Maximizing Profits in the Cotton Pads Market While Reducing Costs
Cotton pads are made from raw cotton and are widely used in the cosmetics and medical sectors, across the globe. These pads are majorly used for face cleansing and to prevent bleeding from skin cuts and injuries. Moreover, usage of cotton pads for makeup application and removal has gained traction since the last few years.
The global cotton pads market is estimated to surpass US$ 806.3 million by the end of 2027 in terms of revenue, exhibiting a CAGR of 5.0% during the forecast period (2020 to 2027).
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Drivers
Rising awareness among the millennial population about personal care and hygiene is expected to boost demand for cotton pads in the upcoming years. Furthermore, long fiber cotton having ability to absorb more oil and other liquid make them well-suited for several cosmetic applications.
Moreover, increasing disposable income of the working population has fueled demand for cosmetics products, thereby, generating demand for cotton pads. For instance, according to the Organization for Economic Co-operation and Development, per capita, disposable income in European Union was valued at US$ 33,399 in 2018, which increased to US$ 34,355 in 2019.
Market Trends
On account of excessive water consumption by the cotton plants, the adoption of reusable cotton pads is gaining traction across the cosmetics and pharmaceutical sectors. For instance, according to the article published on February 7, 2017, by Water Footprint Calculator, the water footprint for 1 pound of cotton is around 1,320 gallons. Thus, players operating in this market are expected to develop advanced reusable cotton pads with varied properties, depending upon their end application.
Global Cotton Pads Market – Impact of Coronavirus (COVID-19) Pandemic
The global market for cotton pads has been impacted due to the ongoing COVID-19 pandemic. Several governments across the globe have imposed nationwide lockdowns to limit the spread of the virus, which resulted in the shutting down of businesses and ceasing of several economic activities. According to the International Monetary Fund’s 2020 report, the global economy is expected to contract sharply by 3.0% in 2020, which is worse than the 2008-09 financial crisis. Moreover, reduced demand for cosmetics has indirectly led to low demand for cotton pads across the cosmetics sector. For instance, in 2020, L’Oréal, the world’s largest cosmetic manufacturer, witnessed a sharp decline of 7.7%, 4.8%, and 3.7% in growth across Western Europe, North America, and the Asia Pacific regions.
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Competitive Section
Key players operating in the global cotton pads market include 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.
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