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 market 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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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)
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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