According to a new report published by Allied Market Research, titled, “Alcohol Wipes Market by Fabric Material, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the alcohol wipes market size is expected to reach $1,137.7 million by 2030 at a CAGR of 7.3% from 2021 to 2030.
Alcohol wipes are as effective as hand rubs in inhibiting the growth of disease-causing microbes. Higher alcohol content equates to greater germ-killing power. In addition, these wipes contain a small amount of detergent to help clean oily debris. Although the alcohol concentration in alcohol wipes is strong enough to destroy microbe cell membranes, it is not strong enough to affect human skin cells. They are made of cellulose, polyester, or another absorbent fabric that is intended to collect germ debris.
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Key findings of the study
The global alcohol wipes market was valued at $568.0 million in 2020, and is projected to reach $1,137.7 million by 2030, registering a CAGR of 7.3% from 2021 to 2030.
By fabric material, the synthetic segment was the highest contributor to the market, with $372.1 million in 2020, and is estimated to reach $724.0 million by 2030, at a CAGR of 7.0% during the forecast period.
By end user, the commercial segment was the highest contributor to the market, with $350.8 million in 2020, and is estimated to reach $719.6 million by 2030, at a CAGR of 7.5% during the forecast period.
By distribution channel, the specialty stores segment was the highest contributor to the market, with $223.1 million in 2020, and is estimated to reach $423.0 million by 2030, at a CAGR of 6.7% during the forecast period.
By region, Europe was the highest revenue contributor, accounting for $189.7 million in 2020, and is estimated to reach $356.1 million by 2030, with a CAGR of 6.6%.
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The isopropyl content of alcohol wipes ranges from 70% to 100%, which can be hazardous to children. In addition, the use of isopropyl-containing alcohol wipes can cause itching and redness in skin. Owing of their high alcoholic content, alcohol wipes are flammable. Thus, these factors are expected to act as key restraints of the global alcohol wipes market.
Furthermore, alcohol wipes face an additional challenge as they are non-disposal and can clog drainage systems. To prevent such problems and save aquatic life, the UK Government has banned single-use products. On the contrary, implementation of stringent government regulations regarding product labelling maintains transparency, which is expected to drive market growth during the forecast period.
The key players operating in the global alcohol wipes market include Cardinal Health Inc., CleanFinity Brands, Pal International Ltd., Robinson Healthcare Ltd., The Clorox Co., GAMA Healthcare Ltd., Whitminster International, Diamond Wipes International Inc., Clarisan, 3M Company, GOJO Industries Inc, Honeywell International Inc, Illinois Tool Works Inc, McKesson Cor, and Unilever Group. The key strategies of market players include product launches, mergers & acquisitions, joint ventures, and expansion. Product innovation is being prioritized by prominent market players, who are offering more innovative products to consumers to address various personal hygiene concerns.
The industry is highly competitive, due to the presence of several manufacturers. To attract customer, companies are focusing on introducing novel products such as fragranced wipes. Swago, for example, introduced cologne-scented alcohol wipes for people who do not prefer to carry perfume. Surge in demand for disposable wipes is expected to increase the use of natural fabric material alcohol wipes. In addition, rise in consumer demand for low-cost goods is projected to offer remunerative opportunities for the expansion of the global market during the forecast period. As a result, companies are focusing on product development and pricing, thereby contributing toward the overall market growth.
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