Apr 20, 2020
Cosmetic Wipes Sales to Decline in 2020 amid COVID-19, Growth Marginally Sustained through Online Channels, Says Fact.MR
by Team Fact.MR
The global cosmetic wipes market was valued at ~US$ 546.5 Mn at the end of 2019 and is anticipated to surpass US$ 638.8 Mn during the forecast period 2020-2030. The spread of COVID-19 and resultant lockdowns has plummeted the sales of cosmetic wipes. To overcome this situation, manufacturers are utilizing digital technologies and engaging customers via online portals. This is expected to give an uptick to sales of cosmetics wipes on e-commerce platforms. However, high demand growth is expected by the third quarter of 2020 when the pandemic is brought under control and normalcy is restored. The cosmetic wipes market continues to be driven by its superior characteristics such as convenience, ease of use, efficacy, and removal of impurities. This is anticipated to drive sales of cosmetics wipes post recovery.
Key Takeaways of Cosmetic Wipes Market
- The global cosmetic wipes market is projected to create an absolute $ opportunity of more than ~US$ 152.7 Mn and is anticipated to grow at a value CAGR of 2.8% during the forecast period
- By product type, wet wipes is set to hold a share-wide market dominance with over 76% of the total market value by the end of forecast period 2020-2030
- By material, non-woven fabric is projected to grow at a value CAGR of 2.2% and is expected to be valued 1.7X more than absorbent cotton by the end of 2020
- Europe is projected to hold maximum share in global cosmetic wipes market and is expected to grow 1.8X more than South Asia & Oceania by the end of forecast period
- By distribution channel, modern trade channel is projected to surpass market valuation of ~US$ 195.2 Mn by the end of 2030
“The ongoing COVID-19 pandemic has hit market players adversely on the supply side causing declining sales of cosmetic wipes. However, with high consumer inclination towards safe and organic ingredients, growth will be sustained post recovery from COVID-19 pandemic” says the Fact.MR analyst
Product Launches to Enhance Market Resiliency
Key players in the cosmetic wipes market are Johnson & Johnson, Henan Group, Procter & Gamble, Kimberly Clark, Kylie Skin, Nice-Pak Products, Albaad Massuot, Rockline Industries, Beiersdorf, Diamond Wipes International, among others. Prominent market players are launching new products to increase their customer base in the global market. For instance,
- In 2019, Henan Group launched its new Super Mini wet wipes for the Malaysian market. These wipes contains natural tea polyphenols and provides the consumers with unique green tea scent and natural care
- In 2019, Johnson & Johnson owned company Neutrogena launched its new Makeup Remover Cleansing Towelettes. The newly launched product is the patented formula of the company and each wipe is infused with seven different makeup removers designed to remove stubborn makeup
- In 2018, Kimberly Clark launched its new product Kleenex Wet Wipes. These wipes are thicker and softer which contains no harmful chemicals and are used to clean hands and face.
Find More Valuable Insights on Cosmetic Wipes Market
Fact.MR, in its new offering, presents an unbiased analysis of the global cosmetic wipes market, presenting historical demand data (2015-2020) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the cosmetic wipes market on the basis of product type (wet wipes, dry wipes), distribution channel (modern trade, specialty stores, medical stores & pharmacies, online retail, others (institution, salons, spa, direct sales), application (cleansing & makeup removal wipes, moisturizing wipes, others (scrub, exfoliating wipes, etc.) and material used (absorbent cotton, non-woven fabric) across six major regions.
>>> To Get more insights on cosmetic wipes market, visit- https://www.factmr.com/report/118/cosmetic-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 consumer good domain insights, visit here.