Apr 21, 2020
Global Deodorant Wipes Market to Witness Decline in Near Term owing to COVID-19, Long-term Outlook Slated to be Positive, Opines Fact.MR
by Team Fact.MR
Global deodorant wipes market is expected to surpass US$ 70.7 million during the forecast period (2020 – 2030). The deodorant wipes market is facing stagnancy due to hampered supply chain and retail operations owing to the complete lockdown announced by governments of affected countries. In the long run however, the global deodorant wipes market is poised to gain traction. With sales in the personal wipes market continuing to climb, wipes manufacturers are viewing this as a high potential area to diversify. Deodorant wipes are one such variant. For instance, in March 2020 online sales of personal care products such as disinfecting wipes, toilet tissues have increased more than 2X due to COVID-19 pandemic. The trend is expected to continue in the future years which will create substantial opportunities in the global deodorant wipes market.
Key Takeaways of Deodorant Wipes Market
- Global deodorant wipes market is expected to grow at a value CAGR of 2% and it is anticipated to expand by 1.2X from 2020 through 2030.
- In product type segment, wet wipes will hold maximum share in terms of value and are projected to be valued at US$ 284.9 million by the end of forecast period (2020 – 2030).
- Deodorant wipes with citrus fragrance are expected to grow at a value CAGR of 1.8% and are expected to lose 55 BPS from its market share by the end of forecast period.
- Deodorant wipes effective on skin dryness are expected to account for majority share in terms of value and are projected to create absolute $ opportunity of more than US$ 17.2 million during the forecast period.
- In the distribution channel segment, e-commerce & convenience stores are projected to grow at a value CAGR of 2.7% & 1.8% respectively and will collectively create an absolute $ opportunity of more than US$ 20.5 million by the end of forecast period.
- Europe is expected to hold maximum share in terms of value and will expand at CAGR of 2.2% in terms of value by the end of forecast period.
“Global deodorant wipes market is poised to create substantial opportunities during the forecast period. However, in the near future, the market may face stagnancy due to hampered global economy amid COVID-19 pandemic.” Says Fact.MR analyst.
New Product Launches to Unveil Lucrative Prospects
Global deodorant wipes market is moderately consolidated in nature with few players serving a large consumer base. Key players are introducing new products in order to retain their position in the global market. For Instance,
- In February 2019, leading personal care company Unilever launched a range of deodorant wipes under its various brands in personal and skin care segment such as Axe, Dove, and Degree etc.
- In May 2018, another personal care brand Recess launched deodorant wipes that are combined with tea tree oil and acai extract.
More Valuable Insights on the Deodorant Wipes Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global deodorant wipes market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the deodorant wipes market on the basis of product type, fragrance type, application, and distribution channel across six major regions.
>>> To Get more insights on deodorant wipes market, visit- https://www.factmr.com/report/184/deodorant-wipes-market
About the Retail and Consumer Goods Division at Fact.MR
Retail and consumer goods analysts at Fact.MR meticulously track broader sub-industries to keep clients abreast with recent developments in the market. Our practical approach to product design and pricing strategy provide vital inputs to businesses that are struggling to hit the ‘move-the-needle’ bottom line. The team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio along with historical, current and future market size. For more retail domain insights, visit here.