Paper Towels Market to Demonstrate a Strong Growth Over 2027 – MRFR
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.
Market USP
Increasing awareness
regarding personal hygiene, coupled with the outbreak of the COVID-19 pandemic
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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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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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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