The global cosmetic wipes market is expected to expand at a sluggish 2.8% CAGR throughout the forecast period between 2020 and 2030. Following the outbreak of the COVID-19 virus, governments around the world have imposed restrictions on movement and transport. In addition, numerous non-essential businesses and industries including those in the beauty and personal care sector have been forced to temporarily suspend operations. These factors will moderately impact the cosmetic wipes market through the end of the pandemic.
Also, the pandemic has resulted in substantial disruptions to supply chains and inventories, which will hinder sales in the near term.
Market players are expected to invest resources on online channels of distribution in an effort to reduce losses during the crisis period. The demand for cosmetic wipes is anticipated to gradually return to post pandemic levels once restrictions are removed.
The personal care industry slumped substantially following the coronavirus pandemic. Disposable income has largely been focused on essential commodities and the cosmetic wipes market has been influenced by changes in consumer bias towards reliable, contaminant-free products. Automated production processes will gain traction in the near future, and generate higher profitability through and after the pandemic.
Cosmetic Wipes Market – Important Takeaways
- Wet wipe products remain highly sought after owing to product convenience, and higher efficacy in cleaning processes.
- Convenience stores are the primary distribution channels for cosmetic wipes. However, e-commerce is rapidly gaining traction owing to shopping convenience.
- Moisturizing wipes are gaining popularity among consumers, while cleaning wipes are displaying major remunerative opportunities.
- North America has emerged as a major regional market for cosmetic wipes owing to higher hygiene awareness and personal care applications. Europe is displaying high growth with popularity of products for male and female demographics.
Cosmetic Wipes Market – Driving Factors
- Affordability, hygiene, convenience, and aesthetic characteristics, positively influence the cosmetic wipes market.
- Portability of cosmetic wipes, and their ease of use is a critical factor that sustains sales of cosmetic wipes.
- Introduction of cosmetic wipes with a wide range of colors and fragrances aids market growth.
Cosmetic Wipes Market – Leading Constraints
- Skin health risks associated with chemical ingredients in cosmetic wipes are set to hinder adoption rates.
- Inflationary trends associated with cosmetic wipe products is an obstacle for market players.
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Anticipated Market Impact by Coronavirus Outbreak
Strict stay at home orders and restrictions on non-essential businesses in the beauty and personal care sector such as salons, will have a substantial impact on the sales of cosmetic wipes.
In addition, breakdown of supply chains will impact production and will hurt inventories among manufacturers and retailers alike. These trends will have a moderate impact on the cosmetic wipes market through the end of the pandemic.
On the other hand, the COVID-19 pandemic will result in higher popularity of DIY beauty and personal care processes.
Consequently, online channels of sales will be instrumental in sustaining operations in the months to come, till movement restrictions on the general population are relaxed.
Manufacturers in the cosmetic wipes market are pushing for geographical expansion and strategic pricing efforts.
In addition, manufacturers are also developing natural and organic product offerings to meet changing consumer requirements. For instance, Unilever, has launched new range of compostable cleaning wipes in early 2020 as a part of their Sustainable Living Plan.
Similarly, Beautycounter has launched cornflower and wood pulp based cosmetic wipes.
Major players in the industry included but are not limited to Diamond Wipes International, Johnson & Johnson, Beiersdorf, Henan Group, Rockline Industries, Procter & Gamble, Albaad Massuot, Kimberly Clarke, Kylie Skin, and Nice-Pak Products.