The face mask market is projected to grow from USD 737 million in 2019 to USD 22,143 million in 2021 and then reduce to USD 3,021 million by 2025.
The projected CAGRs for these time periods are 448.1% between 2019 to 2021 and an overall CAGR of -48.9% from 2020 to 2025. The primary reasons driving the demand for face mask globally, includes factors like the outbreak of COVID-19 pandemic, the rise in consumer awareness pertaining to the importance of face masks, and the surge in social media marketing to encourage a positive attitude towards wearing masks.
The surgical type segment of the face mask market is projected to grow at the highest CAGR during the forecast period of 2020 to 2025. The primary reason of the demand for surgical masks can be attributed to its use in the healthcare industry. Furthermore, the ongoing COVID-19 pandemic is expected to drive the market of surgical masks from 2019 to 2021.
Disposable face masks are estimated to lead the face mask market
By nature, disposable face masks are estimated to be the largest segment in face mask market in 2020. The disposable face masks segment includes surgical, respirator, dust, and pitta masks. The increased use of respirators in hospitals to drive the demand for disposable face masks during the forecast period. Also, the ongoing pandemic is contributing to the increased use of disposable face masks, on a global level.
Personal/Individual Protection is estimated to dominate the face mask market
By end use, personal/individual protection is expected to dominate the face masks market, during the forecast period. The personal/individual protection segment comprises face masks used by the general public for respiratory protection against airborne infections or air pollution. The growth in this segment is mainly attributed to the growing awareness about protection against probable pandemics and respiratory diseases.
Asia Pacific face mask market is projected to be the largest market during the forecast period
Asia Pacific is projected to be the fastest growing and the largest market for face mask during the forecast period. Factors like the rising demand for face mask in the growing economies in China and India, the growth and enhancement in healthcare infrastructure in South-East Asian countries, the rising geriatric population in countries like Japan, increasing investments in the healthcare industry, expansion of private-sector hospitals to rural areas, and rapid economic growth are driving the demand for face masks in the Asia Pacific region