Washable and Reusable Mask Market to Ride the Wave of COVID-19 Pandemic, Notes Fact.MR
The global washable and reusable mask market will keep generating revenues at a healthy 8% CAGR during the forecast period (2020 - 2030).
This has resulted in the medical community coming up with steps such as hand washing every few hours and diligently, use of N95 respirators, and social distancing. It is pertinent to note here that that the use of masks is crucial for healthcare workers directly dealing with COVID-19 patients to ensure they do not catch the disease in the line of duty. Governments too are directing efforts at protecting these frontline workers as the war like situation continues.
This is creating a massive demand for masks but the supply is not at the mark. This is leading people to opt for washable and reusable masks. As per Fact.MR, the global washable and reusable mask market is set to grow tar an 8% compound annual growth rate, generating higher revenues over the period of 2020 to 2030. By the end of this period, experts claim that the valuation of the market would rise and touch the mark of UD 4 billion. This is almost an increase of 2.1X over the period.
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Key Takeaways of Reusable Mask Market Study
• Personal application of washable and reusable mask is set to hold a share-wide dominance with over 40% of the total market value. Panic buying and anxiousness are driving demand from this application segment
• Indirect distribution channels account for a significant market value share with over 50% of total revenues. On the other hand, online distribution channels offer the most attractive revenues prospects with an impressive 9% CAGR from 2020 to 2030
• North America and Europe cumulatively account for a big part of global sales with nearly 40% share of the total market value. The washable and reusable mask will witness tremendous demand across these regions owing to rising Covid-19 cases
• South Asia & Oceania have catapulted the global washable and reusable mask market with an astounding 9.4% CAGR during the forecast period. Investments in healthcare infrastructure development in India, Indonesia, Singapore, and Malaysia are central to growth of the washable and reusable mask market in these regions.