Towel Market to Witness Robust Expansion Throughout the Forecast Period 2021-2026

SEP 06,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Towel Market.

The Towel Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 6.5% during the forecast period.

A towel is a piece of absorbent cloth or paper that is used for wiping or drying a body or surface by blotting or rubbing action. There are various types of towels for serving different applications. A bath towel is typically used to dry the body after a shower and is rectangular in shape and large in size. Whereas, hand-towels are smaller in size and are used for wiping hands or cleaning surfaces. A kitchen towel is a multi-functional cloth that is used for a wide range of uses such as drying hands, drying off dishes, knives, cutting boards, and other kitchen items.

Market Dynamics
Significant expansion of the hospitality sector is the key driver of the towels market.

  • Towels are now available in various types of fabric such as Turkish cotton, microfiber, and Egyptian cotton as well as soft paper, thus offering numerous options to the consumers, further augmenting the product demand.
  • Changing lifestyle, rapidly changing fashion trends in home textile, growing brand consciousness, and increasing awareness about hygiene further boost product consumption.
Market Segmentation
Type Trends
Based on type, the global towel market has been categorized into bath towels, hand towels, disposable towels, kitchen towels, others.

  • The bath towels dominated the market in 2020 owing to significant consumption of bath towels in the residential sector as well as commercial sector.
  • The rising trend of the nuclear family and with increasing hygiene awareness, consumers opt for more than one towel per person and purchase new ones with changing market trends.
  • Moreover, the rising hospitality sector with increasing hotels, resorts, and motels ensure clean towels for their customers, further driving the segment growth.
Regional Trends
By region, North America dominated the market in 2020 and is projected to grow at a steady CAGR during the review period.

  • The presence of major towel companies including bath, hand, disposable, and kitchen towels offers lucrative opportunities to the companies to cater to an ever-growing consumer base.
  • The habit of hygiene and having a towel of your own, drives the product demand in the region.
  • Furthermore, the strong home textile growth in the region further boosts product consumption.
Key Players:

  • GM Exports (India),
  • Nine Space (The U.S.),
  • Sunvim (China),
  • Dunroven House (The U.S.),
  • QIANXIANG (China),
  • Kimberly-Clark (The U.S.),
  • Procter & Gamble (The U.S.),
  • Behrens Group (UK),
  • WHR Gmbh (Germany),
  • Laguna Beach Textile Company (The U.S.),
  • Dock and Bay (UK), and
  • Koch Industries (The U.S.).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Towel Market analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors