Cosmetic Wipes Market Projected to Garner Significant Revenues by 2030
Verfasser: ashwani_kailiya on Friday, 4 September 2020The global cosmetic wipes market is expected to expand at a sluggish 2.8% CAGR throughout the forecast period between 2020 and 2030. Following the outbreak of the COVID-19 virus, governments around the world have imposed restrictions on movement and transport. In addition, numerous non-essential businesses and industries including those in the beauty and personal care sector have been forced to temporarily suspend operations. These factors will moderately impact the cosmetic wipes market through the end of the pandemic.
Also, the pandemic has resulted in substantial disruptions to supply chains and inventories, which will hinder sales in the near term. Market players are expected to invest resources on online channels of distribution in an effort to reduce losses during the crisis period. The demand for cosmetic wipes is anticipated to gradually return to post pandemic levels once restrictions are removed.
"The personal care industry slumped substantially following the coronavirus pandemic. Disposable income has largely been focused on essential commodities and the cosmetic wipes market has been influenced by changes in consumer bias towards reliable, contaminant-free products. Automated production processes will gain traction in the near future, and generate higher profitability through and after the pandemic," says the FACT.MR analyst.