Market Leader - Face Mask Market
The face mask market is projected to grow from USD 0.8 billion in 2018 to USD 52.7 billion in 2021 and then reduce to USD 3.0 billion by 2027. The CAGRs for these periods are 309.8% between 2018 to 2021 and an overall CAGR of -34.5% from 2022 to 2027. The major reason for the growth of the face mask market between 2018 to 2021 is the outbreak of the COVID-19 pandemic. Other factors driving the growth of the face mask market between include the rise in consumer awareness pertaining to the importance of face masks as a preventive measure during the COVID-19 pandemic, and the surge in social media marketing to encourage a positive attitude towards wearing masks.
Companies such as 3M Company (US), Honeywell International Inc. (US), Kimberly-Clark Corporation (US), Owens & Minor, Inc. (US), and Cardinal Health, Inc. (US), fall under the winners’ category. These are leading players in the face mask market, globally. These players have adopted the strategies of expansions, agreements, contracts, partnerships, acquisitions, and collaborations, to fulfill the rising demand for face masks on the regional as well as global levels.
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3M Company is the leading player in the global face mask market, in terms of production capacity and the geographical presence. In May 2020, 3M Company announced the expansion of its facility located in Aberdeen, South Dakota (US). The expansion includes the addition of 120,000 sq. ft. in order to enhance the N95 production capacity of the facility. The purpose of the expansion is to fulfill the two contracts that the company acquired from the US Department of Defense (DoD).
In May 2020, Honeywell International Inc. announced the establishment of a new production line for manufacturing FFP2 and FFP3 disposable face masks at its Newhouse site in Scotland, UK. This line is expected to have a production capacity of around 4.5 million FFP2 and FFP3 disposable face masks per month. The purpose of this expansion is to help the UK Governments response to the COVID-19 outbreak. Furthermore, under this expansion, the company will offer 70 million SuperOne face masks over the next 18 months. The masks will be distributed by the Department of Health and Social Care to the UKs National Health Service (NHS) and social care settings in order to protect frontline workers.
In November 2020, Owens & Minor, Inc. increased the production and invested in its capacity to provide frontline workers with procedure masks and N95 respirators. There has been over a 1000% increase in N95 production at three Americas locations, including additional manufacturing assets in Del Rio, Texas and Lexington, N.C.
Related Reports:
Face Mask Market by Nature (Disposable, Reusable), Material Type, Type (Surgical, Respirator), End-Use, Distribution Channel (Pharmacy & Drug Stores, Supermarket & Hypermarket, Specialty Stores, E-commerce) and Region - Global Forecast to 2027
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