Cosmetic Wipes Market Demand to Witness Marginal decline in Near Term amid COVID-19 Pandemic
The growing concern surrounding COVID-19 has changed the dynamics of the personal care industry and adversely affected almost every region in the world. The closure of all non-essential commercial activities in European countries and the USA is causing a severe impact on the cosmetic wipes market. However, after the pandemic is brought under control, the cosmetic wipes market is poised to grow ~1.3X during the forecast period 2020-2030.
The global cosmetic wipes market is anticipated to gain traction with growing awareness for face cleansing products among consumers along with anti-aging properties offered by these products. As far as the outbreak of COVID-19 is concerned, manufacturers are focusing on developing organic and natural care wipes as they are anticipating consumer inclination towards environmentally friendly products.
This, in turn, is expected to accelerate the demand for cosmetic wipes by the beginning of the third quarter. Furthermore, the manufacturers are banking on consumers’ need to save energy and time by taking into account their hectic daily schedule as they seek convenient products. Owing to the above-mentioned facts, cosmetic wipes market is foreseen to grow at a CAGR of ~2.8% during the forecast period 2020-2030.
Cleansing & Makeup Removal Wipes to Remain Highly Lucrative
The coronavirus outbreak has plummeted sales of cleansing & makeup removal wipes as people are maintaining social distancing owing to the implementation of lockdown in almost every country. This has resulted in declining sales and exposed several challenges to manufacturers operating in the cosmetic wipes market. However, post containment of the pandemic, the demand for cosmetic wipes will swiftly increase as people will resume work, which is expected to see an upward trend in the sales of cleansing & makeup removal wipes.
This, in turn, is anticipated to increase the demand for cleansing & makeup removal wipes during the forecast period. Among all the applications, the cleansing & makeup removal wipes segment is estimated to account for nearly 46% of the cosmetic wipes market by the end of 2020.
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European Market Poised for Sharper Revenue Margins
Europe has dominated the global cosmetic wipes market in 2019 accounting for nearly 27% of the market share followed by North America with ~23%. However, Europe with the maximum COVID-19 cases and a key region for cosmetic wipes, coupled with a high concentration of cosmetics companies has witnessed a negative impact on cosmetic wipes sales in 2020.
The growing popularity of cosmetic wipes in developed countries, especially among millennials and generation Z seeking products that can cleanse, moisturize and refresh their face without dehydrating the skin is foreseen to create a plethora of opportunities for the players operating in the cosmetic wipes market.
During the course of the aforementioned forecast period, Europe is envisioned to sustain its lead in the global cosmetic wipes market. Although it is anticipated to grow at a slower CAGR than other regions, Europe has been easily listed among the most attractive markets for cosmetic wipes during the forecast period.
Cosmetic Wipes Market Players Striving for Product Enhancement
The global cosmetic wipes market is highly fragmented with the presence of a large number of local and regional players. Some of the prominent market players are Johnson & Johnson, Procter & Gamble (P&G), Kimberly-Clark, Kylie Skin, Nice-Pak Products, and Albaad Massuot among others. These market players are concentrating on product launches in order to broaden their market footprints. An example of these product launches is:
Nice-Pak Products is a major player in the cosmetic wipes market. The company manufactures facial cleaning towelettes which are designed for easy and effective make-up removal. The company uses plant-based fibers to manufacturer these wipes which are 100% sustainable to provide superior cleaning.
Kylie Skin in 2019, introduced its new line of Makeup Removing Wipes. These towelettes are safe for sensitive skin and enable the users to wipe away waterproof eye, lip, and face makeup.
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COVID-19 Market Insights:
The unprecedented COVID-19 pandemic continues to spread around the world, no industry has escaped its onslaught since the outbreak first began. It has affected the market in different ways and also made a huge impact on the cosmetic wipes supply chain, resulting in a considerable slowdown in the growth of these products.
Europe is one of the prominent regions for cosmetic wipes and will see a huge fall in demand as it is the largest affected region by the outbreak. However, amid the downturn, the growing use of virtual technologies will enhance online shopping among the consumers and is expected to gradually increase sales of cosmetic wipes.
Furthermore, the manufacturers of cosmetics wipes foresee this opportunity in the near term by offering additional benefits such as antibacterial or moisturizing properties in the wipes. As per the recent report published by Fact.MR, it is estimated that cosmetic wipes market demand curve will start showing positive signs by the third quarter. In the long run, the COVID-19 outbreak can serve as a catalyst for the cosmetics wipes market as they are safe and skin-friendly which will increase demand in the aftermath of this outbreak.
The unprecedented impact of COVID-19 will have short term implications for the cosmetic wipes market. Expansion of the market will rely on safe and organic ingredients wipes which will enable the manufacturers to meet consumer needs and demand. Incorporating product safety with natural elements is anticipated to boost cosmetic wipes market prospects.
Global Cosmetic Wipes Market: Scope of the Report:
The recent global cosmetic wipes market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global cosmetic wipes market. A detailed segmental analysis, based on product type, distribution channel, application and material used, has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global cosmetic wipes market. In addition, a separate section on the market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the cosmetic wipes market.
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Key Segments of the Cosmetic Wipes Market
Fact.MR’s study on the cosmetic wipes market offers information divided into four key segments-product type, distribution channel, application, material used and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
- Wet Wipes
- Dry Wipes
- Modern Trade
- Specialty Stores
- Medical Stores & Pharmacies
- Online Retail
- Others (Institution, Salons, Spa, Direct Sales)
- Cleansing & Makeup Removal Wipes
- Moisturizing Wipes
- Others (Scrubs, Exfoliating Wipes, etc.)
- Absorbent Cotton
- Non-Woven Fabric
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Global Cosmetic Wipes Market - Scope of the Report
Fact.MR recently published a market study on the global market for cosmetic wipes. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the cosmetic wipes market structure. The market study presents exclusive information about how the cosmetic wipes market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the cosmetic wipes market in the forecast period.
The study is relevant for stakeholders in the cosmetic wipes market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the cosmetic wipes market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the cosmetic wipes market. It also offers actionable insights based on future trends in the cosmetic wipes market.
Furthermore, small businesses and new entrants in the cosmetic wipes market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Cosmetic wipes Market Report
- Which regions will continue to remain the most profitable regional markets for cosmetic wipes market players?
- Which factors will induce a change in the demand for cosmetic wipes during the assessment period?
- How will changing trends impact the cosmetic wipes market?
- How can market players capture the low-hanging opportunities in the cosmetic wipes market in developed regions?
- Which companies are leading the cosmetic wipes market?
- What are the winning strategies of stakeholders in the cosmetic wipes market to upscale their position in this landscape?
Cosmetic wipes Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the cosmetic wipes market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of conclusions.
Secondary resources referred to analysts during the preparation of the cosmetic wipes market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who have contributed to the development of this report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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