Sep 10, 2018
Global Cosmetic Wipes Market Experiences Tailwinds from Growing Application in Feminine Hygiene, says Fact.MR
by Team Fact.MR
The global cosmetic wipes market is prognosticated to generate strong revenue growth on the back of increasing application of products in personal hygiene. Cosmetic wipes is mainly used as a feminine hygiene product for removing makeup, wiping sweat, and other purposes. Manufacturers are expected to largely focus on including natural ingredients to improve the demand of their products in the global cosmetic wipes market. This could be evidenced by the high demand for herbal cosmetic wipes in the market. Skin care is one industry anticipated to create a whole lot of market opportunities for cosmetic wipes vendors. Cosmetic wipes could be used in the treatment of hyperpigmentation and wrinkles.
Increase in spending power of consumers and rising disposable income are expected to create a surge in the growth of the global cosmetic wipes market. Lack of the use of chemical ingredients could be another factor boosting the sales of cosmetic wipes in the market. Ease of use and pocket-friendliness of cosmetic wipes are anticipated to attract new consumers to the market. On the other hand, wide availability of cosmetic wipes could set the tone for valuable growth of the global cosmetic wipes market.
Fact.MR prophesies the global cosmetic wipes market to bag a US$1.7 bn by the end of 2022. Amongst other products, wet wipes account for an over third of the total revenue share of the global cosmetic wipes market. By the completion of the forecast tenure 2017-2022, wet cosmetic wipes are foreseen to secure a market valuation of US$1.1 bn. This segment could show lethargic growth in the global cosmetic wipes market. It is foretold to lose some of its share of the global cosmetic wipes market by the final forecast year.
According to distribution channel, the global cosmetic wipes market is bifurcated into e-commerce, convenience store, drug store, modern trade, and other retail formats. Amongst these segments, modern trade could rank higher in the global cosmetic wipes market in terms of revenue share. By the end of 2022, its market is projected to attain a valuation of US$0.6 bn. It could post a 3.2% CAGR and gain a stronger share in the near future. Amongst other distribution channels, modern trade currently secures an over one-third of the global cosmetic wipes market on the basis of value.
By application, the global cosmetic wipes market is divided into scrub, oily skin, dry skin, sensitive skin, and acne-prone wipes. With respect to type of material used in manufacturing cosmetic wipes, the market is classified into non-woven fabric and absorbent cotton.
As per the geographical study of the Fact.MR report, Europe is envisaged to gain traction in the global cosmetic wipes market as it records higher revenue growth in the foreseeable future. This domination of the region could continue for the next few years. During the course of the aforementioned forecast period, Europe is envisioned to sustain its lead in the global cosmetic wipes market. Although it may grow at a slower CAGR than other regions, Europe could be easily listed among the most attractive markets for cosmetic wipes.
The level of competition in the global cosmetic wipes market could increase due to the rising awareness about multifunctional features and value-added benefits of products offered by vendors. Growing concerns over skin care and high adoption of cosmetic wipes in leading regions are predicted to create more demand in the global cosmetic wipes market. Increasing use of facial wipes could positively reflect on the growth of the global cosmetic wipes market. Players are forecast to spend more on research and development to come up with novel offerings in the global cosmetic wipes market. Use of specialty fibers could be a common scenario observed in the global cosmetic wipes market.