by The global Washable Finger Paint Market is estimated to be valued at US$ 1,582.2 Mn or Million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Washable finger paint is a non-toxic water-based paint that is safe for children to use freely with their hands. It allows children to freely explore their creativity and motor skills. Finger paint comes in a variety of bright, vivid colors that children find appealing. It is easily washable from skin, clothing and other surfaces like walls with just water, which makes it safe and mess-free for use. The smooth, creamy texture of finger paint allows children to experiment freely with making different shapes, patterns and drawings without worry of long lasting stains.
Market key trends:
One of the key trends in the washable finger paint market is the increasing use of organic and natural ingredients in paint formulations. Many parents prefer organic and natural options due to concerns around toxicity of synthetic dyes and chemicals. Manufacturers are introducing plant-based, non-GMO and vegan finger paint options made from ingredients like cornstarch, coconut oil and food colorings. Another trend is the development of multi-surface, durable finger paints that can be used on non-porous surfaces like windows, mirrors etc. in addition to paper and walls. This allows more creativity and versatility in painting activities. Innovation in packaging, shapes and formats such as squeezable tubes, finger sized pots and mini snack packs is also a trend to make finger paints more portable, mess-free and attractive for children.
Porter’s Analysis
Threat of new entrants: Low – Initial capital costs are high to enter the washable finger paint market as it requires R&D, distribution network and branding which discourage new players.
Bargaining power of buyers: Moderate – The global washable finger paint market comprises large buyers such as retailers, distributors and parents, but individual consumers have low bargaining power due to availability of varied products.
Bargaining power of suppliers: Low – Raw material suppliers possess low bargaining power due to existence of several raw material suppliers for wax, pigments, binders and thickeners required for manufacturing washable finger paints.
Threat of new substitutes: Low – No direct substitutes exist for washable finger paint as it is specifically designed finger painting product for kids.
Competitive rivalry: High – The global washable finger paint market is competitive due to presence of large and small players globally operating in the market.
Key Takeaways
The global washable finger paint market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing demand for eco-friendly and non-toxic products for creative development of kids. North America dominates the washable finger paint market currently due to increasing working women population and awareness regarding early childhood education.
The global washable finger paint market size for 2023 is US$ 1,582.2 Mn. Regional analysis indicates North America is the fastest growing region. The U.S. accounts for over 35% of the North America washable finger paint market share due to favorable government regulations for early childhood education products in the country.
Key players operating in the washable finger paint market are Crayola LLC, Melissa & Doug, Faber-Castell, Sargent Art, Colorations, Prang, Handy Art, Amos, Okonorm, TColors, Little Brian, Eco-Kids, Doodle Hog, TBC The Best Crafts, ALEX Toys. Crayola LLC is the global market leader for offering wide product portfolio across different price points targeting various consumer segments.
