The global facial wipes market to grow at a CAGR of 9% during the period 2016-2020.
Global Facial Wipes Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global facial wipes market. To calculate the market size, the report considers the revenue generated from the retail sales of different types of facial wipes to individual consumers.
One trend gaining popularity in the market is Increased focus on eco-friendly wipes. Currently, rising consumer expectations and pollution figures have necessitated manufacturers of facial wipes to consider the post-consumer life of their products. Therefore, global brands are phasing out microbeads, and many cleansing wipe products are being formulated without plastic bits such as synthetic polymers (polyester) or with sustainable alternatives. In addition, consumers have become aware of the environmental issues and prefer products that are eco-friendly.
According to the report, Smaller packs and multipurpose facial wipes will be driving growth in the market. Convenience and portability are the two major factors considered by consumers when they buy facial wipes. To specifically target the varying needs of consumers, manufacturers of skincare products are introducing smaller or travel-sized packs of facial wipes. These smaller packs are portable and are available at low costs. Such advantages offered by smaller packs create a value proposition for consumers who lead a hectic lifestyle and who travel frequently. Developed markets such as the US, the UK, Germany, Japan, and Australia have a relatively high penetration of smaller packs of facial wipes.
Further, the report states that managing inventory is always a crucial strategy concern for the global beauty products industry. The stocking game rules and perspectives evolve along with changing shopping patterns of consumers. Consumers' preferences change faster, which require faster inventory turnover requirements. Skincare products suppliers or manufacturers then must adjust to smaller orders placed by wholesalers and retailers, and improve inventory turnaround times. This predominantly puts pressure on the manufacturers' raw material, quality control, transportation, and labor costs.