Kitchen Towel Market Report will Value USD 3.7 Billion by 2030 at a CAGR of 5 % : GreyViews
Kitchen Towel Market are Renova, Wausau Paper Corp., Towel Depot, WEPA Professional GmbH, Rodriquez Pty, WEPO, Accrol Group Holdings Plc, Procter and Gamble Corporation, Svenska, Aldar Tissues, Kimberly-Clark Corporation, Koch Industries Inc.
Pune India, Feb. 09, 2023 (GLOBE NEWSWIRE) — Kitchen Towel Market Size By Product Type (Paper-Based and Cloth-Based), By End-User (Residential and Commercial), By Distribution Channel (Specialty Stores, Supermarkets and Hypermarkets, Online Stores and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the kitchen towel market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the kitchen towel market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, end-users, distribution channels, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global kitchen towel market are Renova, Wausau Paper Corp., Towel Depot, WEPA Professional GmbH, Rodriquez Pty, WEPO, Accrol Group Holdings Plc, Procter and Gamble Corporation, Svenska, Aldar Tissues, Kimberly-Clark Corporation, Koch Industries Inc. among others. To achieve a substantial market share in the worldwide kitchen towel market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Towels used in the kitchen are usually made from terry cloth, which is a looped pile of fabric that can absorb a significant amount of moisture. There are several factors that are affecting the growth of the market, such as the surge in raw material prices. The restraints on the market are the use of cellulose fiber by many merchants to make paper towels from Kraft pulp or fiber recycled from recycled waste paper. Increasing urbanization, rising per capita incomes, and improving living standards have caused consumers to spend more on home care products, such as kitchen towels, which is driving the market growth. In addition to this, manufacturers have added a massive line of hand-knit and crochet towels as part of their existing product line. The increasing necessity for towels from various end-users such as hotels, fitness clubs, and hospitals is anticipated to drive market growth. As the textile industry spikes, consumers become more aware of their home’s appearances, boosting the market growth. Considering that kitchen towels are mainly used in homes and hotels, manufacturers would develop advanced technology to make them softer and more durable. The market is witnessing immense growth as consumers are attracted more and more towards kitchen towels due to their excellent water-absorbing ability and keeping the kitchenware clean and dry but there are some factors which are hampering the market growth such as rising raw material prices and rising environmental concerns.
Scope of Kitchen Towel Market Report:
|Market Share Unit||USD Billion|
|Segments Covered||Product Type, End-Users, Distribution Channel, and Regions.
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Renova, Wausau Paper Corp., Towel Depot, WEPA Professional GmbH, Rodriquez Pty, WEPO, Accrol Group Holdings Plc, Procter and Gamble Corporation, Svenska, Aldar Tissues, Kimberly-Clark Corporation, Koch Industries Inc. among others|
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Cloth-based is expected to be the fastest-growing segment in 2022.
The product segment includes paper-based and cloth-based. The cloth-based segment is expected to witness the highest growth rate during the forecast period. It is a sustainable raw material, grown and processed in such a way that the environment is not harmed when it is grown and processed in a way that does not harm it, that makes towels made of cloth. Due to the presence of lyocell in these products, which is six times more absorbent than regular cotton, these products have high absorbency. In addition to its excellent wrinkle resistance, this product is smooth and has wrinkles that fall out easily because of its tight structure.
The commercial is expected to be the fastest-growing segment in 2022.
The end-users segment includes residential and commercial. The commercial segment is expected to witness the highest growth rate during the forecasted period. A major reason for the growth can be attributed to the growing demand for kitchen towels, particularly from hotels, restaurants, and cafes worldwide. Also, an increase in tourism is expected to boost product demand over the forecast period, as tourists prefer using these products while visiting various tourist destinations worldwide.
Supermarkets & hypermarkets are expected to be the fastest-growing segment in 2022.
The distribution channel segment includes specialty stores, supermarkets and hypermarkets, online stores and others. A large share of the market is held by supermarkets & hypermarkets because they provide consumers with easy access to products at their doorsteps and offer a wide selection, due in part to people’s tastes and preferences, income levels, and the ability to choose from a wide variety of products to meet their needs.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the kitchen towel market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. According to the global kitchen towel market report in 2019, Asia Pacific dominated with a revenue share of over 35.0% 2019. Due to rapid urbanization and rising disposable incomes among consumers, demand for commercial applications has increased, resulting in an increase in restaurants and hotels in the region. Furthermore, increased awareness about hygiene and health maintenance will drive product demand further.
Germany’s kitchen towel market size was valued at USD 0.18 billion in 2022 and is expected to reach USD 0.27 billion by 2030, at a CAGR of 5.2% from 2023 to 2030.
As a result of the presence of major towel companies in the country, including bath, hand, disposable, and kitchen towels, the companies have lucrative opportunities to serve an ever-growing consumer base. Moreover, strong home textile growth in the region further boosts product demand, as is the habit of ensuring hygiene and owning a towel.
China’s kitchen towel market size was valued at USD 0.23 billion in 2022 and is expected to reach USD 0.35 billion by 2030, at a CAGR of 5.5% from 2023 to 2030.
Due to the emergence of small-scale textile manufacturers at low prices, China is one of the leading countries in the market for luxury products and premium textile products, which will also help to develop the market in the future. Luxury products and premium textiles are expected to gain popularity in the country.
India’s kitchen towel market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.28 billion by 2030, at a CAGR of 5.4% from 2023 to 2030.
The market in the country is growing due to an increase in disposable income and a higher standard of living. Consumers’ awareness of the product will also increase the market.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand among the end-user sector.
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