ID: MRFR/CR/8742-HCR | 90 Pages | Author: Snehal Singh | May 2023
Paper Towels Market Size is expected to reach USD 8.95 billion, and it is projected to register a CAGR of 5.3% from 2022 to 2030.
The demand for paper towels is increasing owing to the rising awareness among consumers regarding hygiene etiquette. With the rising cases of infectious diseases, awareness regarding hygiene has increased, both in residential and commercial & institutional spaces across the globe. The convenience of use as compared to plastics and fabrics makes paper towels a more preferred option. Additionally, paper towels are biodegradable. However, their popularity can be witnessed only in the North American and European countries. Rapid urbanization, rising disposable incomes, improved standard of living, and consumer inclination towards the adoption of western cultures are some of the key factors that are expected to boost the growth of the paper towels market during the review period.
The outbreak of COVID-19 has resulted in an unprecedented demand for paper towels across the globe. Global lockdowns compelled people to stay at home and work remotely, which resulted in panic buying and stockpiling of paper towels, especially in the North American and European countries. Subsequently, the production of paper towels was hampered owing to the unavailability of raw materials amidst the lockdown restrictions and transportation woes. Manufacturers of paper towels in the US and many European countries are running manufacturing facilities day and night in multiple shifts to meet the surging demand for paper towels.
Global Paper Towels Market has witnessed exponential growth in the last couple of months. The outbreak of the COVID-19 pandemic has boosted the demand for paper towels. With lockdown restrictions and people staying at home, stockpiling and panic buying of paper towels has increased in the US and many European countries. With such unprecedented growth in demand for paper towels in the US, Kimberly-Clark Corporation, one of the prominent manufacturers of household equipment, started manufacturing paper towels 24 hours a day. Many startups are emerging up across the globe to bridge the demand and supply gap for paper towels. Companies such as Who Gives a Crap, Inc., and Bippy are some of the key startups that are experiencing an upsurge in sales of paper towels across the globe. Therefore, until the COVID-19 pandemic subsides, the high demand for paper towels is expected to remain consistent.
Increasing awareness regarding personal hygiene, and the outbreak of the COVID-19 pandemic
|Market Size||USD 8.95 Billion|
|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 Vendors||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)|
|Key Market Opportunities||
|Key Market Drivers||
Global paper towels market is estimated to acquire a substantial market value by the end of 2030.
Global paper towels market is projected to grow at a CAGR of 5.3% by 2030.
The increasing awareness about personal hygiene, growing income, rapid urbanization are some of the essential market drivers of the global paper towels market.
The global paper towels market can be segmented based on product type, end-user, distribution channel, and region.
Kruger Inc. (US), Seventh Generation Inc. (US), American Specialties, Inc. (US), The Procter & Gamble Company (Japan), are some of the key players of the global paper towels market.
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