Increase in concerns for safety and hygiene, rise in awareness about hygiene among healthcare service providers, and growing number of end user and need for gloves have boosted the growth of the global gloves market
PORTLAND, Ore., April 14, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Gloves Market by Type (Disposable Sterile Gloves, Disposable examination and protective gloves, and Consumer gloves), and Industry (Medical, Horeca (food), Cleaning, Beauty, Food and Drinks, Pharmaceutical, Chemical, Automotive, Electronics, Construction, and Others): Global Opportunity Analysis and Industry Forecast 2021–2025". As per the report, the global gloves industry was accounted for $48.01 billion in 2017, and is projected to reach $118.50 billion by 2025, growing at a CAGR of 8.6% from 2021 to 2025.
Major determinants of the market growth
Increase in concerns for safety and hygiene, advancements in technology, rise in awareness about hygiene among healthcare service providers, and growing number of end user and need for gloves have boosted the growth of the global gloves market. However, high price competition and toxic reaction to certain types of gloves hinder the market growth. On the contrary, untapped market in emerging economies is estimated to open lucrative opportunities for the market players in the future.
The demand for gloves increased during the Covid-19 pandemic due to rise in need for them from food industry to maintain hygiene.
Due to the Covid-19 outbreak, the demand for gloves as a part of the PPE kit increased for surgical purposes and personal use.
The increased demand for disposable gloves due to the Covid-19 pandemic, in turn opens opportunities for market players for expanding the manufacturing of disposable gloves.
The disposable examination and protective gloves segment held the largest share
By type, the disposable examination and protective gloves segment dominated the market growth in 2019, accounting for more than three-fifths of the global gloves market. Moreover, the segment is estimated to register the highest CAGR of 8.9% during the forecast period, due to rise in infectious and chronic diseases across the globe such as COVID-19, swine flues, and hepatitis.
The food and drinks segment to manifest the highest CAGR through 2025
By industry, the food and drinks segment would portray the highest CAGR of 12.5% during the forecast period, due to growth of the food industry and rise in restaurants based on various cultures across the globe. However, the medical segment accounted for the highest share in 2019, holding nearly two-fifths of the global gloves market, owing to the wider use of medical gloves in hospitals and surgeries across the globe.
Europe, followed by North America, held the lion's share
By region, the global gloves market across Europe, followed by North America, held the largest share in 2019, contributing to around one-third of the market. This is due to surge in medical tourism, and presence of large key players in Europe. However, the market across Asia-Pacific is estimated to register the highest CAGR of 9.4% during the forecast period, owing to surge in imports from the Asian markets.
Major market players
Semperit AG Holding
Cardinal Health, Inc.
Honeywell International Inc.
Hartalega Holdings Berhad
Kossan Rubber Industries Bhd
Top Glove Corp. Bhd
rubberex corporation (m) berhad
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