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Alcohol Wipes Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global alcohol wipes products market was valued at USD 3.1 billion in 2022 and is projected to expand at a CAGR of 5.5% from 2023 to 2030. Growing awareness regarding cleanliness and personal hygiene is driving the market growth. Alcohol wipes are widely used in various sectors, such as hospitals and medical facilities, households, and commercial settings, due to their efficacy in killing germs and viruses. Moreover, the demand for these products is increasing due to the COVID-19 pandemic, as they are known to be effective in reducing the transmission of the virus. In addition, the rising trend of alcohol wipes used for cleaning in households is driving the market growth.
The rising awareness regarding the health and safety of individuals is driving the demand for alcohol wipes. Increasing health consciousness and the growing awareness of hygiene are encouraging people to use alcohol wipes for cleaning hands. Furthermore, the growing number of lifestyle-related diseases is driving people to take precautions, thus increasing the demand for these products. Additionally, the rising awareness regarding the quality of food and the need for better hygiene are driving the demand for alcohol wipes in the food industry.
The increasing number of product launches to cater to the growing product demand from customers is expected to further support the growth of the market. For instance, in April 2021, Clorox launched Clorox Healthcare Bleach Germicidal Alcohol Wipes, which are designed to be used in a variety of medical and non-medical settings. The product is said to provide effective cleaning and disinfection. Furthermore, the rising number of mergers and acquisitions between key players will further boost the market growth. For instance, in December 2021, Henkel acquired the specialty chemicals business of Lonza, which includes its consumer wipes business.
The rising number of e-commerce platforms is also driving the market growth. The availability of a wide variety of these products online is accelerating the demand. The e-commerce platform further provides various offers on these products, which is boosting online sales. Furthermore, the increasing number of collaborations and partnerships between key players to develop advanced products is creating opportunities for the market. For instance, in November 2021, Carpex Technologies, a manufacturer of alcohol-based wipes, signed a collaboration agreement with Kraton Corporation, a leading producer of specialty polymers, to develop and commercialize innovative alcohol wipes.
Product Insights
Alcohol wipes are expected to dominate the market and account for a share of around 43.3% in 2022. Alcohol wipes are used to clean and disinfect medical instruments and surfaces in hospitals, clinics, and laboratories. The rising demand for alcohol wipes from the healthcare industry is expected to drive the market growth in the near future. Additionally, increasing awareness of the benefits associated with alcohol wipes, such as its antiseptic properties, is one of the factors propelling the demand for alcohol wipes globally.
The non-alcohol wipes segment is expected to expand at the fastest CAGR of 8.4% during the forecast period. Non-alcohol wipes are used as a substitute for alcohol wipes and offer similar benefits such as cleaning and disinfecting. They are also used in the food industry and are gaining popularity due to their non-toxic nature. Moreover, the rising demand for non-alcohol wipes from the healthcare industry is further driving the market growth.
Distribution Channel Insights
The supermarkets and hypermarkets segment dominated the market in 2022, with a share of over 50%. The growth of the segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase alcohol wipes products. According to a study by the American Cleaning Institute, over 85% of consumers surveyed in the U.S. prefer to purchase alcohol wipes products from supermarkets & hypermarkets. These establishments also provide a reasonable selection of products and assist customers in making rapid purchasing decisions for the required alcohol wipes product.
The drug stores segment is anticipated to expand at a CAGR of 8.3% over the forecast period. Drug stores are one of the most preferred stores for buying alcohol wipes products. The drug stores have higher shelf space for alcohol wipes products compared to supermarkets & hypermarkets. In addition, drug stores are more likely to have sales and discounts on alcohol wipes products compared to other stores.
Type Insights
The alcohol wipes segment accounted for the largest revenue share of 43.3% in the year 2022. The increased awareness about hygiene and sanitation in the wake of the rising number of pandemics is the key driver of the market. Furthermore, alcohol wipes are extensively used in the healthcare sector, which is further driving the market. The rising demand for efficient hygiene products from the healthcare industry is expected to drive the market for alcohol wipes.
The non-alcoholic wipes segment is expected to register a higher CAGR of 15.2% over the forecast period. The growing demand for natural, non-toxic, and skin-friendly products is propelling the demand for non-alcoholic wipes. For instance, in January 2021, Unilever announced the launch of its new range of non-alcoholic wipes, including antibacterial and sensitive wipes. This product is designed to be gentle on skin and is made of naturally-derived ingredients.
