PUBLISHER: 360iResearch | PRODUCT CODE: 1500268
PUBLISHER: 360iResearch | PRODUCT CODE: 1500268
[181 Pages Report] The Glove Market size was estimated at USD 19.57 billion in 2023 and expected to reach USD 21.05 billion in 2024, at a CAGR 7.80% to reach USD 33.12 billion by 2030.
The glove market includes various types of gloves catering to diverse industries and applications. These include disposable gloves primarily used in the healthcare, food service, and cleaning industries; protective gloves designed for specific work functions in manufacturing and construction; and fashion or sports gloves that cater to consumer needs. Increasing awareness about safety and hygiene among consumers and industries with stringent regulations from government bodies mandating the use of protective equipment at workplaces is expanding the usage of gloves. Rising demand from healthcare sectors, especially amidst pandemics such as COVID-19, is increasing demand for gloves. Rising raw material costs, including nitrile and latex, and inconsistencies in the quality of imported gloves stemming from diverse international manufacturing standards are hampering market growth. Increasing research & development activities to develop materials and designs that improve comfort, durability, and efficiency is expected to create opportunities for market growth.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 19.57 billion |
Estimated Year [2024] | USD 21.05 billion |
Forecast Year [2030] | USD 33.12 billion |
CAGR (%) | 7.80% |
Regional Insights
In the Americas region, there is a strong demand for gloves in various sectors, such as healthcare and food services. The aging population in the region has resulted in increased usage of gloves for medical purposes. Additionally, stringent safety regulations concerning worker protection have led to higher adoption of industrial gloves. In EU countries, increasing focus on sustainability is influencing consumers to opt for eco-friendly options such as biodegradable gloves made from renewable materials. Rising awareness regarding cleanroom contamination has grown significantly in the Asia-Pacific region. In recent years, China has witnessed a significant increase in the use of disposable gloves across cleanrooms, driven by the rapid expansion of its electronics, pharmaceuticals, and biotechnology industries. China has taken decisive steps to adopt stringent cleanroom standards in compliance with international norms, which has increased the demand for disposable gloves for cleanroom environments. Countries such as China, India, Japan, South Korea, and Singapore are focused on adopting advanced cleanroom technologies to reduce contamination risks in critical environments across various industries, including pharmaceuticals, biotechnology, and medical device manufacturing.
Market Insights
The market dynamics represent an ever-changing landscape of the Glove Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Glove Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Glove Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Unigloves Launches New Eco-Friendly Glove Line to Meets the High Standards of Durability and Protection
Unigloves announced the launch of its new, eco-friendly glove range. This innovative lineup meets the high standards of durability and protection, while prioritizing eco-conscious manufacturing processes. By integrating sustainable materials and practices throughout their production, Unigloves demonstrates an unwavering commitment to reducing environmental impact without compromising on quality. [Published On: 2023-05-31]
Semperit sells medical business to Southeast Asian glove producer HARPS
Semperit AG Holding entered into an agreement with HARPS GLOBAL PTE. LTD. for the sale of its medical business, Sempermed. As part of the agreement, Semperit AG Holding would continue to provide contract manufacturing services for the buyer, specifically in the production of surgical gloves and packaging at its facilities in Wimpassing, Austria, and Sopron, Hungary. The sales price for this acquisition is set at EUR 115 million, with customary price adjustment mechanisms to be applied upon completion. Additionally, it is expected that an impairment reversal of approximately EUR 30-35 million would be realized upon the successful closure of this transaction. [Published On: 2022-12-16]
Watson Gloves Partners with 3M Thinsulate to Launch New Industrial Work Gloves with Sustainable Insulation
Watson Gloves partnered with 3M Company to introduce a new line of industrial gloves. The gloves are made with sustainable insulation, which contains 78% fibers derived from recycled plastic water bottles. Moreover, these gloves have obtained certifications such as Global Recycled Standard and Bluesign/Oeko-Tex certification. [Published On: 2022-09-26]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Glove Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Glove Market, highlighting leading vendors and their innovative profiles. These include 3M Company, ABB Asea Brown Boveri Ltd, Adidas AG, All-Star Sports, Amazing Gloves Pvt Ltd, Amigo Surgicare Pvt.Ltd., Amkay Products Limited, AMMEX Corporation, Anhui Tianyuan Latex Technology Co.,Ltd., Ansell group, Asma Rubber Products Pvt. Ltd., B. Braun SE, Cardinal Health, Inc., Crown Healthcare Ltd., Everlast Worldwide, Inc., Globus Group, Grays of Cambridge (International) Ltd., HARPS Holdings Berhad, Honeywell International Inc., Hospeco Brands Group, Kanam Latex industries Pvt. Ltd., Kimberly-Clark Worldwide, Inc, Kossan Rubber Industries Bhd, MCR Safety, Medline Industries, LP, Mizuno Corporation, Motex Healthcare Corp., Molnlycke Health Care AB, Nike, Inc., and Watson Gloves.
Market Segmentation & Coverage