Paper Towels Market Scenario
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.
Market Synopsis
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.
Market USP
Increasing awareness regarding personal hygiene, and the outbreak of the COVID-19 pandemic
Market Drivers
- Increasing Awareness Regarding Personal Hygiene across the Globe
- The Outbreak of the COVID-19 Pandemic: The outbreak of COVID-19 has been one of the key drivers for market growth. Product demand has increased in not only the commercial & institutional segment but also the residential segment.
- Increasing Per Capita Disposable Income Coupled with Rapid Urbanization
- Growth of the Organized Retail Sector in Developing Countries
- The Advent of e-Commerce Platforms
Market Restraints
- The Rising Number of Counterfeit Products Emerging during the COVID-19 Pandemic
Market Segmentation
By Product Type
- Rolled: The rolled segment accounted for the largest market share in 2019, and it is projected to retain its dominance during the forecast period owing to the wide application of rolled paper towels across the residential and commercial & institutional sectors.
By End-Use
- Commercial & Institutional: The commercial & institutional segment dominated the global paper towels market in 2019 and is further anticipated to remain dominant during the forecast period. Owing to the wide application of paper towels across the HoReCa segment, educational institutions, and recreational spaces, the segment is expected to remain dominant during the review period.
By Distribution Channel
- Store-Based: The store-based segment dominated the paper towels market in 2019 and is further expected to remain dominant during the forecast period. The store-based segment has been further divided into supermarkets & hypermarkets, convenience stores, and others. The supermarkets & hypermarkets sub-segment dominates within the overall store-based distribution channel segment.
By Region
- North America: North America dominated the paper towels market in 2019, owing to the strong consumer preference for paper towels. Additionally, the presence of some of the key players specialized in the manufacture of paper towels in the US has made North America one of the key markets for paper towels. The unprecedented growth in the demand for paper towels owing to the COVID-19 outbreak is certainly going to boost the sales of paper towels in the region up to a certain extent.
- Asia-Pacific: The Asia-Pacific market is projected to witness significant growth during the forecast period. An increase in the consumers’ purchasing power and the inclination towards western cultures, especially in the emerging economies, is likely to create opportunities for paper towels manufacturers in the region.
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)
Report Attribute/Metric
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Details
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Market Size
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USD 8.95 Billion
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CAGR
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5.3% (2022-2030)
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Base Year
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2021
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Forecast Period
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2022-2030
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Historical Data
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2020
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Forecast Units
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Value (USD Billion)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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By Product Type, End-Use, Distribution Channel and Region
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Geographies Covered
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North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Vendors
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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)
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Key Market Opportunities
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The rising cases of infectious diseases Awareness regarding hygiene has increased
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Key Market Drivers
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Increasing Awareness Regarding Personal Hygiene across the Globe\r\nThe Outbreak of the COVID-19 Pandemic\r\nIncreasing Per Capita Disposable Income Coupled with Rapid Urbanization\r\nGrowth of the Organized Retail Sector in Developing Countries\r\nThe Advent of e-Commerce Platforms
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Frequently Asked Questions (FAQ) :
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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