The wet wipes market has generated an impressive USD 4.3 billion in revenue in 2023, with expectations for substantial growth in the coming decade. According to industry forecasts, the market is projected to expand to USD 9.22 billion by 2033, reflecting a compound annual growth rate (CAGR) of 7.8% from 2023 to 2033.
This significant growth is driven by the increasing use of wet wipes for hygiene purposes, especially in regions where access to clean water is limited. The convenience and effectiveness of wet wipes in preventing infections and maintaining cleanliness, coupled with their disposable nature, have led to a surge in consumer demand.
The wet wipes market is benefiting from a broader acceptance of these products across various applications, including personal hygiene, household cleaning, and medical use. As consumers continue to prioritize convenience and hygiene, the market is expected to see continued expansion and innovation.
Market competitors are introducing eco-friendly and biodegradable Wet Wipes produced from wood pulp and cotton as an alternative for synthetic fibres, which is driving wet wipe sales.
The rising prevalence of health-related illnesses in the elderly, such as incontinence-associated dermatitis (IAD) and catheter-associated urinary tract infection (CAUTI), is driving up demand for Wet Wipes, particularly in hospitals.
Wet Wipes are expected to gain traction over the forecast period because they efficiently serve the objective of maintaining hygiene standards and removing germs, dirt, and dust build-up on the skin and other physical surfaces.
In addition, the rise of local and small players, creative product development, clever marketing strategies implemented by top manufacturers, and commercialization of Wet Wipes are increasing the global Wet Wipes market’s growth prospects.
The FMI study projects the US 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.
“Expansion of the ecommerce sector is resulting in easy availability and increasing sales of Wet Wipes across the globe. In addition to this, government-backed healthcare reimbursement plans will continue driving sales of Wet Wipes over the forecast period,” says the FMI analyst.
Key Takeaways:
- Incontinence wipes are expected to account for roughly 27% of the worldwide Wet Wipes market share during the forecast period.
- The hospital segment is expected to increase at a 6% CAGR through 2031 in terms of end users.
- It is estimated that the United States accounts for more than 80% of the North American Wet Wipes market.
- Germany will dominate the European Wet Wipes industry in 2021, accounting for 23% of the market.
- China is expected to emerge as a profitable market, accounting for 40% of the East Asian Wet Wipes market share.
- The Japanese Wet Wipes market is expected to develop at a 9.3% CAGR through 2031, while the South Korean Wet Wipes market is expected to rise at a robust 10% CAGR.
Prominent Drivers:
- Collaborations among key market players to launch innovative products will provide tailwinds to Wet Wipes sales during the assessment period.
Restraints:
- Availability of cheaper alternatives such as soaps, cleansing milk, and face washes might hamper sales of Wet Wipes.
- Chances of allergic reactions and irritability on the skin might result in decreased sales of Wet Wipes.
Competitive Landscape
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:
- Medline partnered with Intelligent Observation (IO) in January 2021 to help healthcare professionals manage healthcare-associated infection rates.
- Essity announced the acquisition of ABIGO Medical, a wound care company, and Asaleo Care, an Australian hygiene company, in July 2021.
Leading players operating in Wet Wipes Market profiled by FMI include:
- Essity Aktiebolag (publ)
- Kimberly-Clark
- Procter & Gamble
- Cardinal Health
- Medtronic
- Stryker
- Coloplast
- Others
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More Insights on FMI’s Wet Wipes Market
The latest market study on the Wet Wipes market by Future Market Insights gives a detailed segmentation for the forecast period of 2021 to 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:
Product:
- Incontinence wipes
- Baby Wipes
- Adult Wipes
- Skin Antiseptic Wipes
- Feminine Hygiene Wipes
- Skin Care Wet Wipes
- Sterile Wound Cleansing Wipes
Disposability:
- Flushable Wipes
- Non-Flushable Wipes
Application:
- Incontinence
- Skincare
- Personal Hygiene
- Wound Care
End-User:
- Hospitals
- Clinics
- Specialty Centers
- Long term care centers
- Homecare Settings
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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