The global alcohol wipes market size is expected to reach USD 715.4 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.3% during the forecast period. The market is fragmented due to the presence of a large number of regional manufacturers and rigid supply chain. The growth is attributed to the versatile application and high demand for the product from healthcare industry. Hospitals and clinics adopt the product for maintaining cleanliness and hygiene in the critical areas such as Operation Theaters (OTs) and Intensive Care Units (ICUs). The wipes are also used for cleaning medical devices and equipment as alcohol helps kill bacteria and stop the growth of micro-organisms.
Rising consumer awareness regarding hygiene coupled with their increasing disposable income is projected to drive the demand for alcohol wipes. Rising use of the product to clean appliances printers, soldering machine, and gadgets is anticipated fuel the product demand. The high affordability and effectiveness of the product is projected to further boost the demand. Consumers use alcohol wipes to prevent acne-causing bacteria. However, the product can cause increased oil production, dryness, and acne for consumers with sensitive skin. This factor is anticipated to challenge growth of the alcohol wipes market.
Wet wipes industry is facing lot of challenges as the non-disposable wipes can clog the drainage systems. In 2018, the U.K. government announced the ban on single used products including the wipes to avoid this issue as well as to save the marine life. Stringent government regulations regarding product labeling to maintain transparency is anticipated to influence the market. Recently, Holland and Barrett, a U.K. based leading health retailer stopped selling wet wipes including alcohol wipes in its 800 stores in U.K and Ireland. The company is replacing these products with sustainable and biodegradable wipes made of natural fibers such as cotton and wooden pulp. Growing demand for eco-friendly and disposable wipes is creating room for the new entrants in the market.
Synthetic fabric material is estimated to be the largest shareholder in the market owing to the softness and absorbent properties of the material. Characteristics such as light weight, heat resistance, high absorbency, and softness are anticipated to bode well for the segment growth. The natural fabric material segment, on the other hand, is estimated register the fastest CAGR over the forecasted period due to growing green trend. Also, demand for flushable and bio-degradable wipes is boosting growth of the segment. Stern regulations regarding disposable wipes is driving the need for product enhancement among manufacturers.
Many players are introducing new products such as alcohol wipes with fragrance to attract more consumers. For instance, Swago launched its cologne-scented wipes for consumers who do not want to carry perfume bottles.
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Further key findings from the report suggest:
- In North America, U.S. alone accounted for approximately 60% of the market share in 2018 owing to increasing consumer demand wipes with sanitization and antiseptic properties
- Commercial segment hold the largest market share of around 62.0% in 2018 and is estimate to continue leading over the forecasted period
- Some of the key players operating in the alcohol wipes market include Cardinal Health Inc.; CleanFinity Brands; Pal International Ltd.; Robinson Healthcare Ltd.; The Clorox Co.; and GAMA Healthcare Ltd.
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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