Apr 09, 2020
Disinfecting Wipes to Witness 2X Increase in Demand in 2020, amid COVID-19 Outbreak, Concludes Fact.MR
by Team Fact.MR
Global market for disinfecting wipes is poised to witness a 2X increase in demand in 2020, as compared to 2019, with market value surpassing US$ 1.4 Bn by the end of assessment period (2020-2030), says Fact.MR in its newest published report. Due to the ongoing COVID-19 outbreak, there has been a massive surge in sales of disinfecting products such as disinfecting wipes.
Governments around the globe are encouraging citizens to use disinfecting products by issuing guidelines to stay safe amid the COVID-19 outbreak. For instance, in March 2020, the US Environmental Protection Agency (EPA) expanded the disinfectant list that is effective on COVID-19. EPA thereafter added 40 new products after reviewing the list. Further, governments are running TV campaigns to educate people about the importance of disinfecting products such as disinfecting wipes in order to control the COVID-19 pandemic.
Key Takeaways of Disinfecting Wipes Market
- Collectively, North America & Europe are contributing to more than 60% of the total value in global disinfecting wipes market, owing to soaring infection rates amid COVID-19 outbreak
- By the end of assessment period, consumer wipes segment will cater to more than 3/5th of the market sales.
- Drylaid structured wipes are currently leading in the market with around 40% revenue share, while Airlaid structured wipes are witnessing growth of 2.1X which is more than the global average
- Surge in demand for disposable wipes is expected due to the COVID-19 pandemic, with personal, clinical and commercial usage portraying a significant increase during forecast.
- Overall, the disinfecting wipes market is likely to create an absolute value opportunity of more than US$685 Million during the forecast period, adding 2X times more value in 2029 as compared to 2019
“Disinfecting wipes market is expected to show prolific growth owing to COVID-19 pandemic and government initiatives towards the use of disinfecting products” says the Fact.MR analyst.
Capacity Expansion & Geographic Reach, Underpinning Revenue Gain in Disinfecting Wipes Market
Global market for disinfecting wipes is consolidated with the market leader holding more than 70% of the revenue generated in 2019. Ongoing COVID-19 pandemic has paved the way for new market entrants. The market is expected to remain consolidated, even with the entry of regional manufactures. Leading market players like The Clorox Company, Lysol and Kimberly-Clark Corporation are working on expanded capacity to address the booming demand for disinfectant wipes. For instance, Lysol cleaning products manufacturer Reckitt Benckiser is running its factories round the clock to meet the growing demand for disinfecting wipes.
Expanding Production of Manufacturers to Boost Growth of Bleach Wipes Market
Bleach wipes market has exhibited high growth during the COVID-19 pandemic. Thus, a gap between supply and demand has been created. Multiple companies like The Clorox Company have been dipping into their inventories to fulfill demand. Production of bleach wipes is also expected to ramp up during the forecast period. New product launches by companies like Medline are expected to fare well owing to this increase in demand. In 2019, Medline launched new micro-kill, germicidal bleach wipes in the market, which are designed to clean hospital surfaces.
Find More Valuable Insights on Disinfecting Wipes Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global disinfecting wipes market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the bleach wipes market on the basis of product, use case, application, structure and material across the six major regions.
>>> To Get more insights on disinfecting wipes market, visit- https://www.factmr.com/report/1578/disinfecting-wipes-market
About the Retail and Consumer Goods Division at Fact.MR
Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, Fact.MR retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more retail industry domain insights, visit here.