Regional Insights
Europe is expected to dominate the market and account for the largest revenue share of over 34.2% in 2022. The region has an established healthcare infrastructure which is expected to drive the growth of the market. Moreover, the presence of leading players, such as Johnson & Johnson, Procter & Gamble, and Unilever, is further anticipated to spur the growth of the market. For instance, in December 2021, Johnson & Johnson launched its alcohol wipe products in the European market with a focus on the healthcare sector.
North America is expected to witness the second-fastest growth in the coming years. The increasing demand for alcohol wipes on account of the increasing awareness regarding hygiene and cleanliness is expected to drive the growth of the market. For instance, in April 2021, Procter & Gamble launched its alcohol wipes in the U.S. market with a focus on providing a safe and effective solution for the everyday cleaning needs of households.
Financial Projections
In this part of the alcohol wipes products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your alcohol wipes products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an alcohol wipes products business comes from manufacturing and selling the product. The revenue forecast should include assumptions about the volume of sales, pricing, and any discounts available. Additionally, other potential sources of revenue such as distribution fees, licensing, and royalty agreements should be included.
Projecting Expenses
In this section, all the regular expenses related to keeping the alcohol wipes products business running will be described. The list of operating expenses includes raw materials, manufacturing costs, labor costs, packaging, marketing, advertising, and other related costs. Additionally, one should consider other expenses such as administration costs, taxes, legal fees, insurance, and any other miscellaneous expenses.
Key companies & market share insights
Some of the key companies operating in the alcohol wipes market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In October 2022, Procter & Gamble launched an alcohol-based hand wipe.
– In September 2022, Kimberly Clark Corporation launched an alcohol-based surface wipe.
– In June 2022, Clorox launched an alcohol-based multi-surface wipe.
Some of the prominent players in the alcohol wipes market include:
– Procter & Gamble
– Kimberly Clark Corporation
– Clorox
– 3M
– Medline Industries, Inc.
– Johnson & Johnson
– Reckitt Benckiser Group plc
– Dabur International Ltd.
– Dr. Fresh, LLC
– Nice-Pak Products, Inc.
Global Alcohol Wipes Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global alcohol wipes products market based on product type, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Alcohol Wipes
– Non-Alcohol Wipes
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Factors Driving the Growth of the Alcohol Wipes Products Market?
[A]: The increasing demand for alcohol wipes across various applications such as medical, food processing and packaging, and industrial and commercial is driving the growth of the alcohol wipes products market. Growing awareness about personal hygiene and the rising health concerns among people are expected to drive the market growth over the forecast period. Additionally, the increasing demand for alcohol wipes from the healthcare industry is expected to fuel the market growth.
[Q]: Who are the Major Players in the Alcohol Wipes Products Market?
[A]: Some of the major players in the alcohol wipes products market are Procter & Gamble, Reckitt Benckiser Group plc., 3M, Sanitize, Inc., EcoLab, and Medline Industries, Inc.
[Q]: What is the Market Share of Alcohol Wipes by End-Use Application?
[A]: The medical segment is expected to dominate the market and accounts for a share of ~59.0% in 2020. It is expected to remain the largest segment during the forecast period. The segment is projected to reach a market value of US$ 924.1 Mn by 2030. The food processing and packaging segment is expected to register the fastest CAGR of 11.2% over the forecast period.
[Q]: What is the Potential of Product Innovation?
[A]: Product innovation is expected to remain a key factor driving the growth of the alcohol wipes products market. Manufacturers are introducing innovative alcohol wipes products to meet the increasing demand from customers. For instance, in 2020, Procter & Gamble launched an alcohol-free sanitizing wipes called Microban 24, which is effective against bacteria, fungi, and viruses.
[Q]: What are the Major Regional Markets for Alcohol Wipes?
[A]: North America is expected to dominate the market and accounts for a share of ~36.9% in 2020. It is expected to remain the largest market for alcohol wipes over the forecast period. The Asia Pacific region is expected to register the fastest growth rate over the forecast period. The growing demand for alcohol wipes in the region is attributed to the increasing demand from the healthcare industry.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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