10.17.22
The global cosmetic wipes market is projected to grow at a staggering 5% value CAGR, reaching $950 million, following an assessment period ranging from 2022-2032.
Per a newly published report on this industry by Fact.MR, a valuation of $581.91 million has been anticipated during fiscal year 2022.
From 2017-2021, demand for cosmetic wipes flourished at a growth rate of 4.3%, concluding at $565.73 million. Demand for cosmetic wipes has continued to grow, especially due to rising disposable incomes and boosting consumer spending power. It has enabled consumers to use convenient products that were once considered non-essential.
Cosmetic wipes are popularly known as pocket-friendly tissues used for face cleansing purposes and easy to use. They also come in handy packages with various aromas that give a refreshing feeling to the user. Wipes allow performing daily tasks in substantially less time for most people who are held up in their day-to-day activities due to extreme job pressure and increased children activities.
Cleansing and makeup removal wipes continue to be the most profitable segment, accounting for 40% of global revenue. In recent years, the cosmetic industry has witnessed significant transformation due to the introduction of color cosmetics. This has increased the consumption of cosmetics across different age groups and has given rise to the demand for beauty wipes.
Due to the harsh nature of chemicals used in many cosmetics, dermatologists recommend following a proper skincare routine, starting with proper makeup removal. Makeup removal wipes not only act as cleansers, but also hydrate the skin and restore its natural properties to prevent potential skin disorders. As a result, major manufacturers are focusing on manufacturing natural makeup removal wipes that have low chemical content. This is expected to drive demand for moisturizing cosmetic wipes, exfoliating wipes, and non-woven fabric cosmetic wipes over the coming years.
Key Takeaways from the Market Study
Europe is expected to emerge as one of the most opportunistic markets, witnessing a significant growth rate throughout the forecast period 2022-2032. The global market is highly fragmented with the presence of a large number of local and regional players. Market players are concentrating on product launches to broaden their market footprints.
In March 2022, Procter & Gamble created a new Specialty Beauty division for high-end products under its global P&G Beauty business. Brands under the new umbrella will include P&G's big three recent acquisitions, Ouai, Tula Skincare, and Farmacy, as well as the 2018 purchase of First Aid Beauty.
In September 2021, Nice-Pak Products, a prominent player manufactures facial cleaning towelettes which are designed for easy and effective make-up removal. The company uses plant-based fibers to manufacture these wipes which are 100% sustainable to provide superior cleaning.
In December 2021, Kylie Skin introduced its new line of Makeup Removing Wipes. These towelettes are safe for sensitive skin and enable the users to wipe away waterproof eye, lip, and face makeup.
These insights are based on a report on Cosmetic Wipes Market by Fact.MR can be viewed here.
