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Global Cotton Pads Market connected with increasing consumer spending on healthcare propelling growth

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Gauri Cmi
Global Cotton Pads Market connected with increasing consumer spending on healthcare propelling growth


The global Cotton Pads Market is estimated to be valued at US$ 760.00 Mn in 2023 and is expected to exhibit a CAGR of 5.71% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cotton pads are soft absorbent squares made from cotton which are primarily used for gentle cleansing, makeup removal and skin hydration. They are efficient in absorbing oil, dirt and dead skin cells from the face while being gentle on sensitive skin. Cotton pads provide smooth blemish-free skin and helps preserve the skin's natural oils and moisture. Their gentle exfoliating action aids in hydrating and rejuvenating the skin. The increasing focus on personal grooming and hygiene among consumers has boosted the demand for cotton pads.

Market key trends:

One of the key trends witnessed in the global cotton pads market is the growing focus on usage of natural and organic ingredients. Consumers are increasingly shifting towards natural personal care products to avoid exposure to harsh chemicals. Manufacturers are catering to this demand by introducing cotton pads containing sustainably sourced cotton and essential oils. For instance, eco friendly brands offer cotton pads made from organic cotton which is grown without pesticides. Another major trend is the rising popularity of multi-functional cotton pads. Players have launched cotton pads infused with active ingredients like vitamin E, collagen, green tea which provide extra skincare benefits along with makeup removal and cleansing. Furthermore, the increasing prevalence of e-commerce and availability of cotton pads on online retail platforms have augmented their visibility and accessibility, subsequently boosting market revenues.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate. With high capital investment required for production, new players find it difficult to enter the market. However, the market is fragmented with presence of local players.

Bargaining power of buyers: The bargaining power of buyers is high due to availability of substitutes. Buyers can switch to use of tissues, napkins for makeup removal easily. This gives them negotiating power over price.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Being a raw material, cotton availability is not a major issue. However, suppliers have some control over prices.

Threat of new substitutes: The threat of new substitutes is high. Easy availability of tissues, makeup removal wipes are substituting the use of cotton pads for makeup removal and household cleaning purposes.

Competitive rivalry: The competitive rivalry is high due to presence of numerous regional and international players offering differentiated products.

Key Takeaways

The Global Cotton Pads Market size is expected to reach US$ 760.00 Mn in 2023, exhibiting a CAGR of 5.71% over the forecast period. Growing demand for personal hygiene and cosmetic products is expected to drive the market during the forecast period.

Regionally, North America dominated the global cotton pads market in 2023 and is expected to continue its dominance during the forecast period. High disposable income and awareness about personal care are factors responsible for North America's large market share. Europe is also expected to offer lucrative growth opportunities for cotton pads market.

Key players operating in the cotton pads market are CMC Consumer Medical Care GMBH, Cotton Club, Groupe Lemoine Sanitars, Shiseido Co. Ltd., Sisma S.P.A, TZMO SA, L&R USA Inc., Unicharm Corporation, and PT Cottonindo Ariesta Tbk. These players are focused on expanding their production capabilities and geographical reach to strengthen their market position.

 

Read More: https://www.trendingwebwire.com/cotton-pads-market-analysis/


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