Alcohol Wipes Market Expected to Reach $1,137.7 Million by 2030-Allied Market Research

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.

The healthcare industry has expanded significantly over the last two decades, and is one of the world's fastest growing industries. Countries such as the U.S., Switzerland, and Germany spend more than 10% of their GDP on healthcare. Hygiene and sanitation are the critical aspects in the healthcare industry. Thus, alcohol wipes find their major application in the healthcare industry, as they serve as an effective disinfectant and sanitizing solution. Isopropyl is commonly used in alcohol wipes, as it kills pathogens such as Hepatitis B and C, HIV, and bovine viral diarrhea virus.

The alcohol wipes market segmentation is done on the basis of fabric material, end user, distribution channel, and region. Depending on fabric material, the market is categorized into natural and synthetic. By end user, it is fragmented into personal & household and commercial. According to distribution channel, it is segregated into supermarkets & hypermarkets, specialty stores, e-commerce, and others. Region wise, the alcohol wipes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

As per the alcohol wipes market analysis, by fabric material, the synthetic segment was highest revenue contributor in 2020, as synthetic fabric is light in weight, resistant to heat, absorbent, and soft. As per the alcohol wipes market trends, depending on end user, the commercial segment garnered the largest share, due to increase in demand of alcohol wipes from healthcare industry. According to the alcohol wipes market forecast, on the basis of distribution channel, the specialty stores segment dominated the global market, as specialty stores sell specialized products on large scale, thereby boosting the adoption of alcohol wipes. Moreover, Europe region has seen as the leading region in this market due to rising awareness among consumer towards cleanliness and sanitization.

The demand for alcohol wipes is increasing, awareness about the importance of cleaning medical devices in hospitals and clinics is increasing. Cleaning medical equipment is a top priority for hospitals, particularly in ICUs and operating rooms (OTs), where the presence of any bacteria or virus can endanger the patient's health. Hence, disinfecting properties of the alcohol wipes is responsible for driving the global alcohol wipes market growth.

Moreover, increase in use of these wipes for cleaning in the food & beverage industries is expected to fuel the market growth. The use of alcohol wipes has increased as the number of rules and regulations towards cleanliness and safety in the food manufacturing industry has increased, as they are used for eradicating fungus, bacteria, and viruses as well as removing oil, grease, and dirt.

Furthermore, the key factors driving the growth of the alcohol wipes market include increase in awareness about the use of wipes and maintaining optimal hygiene, surge in demand from the healthcare industry for sanitizing medical equipment, and ease of carrying during outdoor activities.

According to Aniket Kadam, Senior Research Analyst, Consumers Goods at Allied Market Research, “The introduction of novel products is critical in capturing the attention of consumers. The demand for hygiene and sanitation solutions across various end-user industries drives the growth of the alcohol wipes market. In addition, increase in incidence of chronic disease is expected to boost sales of alcohol wipes. Furthermore, due to the unexpected outbreak of the COVID-19 pandemic, alcohol wipes are in high demand. Thus, COVID-19 had a positive impact on the growth of the global alcohol wipes market.”

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.

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%.