Face mask sales are expected to increase from USD 0.9 billion in 2019 to USD 21.5 billion by 2021 and then fall to USD 2.75 billion by 2026. These CAGRs are 381.8% between 2019 and 2021 and a combined CAGR of 33.7% between 2021-2026. The main reasons for the growth in the face mask market are the COVID-19 pandemic and consumer awareness about the importance of wearing face masks.
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Impact of COVID-19 on The Global Face Mask Market
Global face mask sales will benefit from the pandemic. Face masks are a great way to prevent or slow down the spread of potentially deadly COVID-19 infections. Face masks are used as an effective public and private health control measure to stop the spread of SARS. They are used to protect against infection and source control to prevent the spread of the virus within a healthcare setting. These are the various effects of COVID-19:
- The World Health Organization states that mask production must increase by 40% to meet global demand. To meet domestic demand, countries worldwide have begun to restrict exports of masks as the pandemic has reached more than 213 countries. Countries that rely on imports are now facing shortages. Many companies around the world are working to increase production to meet rising demand.
- 88% of the world’s population resides in countries that have mandated or recommended masks in public. More than 75 countries have mandated the use of masks.
Face mask Market Dynamics
Driver: Social media marketing is on the rise
Many social media platforms have launched campaigns to encourage people to wear masks and prevent the spread of the novel coronavirus. According to Facebook’s CEO, his company has partnered with the World Health Organization (WHO) to provide free advertising space for the fight against COVID-19. The company, for example, has placed alerts on the top of Instagram and Facebook to remind users to cover their faces and provide more prevention tips via the COVID-19 Information Center.
Restraint: Volatility at raw material prices
Volatility in raw materials prices is the primary inhibitor to the market growth for face masks. The primary raw materials for making nonwoven materials, metal strips, and earloops for face masks are oil and metal. The fluctuating commodity prices can significantly impact cash flows and earnings for companies within that ecosystem. Such pricing fluctuation will likely increase the manufacturing costs of face masks and thus limit the market for face masks.
Opportunities: Emerging economies have a growing healthcare industry
Players in the face mask market have significant opportunities in emerging economies like India, Brazil, and China. These emerging economies need better healthcare services due to the rapid increase in aging populations, high patient volumes, and growing per capita incomes. Manufacturers have significant growth potential.
Problem: Production volatility
Polypropylene (PP), a nonwoven material derived from oil, is widely used for face masks. Due to the significant initial investment in heavy machineries such as extruders and hoppers, PP electret melt-blown nonwoven is a specialized fabric that can only be produced by a small number of companies worldwide. This makes it difficult for new entrants to enter the market for face masks.
The market for other face masks in the segment by type is expected to grow at a substantial CAGR over the forecast period.
Fashion, pitta, and dust are the other segments of face masks on the market. As a preventive measure against pollution, pitta masks are widely used in Japan, China, India, and the US. Due to the increased use of fashion masks during the COVID-19 crisis, other face masks will see strong growth.
The market for reusable face masks is expected to grow strongly in the by-nature segment.
The global face mask market is expected to grow strongly during the forecast period for the reusable masks by nature segment. Reusable face masks by Nature are a low-cost segment proliferating due to a shortage of disposable masks worldwide.
It is expected that the market for face masks will see a promising increase in the Industrial & Institutional segment.
Face masks for industrial and institutional use are used to protect against inhalation of dusty particles. These are the main reasons for the increased demand for face masks in the industrial and institutional end-user segments.
The global face mask market is expected to grow significantly in North America during the forecast period.
The face mask market in North America will experience promising growth over the forecast period. This market’s growth is mainly driven by the COVID-19 pandemic and growing demand for healthcare services (due to an expected surge in the geriatric population and subsequent increase in chronic diseases) and the need to control infection to reduce the incidence of Health Associated Infections.
Key Market Players
There are several major players in the market for face masks: Honeywell International Inc. (US), 3M Company (US), Kimberly-Clark, Owens & Minor, Inc., and Cardinal Health, Inc., Inc. (US).
Based on Material Type, the face mask market has been segmented as follows:
- Polypropylene (PP)
- Flexible PVC
Based on Type, the face mask market has been segmented as follows:
- ASTM 1
- ASTM 2
- ASTM 3
- Dust mask
- Fashion mask
- PITTA mask
Based on Nature, the face mask market has been segmented as follows:
Based on End Use, the face mask market has been segmented as follows:
- Hospitals & Clinics
- Industrial & Institutional
- Personal/Individual Protection
Based on Region, the face mask market has been segmented as follows:
- Asia Pacific
- North America
- Middle East
- South America