Cosmetic Wipes Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2030

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.

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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.

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.

Analyst’s Viewpoint:

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.