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Sales of Wet Wipes to Rise at 7.6% CAGR through 2031 As Awareness Regarding Hygiene and Sanitation Continues Increasing: Future Market Insights
Considering this, ESOMAR-certified consulting firm Future Market Insights (FMI) has projected the global wet wipes market to reach a valuation of US$ 3.7 Bn in 2021. Expanding at a robust 7.6% CAGR, the market is poised to surpass a valuation of US$ 8.0 Bn by the end of 2031.
Wet wipes, or wet towels are convenient to use and are easily available, making them one of the best-selling personal hygiene products. Steered by the high demand for wet wipes, manufacturers are launching a wide array of products ranging from baby wipes, makeup wipes to disinfectant wipes, and wound care wipes. These factors will create lucrative growth prospects in the forthcoming years.
Market players are launching eco-friendly and biodegradable variants of wet wipes made from wood pulp and cotton as a replacement of synthetic fibers, which in turn is driving sales of wet wipes.
Rising prevalence of health-related disorders in the geriatric population, such as incontinence-associated dermatitis (IAD) and catheter-associated urinary tract infection (CAUTI) is spurring demand for wet wipes, particularly in hospitals.
Since wet wipes effectively serve the purpose of maintaining hygiene standards and removal of germs, dirt, and dust build-up on the skin and other physical surfaces, their applications are projected to continue gaining traction over the forecast period.
Besides this, the emergence of local and small players, innovative product development, smart marketing strategies adopted by leading manufacturers, and commercialization of wet wipes are improving growth prospects for the global wet wipes market.
The FMI study projects the U.S. to lead the North America wet wipes market. Rapid expansion of distribution channels, coupled with increasing per capita healthcare expenditure are anticipated to bode well for the wet wipes market in the U.S.
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Leading players operating in the global wet wipes market are aiming to expand their global footprint through strategic collaborations, mergers, and acquisitions. In addition to this, launching innovative products, research, and development and strengthening distribution channels will remain key growth strategies among players. For instance:
The latest market study on the wet wipes market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global wet wipes market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai , and has delivery centers in the UK, U.S. and India . FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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