Rise in disposable income and surge in demand for personal hygiene products as well as disposable and eco-friendly products fuel the growth of the market
WILMINGTON, DELAWARE, UNITED STATES, December 10, 2023 /EINPresswire.com/ -- According to the published by Allied Market Research, the global cotton personal-care product market was estimated at $12.53 billion in 2020, and is expected to garner $19.15 billion by 2028, registering a CAGR of 4.6% from 2021 to 2028.
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Rise in disposable income, growing urbanization and surge in demand for personal hygiene products as well as disposable and eco-friendly products fuel the growth of the global cotton personal-care product market. However, rise in raw material prices and packaging costs restrains the market. Moreover, changes in consumer lifestyle and rise in penetration of online shopping are expected to unlock an array of opportunities for the market players in the future.
The outbreak of the pandemic disrupted the supply management as well as manufacturing facilities for personal-care cotton products across the world.
Consumer discretionary spending had decreased during the lockdown, owing to which the businesses noticed a behavioral shift toward safer and more durable products.
However, governments are easing off the regulations along with initiating mass vaccination drives. The consumer demand has started increasing and the market is expected to recoup soon.
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The global cotton personal-care product market is segmented on the basis of product type, distribution channel, and region. By product type, furthermore, the market is divided into cotton swabs, cotton cosmetic pads, cotton wet wipes, sterile cotton balls, cotton rolls and others. The cotton wet wipes segment accounted for the largest revenue share in 2020, with around half of the market. In addition, the segment is estimated to lead the trail throughout the forecast period. On the other hand, the cotton cosmetic pads segment is estimated to cite the highest CAGR of 6.7% during the forecast period.
Based on distribution channel, the cotton personal-care product market is segregated into supermarkets & hypermarkets, convenience store, specialty stores and online sales channel. The specialty stores segment held the highest market share in 2020, accounting for nearly two-fourths of the market. The segment, furthermore, is expected to rule the roost by the end of 2028. However, the e-commerce segment is expected to exhibit the highest CAGR of 5.9% during the forecast period.
Based on region, the market is studied across Asia-Pacific, Europe, LAMEA, and North America. The Europe region dominated the market with the highest market share, holding around one-third of the total market revenue in 2020. The region would maintain its dominance throughout the forecast period. At the same time, the market across Asia-Pacific is expected to manifest the highest CAGR of 6.2% during the forecast period.
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Market Key Players
The major market players profiled in the global cotton personal-care product market include Degasa, Ecowipes, Harper Hygiene, Marusan, Pelz Group, Precot, Sanitars, The Hartmann Group, Tiras Cotton and U.S. Cotton. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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