New York, USA, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global protective face masks market is anticipated to register a revenue of $2,467.5 million by 2027, growing at a healthy CAGR of 10.8% during the forecast period 2020-2027. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the COVID-19 pandemic. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario and future scope of the protective face masks market.
Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the market is expected to grow at a CAGR of 10.8% during the forecast timeframe, while it was predicted to grow at a CAGR of 10.2% in the pre-pandemic scenario from 2019-2026. Increasing number of corona cases across the globe is predicted to be the primary growth driver of the market in the analysis period. Moreover, increasing use of protective face masks in order to protect oneself from bacteria and pollution is expected to help the protective face masks market grow substantially.
Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time protective face masks market size has significantly increased compared to the pre-pandemic projections. The real-time market size reached a revenue of $1,205.6 million in 2020, while its estimations were $1,176.5 million in the pre-pandemic scenario. Majority of the healthcare companies have ramped up their production of protective face masks due to the Covid-19 pandemic, which is anticipated to offer numerous growth opportunities for the market. Along with this, increasing usage of protective face masks, especially in healthcare institutions is predicted to be the primary growth driver of the protective face masks market in the forecast period. However, lesser profit margin associated with face masks has left many manufacturing companies disinterested in starting the manufacturing of these masks, which is predicted to restrict the market growth.
Post Pandemic Insight
Increasing awareness among the general populace regarding the importance of wearing face masks is anticipated to augment the growth rate of the protective face masks market in the forecast period. Furthermore, increasing usage of e-commerce websites is predicted to boost the sales of protective face masks, thereby helping the market grow during the forecast years.
Prominent Market Players
Some prominent protective face masks market players include
- Reckitt Benckiser Group plcR
- Delta Plus Group
- JSP Ltd.
- Polison Corporation
- Ansell Limited
- Moldex-Metric, Inc.
- Intech Safety Private Limited
- Alpha Solway Ltd
- 3M
- Mine Safety Appliances (MSA) Company
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in April 2020, Aspen Surgical Products, Inc., a global leader in disposable surgical products, announced that it is planning to acquire Precept Medical Products, a disposable medical products manufacturing company. Precept Medical Products manufactures a whole line of medical disposable products like protective face masks, PPE kits, lab coats, patient gowns, etc. and hence, with this acquisition Aspen will be able to consolidate its position in the market further.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Schedule a call with an Expert Analyst to get the latest update on Protective Face Masks Market
More about Protective Face Masks Market:
Protective Face Masks: A Guard in the Time of COVID-19 Pandemic and Impact on Global Industry
