A recent slideshow by Nonwovens Industry indicates that the nonwovens market has reached $29 billion globally and is anticipated to continue growing 5% every year due to global megatrends.
Why is there such room for growth in the nonwovens market?
- The middle class is increasing. As people around the world amass more wealth, there is a higher demand for hygiene products. As the standard of living increases, so does the demand for items like disposable diapers or wipes that make living easier and save time. The slideshow indicates that 2.1 billion people will be part of the global middle class by 2020.
- People are aging. There wasn’t just a baby boom in the United States in the 1950s and 60s. The UN reports that 20% of the world’s population will be composed of people over 60 by 2050. An aging population means an increase in the demand for adult incontinence items and medical nonwovens as more and more people seek medical care in their older years.
- A focus on the environment. More and more people are aware of how their actions and consumption affect the environment. Consumers will continue to increasingly seek eco-friendly products and will purchase from companies who have sustainability programs in place.
- The millennial generation. The Nonwovens Industry slideshow points to millennials as having the expectation of transparency, including what materials products use, how they’re produce and where they’re produced. we might also add that We might add that millenials have been raised with disposable products in almost every area of their lives. It only makes sense that they, expected to be the largest living population of the US, will drive demand in the nonwovens marketplace.
How can we in the nonwovens market capitalize on the increasing global demand for nonwoven products? The short answer is that we need to continue to pay attention to consumer needs and adapt our products to meet market demands.