Newark, April 03, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 33 million in 2022 global beach towels market will reach USD 48.84 million by 2032. Consumers' quality of life has increased due to the expanding population and rising disposable income. Consumer expenditure on personal care and home goods has expanded due to changing lifestyles and growing urbanization. The increasing disposable income is being used to splurge on much-needed breaks and vacations to beaches, mountains, staycations etc. additionally, beaches witness a significant footfall on weekends by the local population. The market is anticipated to grow, given the large footfall on beaches. The market will develop significantly due to new product improvements with superior materials, absorption capacity, durability, and increasing concerns about cleanliness and hygiene. Customers have a vast range of options with various sizes, colours, shapes, and materials, which enables them to buy products that best suit their needs.
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Key Insight of the Beach towels Market
North America is expected to dominate the market during the forecast period.
Given the extensive coastlines of Canada, the United States, and Mexico, the North American market has many beaches which witness significant footfall each year. The Caribbean's tiny littoral nations are also particularly well-liked among Americans, Canadians, and Europeans as vacation spots. These islands are well-known and famous, and more people are projected to visit them in the future, raising the demand for beach towels in the area. Also, the region's abundance of retail establishments and strong online delivery services provide convenience and affordability for beach towel purchases, fueling the market's expansion.
In 2022, the microfibre segment dominated the market with the largest market share of 45% and market revenue of 14.85 million.
The material type segment is divided into cotton, linen, microfibre, chamois and others. In 2022, the microfibre segment dominated the market with the largest market share of 45% and market revenue of 14.85 million.
In 2022, the online segment accounted for the largest market share, with 38% and a market revenue of 12.54 million.
The distribution channel is divided into hypermarkets/supermarkets, departmental stores, online and others. In 2022, the online segment accounted for the largest market share, with 38% and a market revenue of 12.54 million.
Advancement in market
March 2023 - Both Disney Cruise Line and Royal Caribbean declared that new beach resorts will open in the Bahamas in 2024 and 2025, respectively. The precise dates have not yet been made public. While Royal Caribbean's Royal Beach Club will be on the western tip of Paradise Island in Nassau, Disney's Lighthouse Point will be on the island of Eleuthera. Lighthouse Point is the bigger of the two locations, measuring over 700 acres. Royal Beach Club is only roughly 17 acres smaller, in contrast. This will be Disney's second private cruise line destination, trailing behind Castaway Cay; Royal Beach Club will be the third private cruise line destination for Royal Caribbean, following Labadee, Haiti, and Perfect Day at CocoCay. These new announcements are expected to increase the demand for beach towels.
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Market Dynamics
Driver: The growing popularity of beach holidays.
There was a pent-up demand for a much-needed vacation worldwide due to the two years of captivity given the Covid-19 pandemic. Coastal areas, Pacific Islands, and Caribbean Islands rank among the most popular vacation spots. These locations provide the most luxurious and inexpensive accommodations. They are well-liked by the hinterland residents and are attractive, tranquil, and approachable. These popular tourist destinations have the facilities to house visitors and provide them with entertainment, food, and easy transportation. Also, governments worldwide are putting money into the tourism sector, which will help the beaches and other coastal tourist destinations. The desire for beach holidays is fuelled by investment to revitalize the tourism industry, as well as increased attempts to make air travel easy and provide inexpensive vacation stays, offers, and discounts. The global market for beach towels will expand due to the rising demand for beach holidays.
Restraint: Beach towels are not widely known.
A sizable section of the public is unaware of the variations among different towel varieties. They don't know each towel's functions, uses, and advantages; therefore, they use one for various things. For instance, many households use regular clothes for cleaning and drying instead of kitchen towels in the kitchen. Similarly, people substitute regular towels or bath towels for beach towels. Consumers stay away from the beach towel industry due to a lack of knowledge, ignorance, or because it is considered an irrational economic decision to buy beach towels for one-time use. Thus, the market's expansion will be constrained by consumers' lack of knowledge regarding beach towels.
Opportunities: The creation of novel products.
The market for beach towels is monopolistic and highly fragmented. Market participants struggle to grow their market shares due to the fierce industry competition. Market participants are investing in cutting-edge materials, technologies, methodologies, and systems to design, construct, and develop high-quality beach towels that are superior to their competitors. They are spending more money on designing, marketing, and sales initiatives to grow the market share. They are locating market gaps and creating new goods to fill them. For instance, traditional beach towels are heavy and inconvenient for users. Producers can now offer lighter towels with better absorption and drying qualities with modern fabric materials. The market for beach towels is expanding and providing profitable potential opportunities due to the introduction of microfiber beach towels. Thus, over the projected period, the development of new products will present possibilities to the market's participants and expand the global beach towels industry.
Challenge: The lack of demand from geographical locations away from coasts.
The beach towels are made specifically for use on the sand. Where there is a beach, their demand is greater. In areas nearer to coastlines and beaches, it is higher. Yet, a substantial chunk of the area is landlocked, not coastal. Due to the absence of demand for beach towels in these areas, the market expansion is hindered. As a result, the market's expansion will be hampered by the low demand in areas lacking beaches.
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Some of the major players operating in the beach towels market are:
• Canningvale
• Dock & Bay
• Hatton Textiles International Ltd.
• Laguna Beach Textile
• Melody Blue LLC
• Oasis Towels
• Pendleton Woolen Mills Inc.
• Round Towel Co.
• Snappy Towels
• Tofino Towel Co.
Key Segments cover in the market:
By Material Type
• Cotton
• Linen
• Microfibre
• Chamois
• Others
By Distribution Channel
• Hypermarkets/Supermarkets
• Departmental Stores
• Online
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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