The global cosmetic wipes market was valued at ~US$ 546.5 Mn at the end of 2019 and is anticipated to surpass US$ 638.8 Mn during the forecast period 2020-2030. The spread of COVID-19 and resultant lockdowns has plummeted the sales of cosmetic wipes. To overcome this situation, manufacturers are utilizing digital technologies and engaging customers via online portals. This is expected to give an uptick to sales of cosmetics wipes on e-commerce platforms. However, high demand growth is expected by the third quarter of 2020 when the pandemic is brought under control and normalcy is restored. The cosmetic wipes market continues to be driven by its superior characteristics such as convenience, ease of use, efficacy, and removal of impurities. This is anticipated to drive sales of cosmetics wipes post recovery.
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Key Takeaways of Cosmetic Wipes Market
- The global cosmetic wipes market is projected to create an absolute $ opportunity of more than ~US$ 152.7 Mn and is anticipated to grow at a value CAGR of 2.8% during the forecast period
- By product type, wet wipes is set to hold a share-wide market dominance with over 76% of the total market value by the end of forecast period 2020-2030
- By material, non-woven fabric is projected to grow at a value CAGR of 2.2% and is expected to be valued 1.7X more than absorbent cotton by the end of 2020
- Europe is projected to hold maximum share in global cosmetic wipes market and is expected to grow 1.8X more than South Asia & Oceania by the end of forecast period
- By distribution channel, modern trade channel is projected to surpass market valuation of ~US$ 195.2 Mn by the end of 2030
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“The ongoing COVID-19 pandemic has hit market players adversely on the supply side causing declining sales of cosmetic wipes. However, with high consumer inclination towards safe and organic ingredients, growth will be sustained post recovery from COVID-19 pandemic” says the Fact.MR analyst
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.
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Prominent market players are launching new products to increase their customer base in the global market. For instance,
- In 2019, Henan Group launched its new Super Mini wet wipes for the Malaysian market. These wipes contains natural tea polyphenols and provides the consumers with unique green tea scent and natural care
- In 2019, Johnson & Johnson owned company Neutrogena launched its new Makeup Remover Cleansing Towelettes. The newly launched product is the patented formula of the company and each wipe is infused with seven different makeup removers designed to remove stubborn makeup
- In 2018, Kimberly Clark launched its new product Kleenex Wet Wipes. These wipes are thicker and softer which contains no harmful chemicals and are used to clean hands and face.
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