The global biodegradable gloves industry size is set to witness unprecedented growth, reaching a projected value of US$ 1.3 Billion in 2022 and soaring at a remarkable CAGR of 23.0% over the forecast period. By 2032, the market is anticipated to scale new heights, achieving a total size of US$ 10.2 Billion, according to a comprehensive study conducted by Future Market Insights (FMI).
The report highlights the dominance of single-time use gloves, which accounted for a substantial 93.3% market share in 2021. This underscores the increasing adoption of biodegradable gloves, driven by environmental consciousness, regulatory initiatives, and consumer preference for sustainable products.
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The surge in market value aligns with the growing awareness of environmental impact, propelling businesses and consumers alike towards eco-friendly alternatives. Biodegradable gloves, with their reduced ecological footprint, are witnessing heightened demand across various industries.
Industry Implications:
The findings from FMI’s study indicate a paradigm shift towards sustainable practices in the global gloves market. As biodegradable gloves gain prominence, businesses are urged to adapt to changing consumer preferences and align their offerings with eco-friendly solutions.
Manufacturers and suppliers are expected to explore innovative technologies and materials to meet the escalating demand for biodegradable gloves across various applications. Additionally, regulatory bodies are likely to play a pivotal role in shaping industry standards and encouraging the adoption of sustainable practices.
Key Takeaways from Biodegradable Gloves Market:
- North America holds the largest market share due to expansion of pharmaceuticals vertical on the continuous basis coupled with laws enacted by the governments regarding prohibition of latex and powdered gloves all across the US.
- Europe stands second on this count with Germany being the flagbearer. This could be attributed to the fact that the country is turning out to be a popular tourist hotspot. Also, cost-to-quality ratio over here is visibly low.
- The Asia-Pacific is expected to grow at the fastest rate in the biodegradable gloves market. Malaysia and China are ruling the roost. Riverstone, CarePlus, Kossan, Hartalega, and Top Glove are amongst the top 5 companies in Malaysia.
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Competitive Gloves:
- The SHOWA Group, in April 2022, asserted that the single-use nitrile gloves produced by it had received the US FDA 510(k) medical approval.
- Top Glove increased capacity to 70.1 Bn pieces in 2019 (from 60.5 Bn sets in 2018). The company, by the end of the year 2021, the organization intended increasing annual capacity by 30% (to 91.4 pieces).
- SHOWA 6100PF EBT gloves have achieved biodegradation close to 82% in merely 386 days as per ASTM D5526 certification of late.
“The realization that biodegradable gloves don’t cause health hazards is expected to drive the biodegradable gloves market going forward”, says an analyst from Future Market Insights.
Key Market Segments Covered in Biodegradable Gloves Industry Research:
By Product:
- Plain
- Textured
By Usage:
- Re-usable
- Single time use
By Size:
- Small
- Medium
- Large
- Extra Large
- Double Extra Large
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Academic and Research Institute
- Diagnostic Laboratories
- Home care settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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