Gloves Market Size to Exceed $35.02 Billion, by 2025 at 10.3% CAGR
Pune, Maharashtra, India, February 10 2021 (Wiredrelease) Allied Analytics –:Allied Market Research published a report, titled, “Gloves Market by Type (Disposable Sterile Gloves, Disposable examination and protective gloves, and Consumer gloves), and Industry (Medical, Horeca (food), Cleaning, Beauty, Food and Drinks, Pharmaceutical, Chemical, Automotive, Electronics, Construction, and Others): Global Opportunity Analysis and Industry Forecast 2021–2025.” According to the report, the global gloves industry was estimated at $11.46 billion in 2017, and is anticipated to hit $35.02 billion by 2025, registering a CAGR of 10.3% from 2021 to 2025.
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Drivers, restraints, and opportunities-
Increase in concerns regarding safety and hygiene, rise in rubber production, and surge in the number of end users fuel the growth of the global gloves market. On the other hand, toxic reaction to certain gloves and high price competition are projected to impede the growth to some extent. Nevertheless, developing economies and untapped markets are expected to pave the way for lucrative growth opportunities for the key players in the industry.
The outbreak of the pandemic led to a steep increase in demand for hand gloves from the healthcare and food sector, as gloves play a major role in controlling the cross-transmission. On the other hand, disrupted supply chain across the globe hampered the global gloves market to a certain extent. But, since the government bodies in different countries are easing off the existing regulations, the market is expected to recoup soon.
The disposable examination and protective gloves segment to dominate by 2025-
Based on type, the disposable examination and protective gloves segment contributed to more than half of the global gloves market share in 2017, and is expected to lead the trail by 2025. The same segment would also grow at the fastest CAGR of 11.8% throughout the forecast period. Increase in infectious and chronic disease across the globe such as COVID-19, swine flues, hepatitis propels the growth of the segment.
The medical segment to maintain the dominant share-
Based on industries, the medical segment accounted for more than one-fifth of the global gloves market revenue in 2017, and is anticipated to rule the roost by the end of 2025, due to extensive use of medical gloves in hospitals. The food and drinks segment, on the other hand, would exhibit the fastest CAGR of 11.8% during the forecast period. Developments in the food industry in accordance with various cultures across the globe drive the segment growth.
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Europe, followed by North America, garnered the major share in 2017-
Based on region, Europe, followed by North America, garnered the major share in 2017, garnering around one-third of the global gloves market, due to rise in medical tourism and presence of large key players in the continent. At the same time, the market across Asia-Pacific would showcase the fastest CAGR of 11.1% from 2021 to 2025, due to the increasing imports from the Asian markets.
Key players in the industry-
Ansell Ltd. Cardinal Health, Inc. Semperit AG Holding Hartalega Holdings Berhad Honeywell International Inc. Top Glove Corp. Bhd. 3M Co. Kossan Rubber Industries Bhd Kimberly-Clark Corp. rubberex corporation (m) berhad
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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