Disposable face masks are primarily used to prevent the spread of infectious diseases, allergens and airborne particulates. They help to protect the wearer from large droplets, splashes, and airborne particles and filter out particles. The growing concerns related to air and water pollution has fueled the demand for face masks globally. The global disposable face mask market is estimated to be valued at US$ 45.70 Bn in 2023 and is expected to exhibit a CAGR of -10.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity for increased usage amidst COVID-19 pandemic is expected to drive the market growth significantly over the forecast period. As the global spread of COVID-19 continues, the demand for protective products like disposable face masks has increased drastically. Several healthcare organizations and government bodies recommend the general public to wear face masks in public places to minimize the spread of the virus. With no immediate availability of a vaccine, face masks play a vital role in limiting community transmission. This has boosted the sales of disposable face masks across various end-use sectors like hospitals and clinics, food and beverage, construction, manufacturing and others. Increased spending on masks is likely to continue post pandemic as well, thus driving the disposable face mask market.
Porter's Analysis
Threat of new entrants: The disposable face mask market has moderate threat of new entrants due to the high capital requirements and stringent regulations. However, new players focusing on value-added masks can enter with limited threat.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of numerous substitutes and low switching costs. Buyers can negotiate on price and quality.
Bargaining power of suppliers: A few companies dominate the production of raw materials used in masks. This gives them bargaining power over mask manufacturers.
Threat of new substitutes: Reusable cloth and silicone masks are substitutes, but have limitations of washing and repeated use. Hence threat is medium.
Competitive rivalry: The market has numerous global and regional players competing on pricing, innovation, and supply reliability.
SWOT Analysis
Strength: Wide applications in individual and industrial hygiene. Strong demand during COVID pandemic.
Weakness: Fluctuating raw material prices. Short shelf life raises storage and supply issues.
Opportunity: Growing awareness on airborne diseases boosts sales. Expanding e-commerce channels aid markets.
Threats: Stringent regulations on production quality impact costs. Concerns over improper disposal as non-biodegradable waste.
Key Takeaways
The Global Disposable Face Mask Market Share is expected to witness high growth at a CAGR of -10.2% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 45.70 Bn by 2023.
Regional analysis: Asia Pacific currently dominates the global market due to large manufacturing capacities in China and India. The region is estimated to grow at over 12% till 2030 on the back of rising health awareness. North America is another major market propelled by regulations mandating masks in workplaces.
Key players: Key players operating in the disposable face mask market are Kimberly-Clark, 3M Company, uvex group, The Gerson Company, Kowa Company Ltd., Moldex-Metric Inc., Bunzl PLC (SAS Safety Corp.), and Honeywell International Inc., among others. They focus on expanding production capacities, acquiring smaller brands, and launching variant designs to strengthen their positions.
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https://www.newswirestats.com/disposable-face-mask-market-size-share-growth-outlook-2023/
