Gloves Market to grow at a CAGR of 5.78% during 2024-2028
The Gloves Market is expected to grow at a CAGR of 5.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 11.32 billion. In the gloves market, vinyl gloves, particularly those utilized in food processing and food service industries, incorporate antimicrobial layers to minimize the transmission of microbes from the gloves to food products. Manufacturers prioritize this feature to extend the gloves' shelf life. Omni International, a prominent vendor of food processing gloves, integrates antimicrobial solutions technology in its product line. This technology ensures the production of gloves with a PVC film, which inhibits fungal and bacterial growth on the gloves. The antimicrobial properties of these gloves, branded as AMT, offer significant cost savings by preventing microbial degradation and deterioration, thereby prolonging their usable life.
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Technavio analysts predict that the Offline subsegment will lead the Distribution Channel segment during 2024 and 2028 In the context of the gloves market, an offline distribution channel signifies the conventional method of dispersing goods through traditional avenues, such as physical retail outlets, wholesalers, distributors, and intermediaries, devoid of Internet reliance. This distribution method predominantly comprises brick-and-mortar stores, including local retailers, department stores, and specialty shops, offering customers the tangible experience of product exploration prior to purchase. Moreover, medical institutions and laboratories, which prioritize gloves for infection control and safety, procure them in substantial quantities via direct sales representatives and well-established offline networks.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing industrial glove production
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The personal protective equipment (PPE) market, with gloves as a significant revenue contributor, has witnessed robust growth due to increasing health crises and customer expectations for enhanced safety and hygiene. Usability, product quality, and regulatory scrutiny are key factors driving the demand for gloves in various industries, including oil and gas, chemicals, construction, and heavy-duty sectors. Reusable gloves offer sustainability benefits, but they must meet stringent quality standards and hygiene issues must be addressed. Disposable gloves, on the other hand, provide ease of use and better grip, making them popular choices in industries with high regulatory scrutiny and hygiene concerns. Major firms, such as Ansell, 3M, and Kimberly-Clark, dominate the market with their extensive product offerings and commitment to product quality. However, the supply chain faces challenges due to increasing demand, regulatory requirements, and waste management concerns. Bare hands are no longer an option in many industries, as the risks of injury and contamination are too high. As such, gloves have become essential PPE, with usability, grip, and product quality being critical factors in customer satisfaction. Regulations continue to evolve, ensuring that gloves meet the highest standards of safety and sustainability.
According to Technavio, the global gloves market is a segment of the expansive global textiles, apparel, accessories, and luxury goods market. This market encompasses entities involved in the production and distribution of textiles, apparel, accessories, and luxury goods, including those offering rental services. Notably, the market excludes footwear manufacturers. The global textiles, apparel, accessories, and luxury goods market size is determined by the consolidated revenues generated by the manufacturers and marketers of textiles, apparel, footwear, accessories, and luxury goods. Key growth drivers for this market include the increasing working women population, which is boosting overall household disposable income and consumer spending on apparel, accessories, and luxury goods.
The Gloves Market is experiencing significant growth, fueled by the growing industrial glove production. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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