According to the latest report published by Credence Research, Inc. “Global Cotton Buds Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global cotton buds market accounted for a volume of 543.75 Bn units in 2017, expanding at a CAGR of 3.4% from 2018 to 2026.
Market Insights :
The global cotton buds market accounted for 543.75 Bn units in 2017 growing with a CAGR of 3.4% during the forecast period from 2018 to 2026. Factors such as rising population, increasing hygiene awareness, and increasing per capita expenditure of consumers identified as major drivers in the market. However, factors such as increasing awareness on disadvantages of using cotton buds for ear cleaning coupled with rising concern over mitigating marine plastic waste in Europe especially, expected to hamper the overall market growth. Used cotton buds with plastic spindle are disposed in the toilets that escape through sewage and mix with water bodies making cotton buds as the most pervasive forms of marine pollution, motivating manufacturers to switch from plastic cotton buds to rolled paper cotton buds. For instance, Jhonson & Jhonson, a leading manufacturer of cotton buds is transitioning from plastic to rolled paper cotton buds in half of the world to support the on-going movement against plastic cotton buds in Europe.
Rolled paper and extruded plastics also made their way into the market where rolled paper contained heavy paper gauge over which the cotton swab was rolled. Plastic (extruded ones) gained immense popularity in comparison to rolled paper and wood. In the extruded plastic stick, an extra protective plastic cap can be fixed on the other end of spindle, under the cotton coating. This acts like a cushioning element and protects the stick tip’s possible protrusion that can damage the rolled cotton swab. Factors affecting growth are high rate of urbanization, increasing number of outlet channels and easy availability of product. Furthermore, the manufacturers are diversifying their product range from adult-centric to baby-infant-children centric that helps in growth of sales. The potential side effects of traditional plastic cotton buds have contributed to rise in demand for organic products. Several manufacturers have already introduced environment friendly cotton buds manufactured from chemical free organic cotton and rolled paper as spindle. Rising environmental concerns, consumer shift towards natural products, and risk associated with the chemically synthesized cotton buds has given rise to the demand for 100% organic cotton buds across the globe.
Manufacturers of cotton buds are mostly located in regions where labor is cheap and raw materials such as birch wood, paper, and plastics are readily available. Therefore, countries such as China, Japan, and U.S. is the manufacturing hub for cotton buds. Based on geography, North America held a significant share in the cotton buds market in 2017. On the other Asia-Pacific is projected to be the fastest growing region throughout the forecast period. Developing economies are equipped with low cost of labor and raw material availability that eventually paves the way for manufacturing opportunities. Apart from being captive centers for the developed economies, the developing economies bring in major bi-lateral trade and human capital exchange. India, China, Brazil, Nigeria, Angola, and Mexico amongst others provide low capital expenditure cotton bud manufacturing centers that can also be treated as export hubs for the developed nations like U.K., Japan, and U.S. amongst others. China, India, Bangladesh, Indonesia often provide attractive opportunities to the major players of cotton buds market to set up manufacturing stations. Considering the FDI (Foreign Direct Investments) from developing economies, the Foreign Investor Institutions (FII) often develop strategic bilateral relations which can help prosper the needy nations.
Key market players in the global automotive refinish coating market include Jhonson & Jhonson, Unilever Ltd., Chicco, Helenvita, Becutan, NUK, Sanyo, Pigeon and Tulip.
Source : GLOBE NEWSWIRE