Institution of Personal Hygiene Measures amid COVID-19 to Drive Market Growth in Near-Term
The evolution of the personal care industry has led to an explosion of personal hygiene products such as deodorant wipes that mask unwanted body odor caused by perspiration. At the same time, the demand for deodorant wipes has gained momentum with the outbreak of COVID-19 which is spreading rapidly around the globe. World Health Organization (WHO) and governments are promoting the use of personal hygiene products to prevent infection, due to which there has been a significant upsurge in the demand for personal care products including deodorant wipes. However, the irregular and disrupted supply chain and lockdowns in major regions are hindering the production of deodorant wipes. This is creating dormancy in the deodorant wipes market globally. On the back of these trends, Fact.MR projects that the global deodorant wipes market is poised to grow sluggishly at a CAGR of 2% by the end of the forecast period (2020 – 2030).
Wet Wipes to Remain the Most Preferred Deodorant Wipes Variant Globally
Wet wipes are preferred by most of the consumers as they provide the right pH balance coupled with and inhibits the growth of microbes. Thus, they are a suitable prevention measure which results in high demand growth for wet wipes. The sales of wipes however are currently hampered due to the closure of retail stores as well as stoppage of e-commerce deliveries amid stringent lockdowns. For instance, in the U.S., the retail industry registered plummeting sales of 8.7% in March 2020, the biggest decline since 1992. Such a huge slump in the retail industry is expected to impact sales of wet deodorant wipes. However, post recovery, the demand for deodorant wipes is expected to increase marginally. Owing to the aforementioned facts, wet wipes are expected to grow at a value CAGR of 1.9% and are anticipated to hold more than 73% share of the global deodorant wipes market by the end of the forecast period.
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Dryness & Itch Relief Poised to be Market Stimulating Applications
The outbreak of COVID-19 has resulted in a remarkable drop in the sales and has posed a serious threat of dormancy in the global deodorant wipes market in the near future. However, in the long run, the demand for deodorant wipes are projected to leapfrog. Soaring temperatures and high pollution levels in urban areas are leading to widespread skin dryness and itchiness which is giving impetus to the demand for deodorant wipes. On back of these factors, dryness relief, and itch- relief application segments are expected to grow at value CAGRs of 1.5% & 2.2% respectively and poised to hold more than 62% share of the global market combined.
Europe to Exhibit Fastest Growth
Europe is poised to remain the market leader in the global deodorant wipes market. Rapid urbanization coupled with high per capita spending within the region are the key market stimulators. However, Europe has now emerged as the epicenter of the coronavirus pandemic with nearly a million COVID-19 positive cases. The European market is projected to witness stagnancy for next couple of years as the business eco-system of the region will be impacted most adversely during the COVID-19 outbreak. In addition, Asia which is the one of leading manufacturer of deodorant wipes is facing difficulties for exports from the region as most of the ports in the region are currently not operational. This will disturb the demand-supply ratio globally. Fact.MR opines that in the global deodorant wipes market Europe deodorant wipes market will grow at a value CAGR of 2.2% during the forecast period.
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New Product Innovations to Aid Market Recovery
Global deodorant wipes market is highly competitive in nature with leading personal care companies such as Unilever entering into the market and creating intense competition among leading players. Key players are launching new products according to changing requirements of consumers. For instance, in February 2019, Secret a personal care brand of Procter & Gamble launched body cleansing wipes and deodorants. Some of the leading players in the global deodorant wipes market are Johnson & Johnson, Procter & Gamble (P&G), Kimberly-Clark, Svenska Cellulosa Aktiebolaget (SCA), Forever Fresh, Fresh Body Co., Ltd., Shiseido Company, GATSBY, Mandom Corporation, Demak'Up
COVID-19 Market Insights:
The global outbreak of the COVID-19 is expected to impact adversely on the deodorant wipes market in the short-run, while in the long-term, market is poised to gain high traction due to increased awareness about personal hygiene products. However, the COVID-19 pandemic has disrupted the global personal care market owing to disruptions in raw material procurement, production and plummeting sales. In addition, consumers are preferring alcohol-based wipes that are pegged as being more effective by government agencies such as US EPA (Environmental Protection Agency). This, in turn, has lowered the production of deodorant wipes. In addition, the complete lockdown imposed by several governments has posed direct challenges of a tenuous supply chain resulting in substantially damaged demand-supply ecosystem. In Fact.MR’s recently published report it is projected that the global deodorant wipes market shall remain static for the next couple of years whilst in 2022, the market will recover to create an absolute $ opportunity worth US$ 70.7 million by the end of the forecast period (2020 – 2030).
The global deodorant wipes market is witnessing seismic shifts due to the outbreak of COVID-19 globally. However, the market is expected to create substantial value opportunities during the forecast period on the back of increased awareness and demand for personal hygiene products such as deodorant wipes.
Global Deodorant Wipes Market: Scope of the Report:
The recent global deodorant 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 deodorant wipes market. A detailed segmental analysis, based on product type, fragrance type, application, and distribution channel, 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 deodorant 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 deodorant wipes market.
Deodorant Wipes Market - Scope of the Report
Fact.MR recently published a market study on the global market for deodorant wipes. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the deodorant wipes market structure. The market study presents exclusive information about how the deodorant 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 deodorant wipes market in the forecast period.
The study is relevant for stakeholders in the deodorant wipes market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the deodorant 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 deodorant wipes market. It also offers actionable insights based on future trends in the deodorant wipes market. Furthermore, small businesses and new entrants in the deodorant 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 Segments of the Deodorant wipes Market
Fact.MR’s study on the deodorant wipes market offers information divided into four key segments— product, fragrance, application and distribution channel across six region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.
Key Questions Answered in the Fact.MR’s Deodorant Wipes Market Report
- Which regions will continue to remain the most profitable regional markets for deodorant wipes market players?
- Which factors will induce a change in the demand for deodorant wipes during the assessment period?
- How will changing trends impact the deodorant wipes market?
- How can market players capture the low-hanging opportunities in the deodorant wipes market in developed regions?
- Which companies are leading the deodorant wipes market?
- What are the winning strategies of stakeholders in the deodorant wipes market to upscale their position in this landscape?
Deodorant Wipes Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the deodorant 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 deodorant 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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