New York, USA, May 02, 2023 (GLOBE NEWSWIRE) -- Paper Towels Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Paper Towels Market Information By Product Type, End-Use, Distribution Channel, And Region - Forecast till 2030"; the market will achieve USD 8.95 Billion by 2030 at a 5.3% CAGR.
Market Synopsis:
Consumers gravitate toward paper towels, known as kitchen rolls, as new cloth towel substitutes. Paper towels, as their name implies, are made of paper, specifically from cellulose fibers, which are enormous molecules of numerous smaller molecules bound together. Paper towels are more convenient to use and carry than regular cloth towels because they come in much smaller, lighter sizes. They can dry an area in less than 20 seconds, are single use, absorb more liquid than any other towel, and are sometimes thought to be more efficient than a hand dryer. The main drivers of market expansion are urbanization and paper towels' low cost. At least four paper towels are used daily in developed nations, where paper towel usage is already high. However, due to this commodity's lower cost, simplicity of use, portability, and high efficacy, demand for paper towels has also grown in developing nations.
It is used to clean hands and any surface, including glass tables, windows, and any food spills. Paper towels are frequently used to keep bathrooms and kitchens clean and hygienic. Paper towels and wipes are used to dry hands after washing them, and this method is regarded as hygienic as it prevents the spread of bacteria and viruses. These items are frequently used in place of electric hand dryers for hand hygiene purposes. To meet the rising consumer demand for these kinds of products, manufacturers are primarily concentrating on increasing the manufacturing capacity of their paper products, such as toilet paper, towels, napkins, and others.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 8.95 Billion |
| CAGR | 5.3% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, End-Use, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Awareness Regarding Personal Hygiene across the Globe\r\n |
| Increasing Per Capita Disposable Income Coupled with Rapid Urbanization\r\n |
Market Competitive Landscape:
The strong contenders in the paper towels market are:
- American Specialties Inc. (US)
- Kimberly-Clark Corp. (US)
- Seventh Generation Inc. (US)
- The Kroger Co. (US)
- Mercury Paper, Inc. (US) The Procter & Gamble Company (Japan)
- Georgia-Pacific LLC (Taiwan)
- Kruger Inc. (US)
- WEPA Hygieneprodukte GmbH (Germany)
- Cascades Inc. (Canada)
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Market U.S.P. Covered:
Market Drivers:
One of the main factors propelling the expansion of the paper towel market is consumer awareness of their health and the value of sanitization. People use these disposable towels to keep their hands and other surfaces clean and free of microbes that could have spread any disease. Additionally, it is a desirable option for buyers due to its lightweight, small size, and affordability. The demand for paper towel products made from readily biodegradable and recycled materials will likely increase as consumers and industries become more aware of the need to use environmentally friendly hygiene products.
Additionally, rising trends are anticipated to ease the demand for such items to encourage health & wellness initiatives through various seminars and events at offices and corporate buildings. Because people in these public spaces prefer one-time-use products that another person does not share, paper towels are used in workplaces, restaurants, coffee shops, and other commercial settings. This one-time usage factor boosts paper towel sales.
Market Restraints:
The manufacturing process is likely to be hampered by fluctuating prices for the various raw materials, such as virgin pulp and recycled material, used in producing paper products. Additionally, the unpredictability of incidents like flooding and fires at manufacturing facilities significantly slows the market's expansion.
COVID 19 Analysis:
Due to a rise in hygiene awareness and the belief that paper towels are safer to use because they are dry and won't spread bacteria from one person to another, the paper towel market is experiencing tremendous growth and demand from consumers, especially during the COVID-19 period. The COVID-19 outbreak led to a rise in the paper towel market. The rise in demand for paper towels can be attributed to consumers' increased awareness of the value of cleanliness and sanitization, both of which can be accomplished with paper towels.
They were primarily used for quickly wiping and drying hands and wiping surfaces that could be contaminated easily, or many people, like door handles and cups, frequently touched that. This product was high on the list of necessities for consumers because of its simplicity, excellent absorption rate, and single use. Additionally, the risk of virus contamination increased when multiple people continuously used the same cloth towel, making the paper towel a superior and safer substitute.
Browse In-depth Market Research Report (90 Pages) on Paper Towels Market: https://www.marketresearchfuture.com/reports/paper-towels-market-10220
Market Segmentation:
By end-use, the market includes residential and commercial & institutional.
By distribution channel, the market includes store-based and non-store-based.
By product type, the market includes rolled and folded.
Regional Insights:
Due to the high customer demand for paper towels, North America dominated the global market for paper towels in 2019. North America has become one of the major markets for paper towels due to the existence of a few of the key players who specialize in producing paper towels in the US. Paper towel sales in the area will undoubtedly increase to some extent due to the COVID-19 outbreak's unprecedented increase in demand. The Asia-Pacific market is anticipated to expand significantly over the coming years. Opportunities for the region's paper towel manufacturers will likely arise due to rising consumer spending power and a preference for Western cultures, particularly in emerging economies.
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