by Cotton pads have witnessed increasing adoption in personal care applications including makeup removal, face hydration, exfoliation and cleansing for various skin types. Cotton pads provide gentle cleansing and absorption without causing irritation. They are effective at removing dirt, oil and excess sebum from the skin without disrupting the skin’s natural protective barrier. Cotton pads are also used for cotton swab applications like cleaning ears, applying medicine to infections, cuts or wounds. Moreover, they are commonly used to apply skin lightening creams, anti-aging creams and acne treatments. Rising consumer awareness regarding personal hygiene and grooming along with the growth of the skincare and beauty industry has boosted the demand for cotton pads significantly. The global cotton pads market is estimated to be valued at US$ 803.4 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Organic and sustainable cotton pads are gaining increased popularity due to rising environmental consciousness among consumers. Major brands are emphasizing on utilizing organic cotton sourced from non-GMO cotton plants which are grown without the usage of synthetic pesticides and fertilizers. Organic cotton pads are marketed as being hypoallergenic and safer for sensitive skin. Furthermore, industry players have introduced compostable and biodegradable cotton pads made from materials like bamboo, hemp and plant-based cellulose to reduce plastic waste. They are pitched as being better for the environment as they break down without releasing greenhouse gases. The trend towards eco-friendly cotton pads is expected to continue and drive the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the cotton pads market is low due to high capital requirement for production and strong brand recognition of established players.
Bargaining power of buyers: The bargaining power of buyers is high owing to the presence of various suppliers providing comparable products. Buyers can switch between suppliers and compare pricing.
Bargaining power of suppliers: A few companies operate globally and dominate the supply market. This leads to high bargaining power of suppliers in the cotton pads market.
Threat of new substitutes: Products such as paper towels, wet wipes, and napkins are substitutes for cotton pads. However, the threat is moderate due to product differentiation and brand loyalty.
Competitive rivalry: With the presence of major global and regional players, the competitive rivalry in the market is high. Players compete on pricing, branding, and marketing strategies.
Key Takeaways
The global cotton pads market is expected to witness high growth at a CAGR of 7.6% during the forecast period of 2023 to 2030. Regional analysis
The Asia Pacific region is expected to dominate the cotton pads market owing to high demand from countries like India and China. Abundant raw material availability and lower production costs have stimulated market growth in this region.
Key players
Key players operating in the cotton pads market are Mitsui Chemicals, Inc., Exxon Mobil Corporation, Japan Polypropylene Corporation, SABIC, Sumitomo Chemical Co., Ltd., and Washington Penn. Players compete on pricing, branding, and marketing strategies to increase their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
