are contributing to the growth of the market. It includes the competitivelandscape that involves the leading companies and the adoption of strategies bythem to announce partnerships,introduce new products, and collaboration thatwill further contribute to the growth of the market. Moreover, the researchanalyst has adopted several research methodologies to extract information aboutthe current trends and industry developments that will drive the market growthbetween 2020 and 2027.
DRIVINGFACTORS
IncreasingPrevalence 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, about14.9% of the infant population in Germany were found to be suffering fromdiaper rash problems. In addition to this, increasing incidence of skininfections such as eczema, diaper rashes, acne, and other skin allergies isleading to the growing adoption of superior quality baby wipes. The highspending capacity of consumers is further leading to the surging demand foradvanced baby care products that will bode well for the global baby wipesmarket growth during the forecast period.
SEGMENTATION
Wet SegmentHeld 58.24% Market Share in 2019
The wet segment, based on the product, held a market share of about58.24% in 2019 and is expected to gain momentum owing to the high adoption ofdisinfectant baby wet wipes to control viral infection across the globe.
REGIONALINSIGHTS
IncreasingAdoption of Disposable Hygiene Products in North America to Surge Demand
Among all the regions, North America is expected to remain at theforefront and hold the highest position in the global baby wipes market duringthe forecast period. This is attributable to the increasing adoption ofdisposable hygiene products that is likely to propel the demand for innovativebaby 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 theforthcoming years. This growth is ascribable to factors such as the presence ofestablished players such as Codi Group, Beiersdorf AG, and Rockline, among others that arefocusing on developing advanced baby wipes products in the region between 2020and 2027.
COMPETITIVE LANDSCAPE
Product Launches by Major Companies to StrengthenTheir Market Positions
The globalbaby wipes market comprises small, medium, and large companies striving tomaintain their position by introducing innovative baby care products to caterto the growing consumer demands. Moreover, adoption of strategies such asmerger and acquisition, facility expansion, and partnership by other keyplayers will contribute to the market growth.
Industry Development:
· October 2020 - Niki’s Natural Wipes, an Australian baby products manufacturer, announcedthe launch of a revolutionary natural baby wipes product specially formulatedwith antiviral and antibacterial manuka honey ingredients. The launch isexpected to strengthen its position in the U.S.
List of theCompanies 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 InternationalGroup 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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