The global market for antimicrobial wipes is expected to witness surging demand in the forthcoming years. Recent study projects to record a CAGR of 10% between 2020 and 2030.
According to a study from Future Market Insights, antimicrobial wipes have gained traction as an effective way of decontaminating. With governments across the world taking initiatives to spread awareness on the importance of hygiene, the demand for different kinds of sanitizers is expected to rise.
While antimicrobial wipes are extensively used across hospitals and healthcare centers, it is also witnessing increasing demand in the household and commercial sectors. Study foresees the market to benefit from the rising focus on innovations among leading players.
In its recent study, FMI offers exhaustive information on the prevailing trends in the global antimicrobial market. It offers insights into hidden opportunities within the market, besides providing recommendations to help the market players plan future growth strategies.
Some of the key factors highlighted in the report are:
The global antimicrobial wipes market is expected to surpass $ 7 billion by the end of 2020
North America, followed by Europe is expected dominate the global antimicrobial wipes market over the forecast period. Despite North America’s dominance, South Asia is expected to emerge as a lucrative market for antimicrobial wipes
South Asia is expected to emerge as a lucrative market, exhibiting growth at a higher CAGR. The rising use of antimicrobial wipes across schools. Hospitals, offices, gyms, and other organizations will aid the expansion of the market in the region
Study projects ecommerce penetration to be a key game changer for the market. With consumers showing a higher degree of inclination towards shopping online an increasing number of companies are expected to spend on creating a robust online presence
Most antimicrobial wipes are meant for single use, which means once used they are to be disposed of. This adds to carbon footprint, aggravating already pressing issues of landfill. Consumers today are also driven by environmental concerns, which has made them more conscientious about components used in their products.
Antimicrobial wipes made from biodegradable materials will gain brownie points since they will serve the dual purpose of decontaminating without causing harm to the nature. This is a defining trend, compelling manufacturers to expand their existing product portfolio.
Some of the key players operating in the antimicrobial wipes market are Crosstex International, Inc., ConvaTec Inc., coVita, The Procter & Gamble Company, Nootie, Hopkins Medical Products, CleanTex, Prodene GmbH, GAMA Healthcare Ltd., Teampac Oyand, Edgewell Personal Care and others.
Manufacturers are significantly spending on product development and ascertaining to safety parameters to gain edge in the market. This has resulted into a slew of product launches. For instance:
In 2019, Eisai Co., Ltd., a Japanese pharmaceutical company launched ETAK antimicrobial wipes (wet) at drug & pharmacy stores worldwide.
In 2019, Edgewell Personal Care developed a wet antibacterial hand wipes containing active ingredient Benzalkonium Chloride which is an antimicrobial agent helping to kill bacteria on skin.
“An increasing number of companies are introducing sustainable antimicrobial wipes. They are also eliminating the use of harmful compounds to make their products eco-friendlier. However, owing to the recent COVID-19 outbreak, the focus on the production of alcohol-based wipes has surged since they offer better disinfection,” says a lead analyst.