Gloves Market Is Expected to Reach $35.02 Billion by 2025: Says AMR
Rise in concerns regarding safety and hygiene, increase in rubber production, and surge in the number of end users drive the growth of the global gloves market. Based on industry, the medical segment held the largest share in 2017. By region, on the other hand, the market across Europe appeared as the major revenue holder in the same year.
Portland, OR, Jan. 14, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *Gloves Market* was pegged at $11.46 billion in 2017 and is estimated to hit $35.02 billion by 2025, registering a CAGR of 10.3% from 2021 to 2025. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in concerns regarding safety and hygiene, increase in rubber production, and surge in the number of end users drive the growth of the global gloves market. On the other hand, toxic reaction to certain gloves and high price competition are expected to restrain the growth to some extent. However, developing economies and untapped markets are expected to pave the way for lucrative growth opportunities for the frontrunners in the industry.
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*Covid-19 scenario-*
· The outbreak of civid-19 led to a steep hike in demand for hand gloves from the healthcare and food sector, as gloves play a major role in checking the cross-transmission.
· On the other hand, disrupted supply chain across the world 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 anticipated to get back to its previous stance soon.
The global gloves market is analyzed across type, industry, and region. Based on type, the disposable examination and protective gloves segment accounted for more than half of the total 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% during the forecast period.
Based on industry, the medical segment contributed to more than one-fifth of the global gloves market revenue in 2017, and is expected to dominate by the end of 2025. Simultaneously, the food and drinks segment would manifest the fastest CAGR of 11.8% from 2021 to 2025.
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Based on geography, Europe held the major share in 2017, generating around one-third of the global gloves market. At the same time, the market across Asia-Pacific would manifest the fastest CAGR of 11.1% throughout the forecast period. The other two regions covered in the report include North America and LAMEA.
The leading market players analyzed in the global gloves market report include 3M Co., Ansell Ltd., Cardinal Health, Inc., Semperit AG Holding, Hartalega Holdings Berhad, Honeywell International Inc., Kimberly-Clark Corp., Kossan Rubber Industries Bhd, rubberex corporation (m) berhad, and Top Glove Corp. Bhd. These market players have taken recourse to different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their stand in the industry.
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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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