PUBLISHER: Grand View Research | PRODUCT CODE: 1404661
PUBLISHER: Grand View Research | PRODUCT CODE: 1404661
The U.S. personal protective equipment retail market size is anticipated to reach USD 13.6 billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing importance of safety and security in the workplace has created a sustainable and expanding market for Personal Protective Equipment (PPE), as organizations increasingly prioritize the well-being of their employees. Retailers mainly meet this demand by offering a wide range of PPE products that cater to the evolving safety needs of different industries. This, in turn, is anticipated to boost the U.S. market over the forecast period.
The growing concerns about ensuring employee health and safety, combined with stringent occupational regulations, are likely to drive the market growth over the forecast period. Moreover, the increasing adoption of e-commerce platforms among retailers is anticipated to further drive the growth of the market.
Owing to stringent regulations such as OSHA, ISO, and others, retailers are required to ensure that the PPE products they offer comply with health and safety regulations. As regulations evolve and become more stringent, retailers are driven to stock and sell compliant PPE, leading to a wider range of PPE products in the retail market. Furthermore, stringent PPE regulations can create high entry barriers for new, unregulated PPE retailers, fostering competition among retailers that adhere to the established regulations. This can drive market consolidation and a focus on quality products.
According to the U.S. Bureau of Labor Statistics, there were 5,190 fatal workplace injuries documented in the country in 2021. The leading causes of these injuries in the construction industry included object strikes, electrocution, and falls. The lack of adequate protective equipment for workers was cited by the bureau as one of the leading causes of the fatal injuries resulting from these accidents. The adoption of stringent regulations, safety guidelines, and use of personal protective equipment has helped avoid such accidents. This adoption of personal protective equipment drives the retail market as more and more employers and organizations are expected to procure personal protective equipment from various retail channels such as online or offline.
The competitive landscape of the U.S. PPE retail industry in 2022 was marked by the presence of key industry leaders with significant influence on the market. These leaders, including Uline, Amazon, Walmart, and Walgreens, held substantial market shares, reflecting their strong market positions. To meet the rising demand from diverse industries, corporations are pursuing business growth through strategies such as mergers and acquisitions, the establishment of new manufacturing facilities, and geographic expansion initiatives. For instance, in February 2023, Target announced a plan for a USD 100 million investment to expand its next-day delivery infrastructure in the U.S. The initiative is expected to add more than six sorting centers to the supply chain of the company. This new investment is anticipated to help Target achieve its future sorting sites' expansion thereby more than 15 facilities to be made operational by the end of 2026.