Key Projections on Future of Market for Baby Wipes
Published : 02 Aug 2017 Industry: Consumer Goods
Baby wipes continue to be a distinct consumer goods item with immense market potential. In addition, demand for herbal or natural baby wipes products is anticipated to witness a healthy uptick over the next couple of years. Nonetheless, low product stability due to the absence of chemical preservatives remains a major limitation of natural baby wipes. At the same time, most of the baby wipes available in the market are priced quite high, which further dismays the consumer acceptance for such products. The recent report published by Fact.MR reveals that the global baby wipes market is set to exceed a valuation of US$ 6,271 Mn, reflecting a miniscule CAGR over the forecast period (2017-2022). The market remains more volatile in regions with large pools of price-sensitive consumers who usually restrain themselves form purchasing expensive products.
Manufacturers of baby wiper are concentrating of developing cost-effective and safer products that easily comply with the guidelines set by regulatory bodies. Even in developed regions, companies are finding it difficult to introduce premium products, as consumers are quite content with the cheaper and standard baby wipes varieties. Currently, baby wipes have a low market penetration as most consumers opt for traditional products. Factors as such is impact the adoption rate of baby wipes across developed and developing regions. That is why, companies are actively focusing on advertising, promotion and aggressive marketing of their products.
Global Baby Wipes Market: Key Projections
- Among regions, Europe is expected to remain the most lucrative market for baby wipes during the assessment period. Europe’s baby wipes market is anticipated to increase at a CAGR of 2.3% between 2017 and 2022.
- On the basis of product type, the wet wipes segment is expected to retain its dominant position over 2022. Currently, this segment is commands for around 69% revenue share of the global market.
- By material type, the Cotton Terry Wipes segment is expected to surpass a valuation of US$ 1,976 Mn by the end of 2017. The Cotton terry wipes segment currently accounts for around 36% revenue share of the market.
- Modern trade is expected to remain the largest distribution channel for baby wipes in 2017 and beyond. This segment is projected to account for the largest revenue share of the market throughout the forecast period.
- By technology used, spunlace baby wipes and airlaid baby wipes segments collectively account for more than 70% revenue share of the market and the trend is likely to continue over the next five years. Demand for spunlace baby wipes and airlaid baby wipes is expected to surge owing to their high efficiency and affordability.
The Fact.MR report also mentions key companies operating in the global market for baby wipes, which include Farlin Infant Product Corporation, The Procter and Gamble Company, Svenska Cellulosa Aktiebolaget SCA, Hengan International Group Company Limited., Linette Hellas S.A., The Himalaya Drug Company, Sebapharma GmbH & Co. KG, Torunskie Zaklady Materialow Opatrunkowych S.A., Kimberly Clark Corporation, Johnson & Johnson, Unicharm Corporation, Pigeon Corporation, Cotton Babies, Inc., Artsana S.p.A, and The Clorox Company.