Oct 04, 2018
Deodorant Wipes Market anticipated to reach Worth of US$920 Mn by 2022 end, Advanced Properties and Versatile Benefits key Underpinnings to Rising Demand, Observes Fact.MR
by Team Fact.MR
The global deodorant wipes market is witnessing attractive strides, increasingly driven by the growing inclination toward easy-to-use personal care products to maintain hygiene and pleasant body odor. The rising demand for easy-to-dispose wipes and towelettes with better functions is a key factor boosting the deodorant wipes market. The growing number of consumers across the world who demand deodorant wipes for the use on-the-go, such as while travelling, is a crucial trend robustly catalyzing the expansion of the market. The rising popularity of deodorant wipes for armpits for preventing the spread of bromhidrosis-causing bacteria is also propelling the growth of the deodorant wipes market. The growing demand for deodorants among people with hyperhidrosis is also boosting the deodorant wipes market. The rising awareness about the safety of the ingredients on skin is propelling product advancements in the deodorant wipes market. In recent years, this has led to the popularity of natural deodorant wipes that are bereft of toxic salts and chemicals. Constant efforts to improve the functionality of the formulations has led to the inclusion of better ingredients for making deodorant wipes. The use of usnea barbata extract and salvia officinalis leaf extract is a case in point.
According to forecast by Fact.MR, the opportunities in the global deodorant wipes market is projected to reach a worth of US$920 Mn by the end of 2022 and rise at a moderate CAGR during 2017–2022.
The substantial demand for wet wipes has been a key contributor to the expansion of the deodorant wipes market, world over. These wipes are gaining popularity among consumers in the deodorant wipes market who preferably use them for controlling body odors due to the perspiration in armpits. The rising popularity is on account of few benefits such as the ease of use while on-the-go, their ease of disposability, and the discreet nature of the personal care product. The advent of wet wipes with anti-microbial, anti-bacterial, anti-inflammatory properties is a notable factor boosting the overall deodorant wipes market. The rapid action of wet deodorant wipes has allowed them to be used by persons irrespective of the clothing. These factors will help the sale of wet wipes in the deodorant wipes market to reach a worth of nearly US$630 Mn by 2022 end.
Vis-à-vis revenue share, the product segment by the end of 2017 was estimated to hold over two-third of the share in the global deodorant wipes market. However, over the years of the assessment period, the share is likely to dwindle.
The demand for dry type in the global deodorant wipes is no less lucrative. The segment is estimated to reach a worth of US$290 Mn by the end of 2022 and is expected to rise at a robust CAGR during 2017-2022. In 2017, among all product types of deodorant wipes, the segment was estimated to hold a share of around 33%, which will rise in the coming years.
The sale of deodorant wipes through modern trade is a robust factor aiding in the rapid expansion of the deodorant wipes market. The modern trade deodorant wipes segment stood at nearly US$ 280 Mn in 2017 and is projected to touch a worth of US$ 360 Mn by the end of 2022, thereby garnering a CAGR of 5.1% between the years.
Among all regions in the deodorant wipes market, Europe is expected to hold dominant share throughout the forecast period. The region is expected to emerge as an increasingly lucrative market for deodorant wipes and the demand for various deodorant wipes is expected to rise at moderate pace. A large part of the growth is expected to come from application of deodorant wipes for dryness relief and the segment is projected to reach a worth of US$300 million by the end of 2022. Prominent players vying for sizeable shares of the global deodorant wipes market include Diamond Wipes International, Rockline Industries, Nice-Pak Products, Inc., Mandom Corporation, and Shiseido Company Limited.