Paper Towels Market 2021-2027: Industry Analysis, Size, Share, Trends, Growth and Forecast
Market Forecast
In 2019, the Global Paper Towels Market was valued at
USD 8.95 Billion. It is expected to record a CAGR of 5.3% between
2020 and 2026.
The global demand for paper towels has increased in
the last couple of years. Rising awareness regarding personal hygiene has been
one of the key factors for the growth of the Paper Towels Market. Paper towels
are biodegradable and recyclable. They are more convenient as compared to
plastics and fabrics and are widely used both in the residential as well as the
commercial & institutional sectors. Additionally, their easy availability,
low cost, and better hygiene as compared to fabrics, are some of the other key
factors that are increasing the consumers’ preference for paper towels over
conventional material. Furthermore, rapid urbanization, rising income levels,
and improved standards of living, especially in the emerging economies, have
boosted the demand for paper towels from the residential segment. Consumer
inclination towards the adoption of western cultures, especially in emerging
economies, is expected to fuel the growth of the Paper
Towels Market during the review period.
Furthermore, amidst the COVID-19 pandemic, sales of
paper towels have surged across the globe. People across the globe were forced
to remain within their homes. This scenario propelled the demand for paper
towels and led to stockpiling. Walmart, Home Depot, and Kohl's are some of the
major retailers that have witnessed a spike in demand for paper towels in the
US. The Procter and Gamble Company witnessed one of its biggest sales gains in
years due to the US consumers’ stockpiling of paper towels. Hence, the outbreak
of COVID-19 has also boosted the demand for paper towels up to some extent.
Growth Opportunities in the Market
Preference for Rolled Paper Towels:
Rolled paper towels find wide applications across the residential, commercial,
and institutional sectors. Rolled paper towels are used in kitchens and
washrooms. Their practicality in commercial and institutional sectors makes
them more convenient as compared to folded paper towels. Folded or multifold
paper towels are ideal for individual use. The rolled paper towels segment
dominates the market, and the trend is expected to continue during the forecast
period.
High Demand from the Commercial & Institutional
Applications Segment: Paper towels are in high demand from the
commercial & institutional segments. The wide application of paper towels
in the HoReCa segment, educational institutions, commercial and recreational
spaces, and other commercial applications have resulted in high demand for paper
towels in the commercial and institutional segment. Paper towels are also
likely to find substantial applications in the residential during the review
period.
Easy Availability of Paper towels in Store-Based
Distribution Channels: The easy accessibility of paper towels
through store-based distribution channels has led to the dominance of the
segment. Additionally, the increasing number of organized store-based channels
for the sale and purchase of paper towels, such as supermarkets &
hypermarkets, convenience stores, and other local stores, has resulted in the
dominance of store-based distribution channels. However, the sale of paper
towels through e-commerce channels is expected to grow during the review
period.
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Report Details @ https://www.marketresearchfuture.com/reports/paper-towels-market-10220
Market USP
Increasing awareness regarding personal hygiene,
coupled with the outbreak of the COVID-19 pandemic
Key Players
- American Specialties, Inc. (US)
- Kimberly-Clark Corp. (US)
- The Procter & Gamble Company (Japan)
- Georgia-Pacific LLC (Taiwan)
- Kruger Inc. (US)
- Seventh Generation Inc. (US)
- The Kroger Co. (US)
- Mercury Paper, Inc. (US)
- WEPA Hygieneprodukte GmbH (Germany)
- Cascades Inc. (Canada)
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