Global Megatrends affecting the Nonwovens Industry
High standard of living, aging population will lead to nonwovens growth.
The Global Market
The global nonwovens market has reached about €26 billion ($29 billion) and is projected to grow about 5% per year due to global megatrends.
Rising Demand for Nonwovens
The demand for nonwovens used in wipes, hygiene and medical products is increasing roughly 5% annually across the globe, with demand in emerging markets growing at 7-8% annually and developed markets at a slightly lower level, growing 2-6% per year.
Higher Standard of Living
As there’s a rise in the standard of living, there’s a rise in the demand for hygiene products, including disposable sanitary napkins and disposable diapers. By the year 2020, it’s estimated that 2.1 billion people will make up the global middle class, and this group will become the consumer group with the highest purchasing power in the world. This demographic is expected to use solutions that save time and make daily routines easier.
Aging Population
According to a UN report, people over age 60 will make up a little more than 20% of the global population by the year 2050. The demand and need for incontinence products are expected to rise as a result, especially as the aging population stays active for longer.
Millennials: A different generation
Millennials, those born between 1980 and 2000, are expected to be the largest living population in the U.S. This group focuses on a different set of priorities and expectations than previous generations, one example being the desire for product transparency. To address this, retail giant Amazon recently came out with its own brand of diapers and wipes—called Elements—which offer an unprecedented level of information to the customer—when and where items were made, why each ingredient was included, where the ingredients were source, etc. While the diapers were pulled from the line for design improvements, consumers and the industry took great interest in the transparent approach.
Thinking Green
As topics such as the environment and climate change increasingly top headlines, consumers are seeking more eco-friendly products. Players in the nonwovens industry are heeding the call by implementing more environmentally sustainable solutions in the ways they conduct their businesses in addition to the end products themselves.