Disposable Face Mask Market Is Estimated To Witness High Growth Owing To Demand For Protective Equipment Against Airborne Diseases
Disposable face masks, also known as surgical masks, are personal protective equipment used by medical practitioners and healthcare professionals. They are designed to be worn by people who are sick to help prevent spreading the infection to others through respiratory droplets produced during coughing, sneezing and talking. These disposable masks also help protect healthy individuals from contracting infections in crowded areas and healthcare settings. The demand for such masks witnessed an exponential rise during the COVID-19 pandemic as a preventive measure against the spread of SARS-CoV-2 virus.
The global Disposable Face Mask Market is estimated to be valued at Us$ 45.07 Bn in 2023 and is expected to exhibit a CAGR Of 6.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
One key opportunity driving the growth of the disposable face mask market is the rising incidence of airborne diseases across the globe. Airborne diseases such as pneumonia, influenza, tuberculosis and meningitis transmit through droplets or dust in the air. According to the estimates of World Health Organization, airborne infectious diseases account for approximately 15% of annual deaths worldwide. The use of protective masks help curb the spread of such diseases. With increasing awareness about preventive healthcare against infectious respiratory illnesses, the demand for disposable face masks is expected to continue surging over the forecast period. This presents lucrative prospects for manufacturers in the disposable face mask market.
Porter's Analysis
Threat of new entrants: The disposable face mask market requires high capital investment and technical know-how for manufacturing operations. Established players have strong brand equity and economies of scale which poses barriers for new entrants.
Bargaining power of buyers: The disposable face mask market has numerous buyers globally including consumers, hospitals, clinics and pharmacies. However, the need for masks during the ongoing pandemic has concentrated buyers' power.
Bargaining power of suppliers: Key raw materials required are non-woven fabric and nose strips. The market has several suppliers for these materials with no single supplier having significant influence.
Threat of new substitutes: There exist no close substitutes for disposable face masks. Reusable cloth masks are complementary but not a replacement.
Competitive rivalry: The market is highly fragmented with numerous global and local manufacturers. Players compete based on pricing, product quality, innovation and partnerships with distributors.
SWOT Analysis
Strengths: High demand for masks during the ongoing pandemic, ease of use and disposal of disposable masks, affordability.
Weaknesses: Concerns over environmental impact of disposed masks, quality deficiencies of some local manufacturers.
Opportunities: Scope for varieties such as N95, kids and branded masks. Growing focus on health and wellness boosts demand.
Threats: Potential oversupply if pandemic is controlled, stringent regulations over usage.
Key Takeaways
The Global Disposable Face Mask Market Demand is expected to witness high growth in the forecast period due to continued spread of COVID-19 variants.
Regional Analysis:
The Asia Pacific region dominates the market with China, South Korea and India being the major producers and consumers. Regional production and exports from Asia are expected to increase further with rising global demand.
Key players operating in the disposable face mask market are Garden of Life, Optimum Nutrition, Metamucil, Citrucel, Nature's Way, Walgreens, CVS Pharmacy, Renew Life, Rainbow Light, Culturelle, Align Probiotics, Phillips, Schiff, Nature Made, Puritan's Pride, Now Foods, Solaray, Heather's Tummy Care, Viva Naturals, Prescript-Assist. These players are focusing on expanding their manufacturing capacities and distribution networks to cater to the huge demand globally.
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