Product ID: SQSG25M2002
Report ID: SQSG25M2002 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 91 | Figures: 68
Bath Towel Market was valued at USD 4860 billion in the year 2021, and it is expected to reach USD 5,171.04 billion by 2028, increasing at a CAGR of 6.4% from 2022 to 2028. Bath Towels are still a crucial fashion accessory and a consistent source of cash for the industry. Bath Towels have recently risen in popularity as one of the most coveted personal items all around the world. The availability, prominence, and desirability of different bath towels have increased their wide acceptance and potent performance.
The global bath towel market is primarily driven by the growth of the hospitality industry. The booming hotel sector's increasing demand for premium bath towels has fueled the market expansion globally. In many hotels and spas, bath towels manufactured from various varieties of cotton, such as Turkish cotton, Egyptian or Pima cotton, and microfiber, are utilised. Another element driving the expansion of the bath towel market is the rising health and fitness club sector. The textile sector is predicted to grow faster than the bath towel market as a result of rising disposable income in emerging economies like China and India. Bath towels made of organic material are in greater demand as a result of consumers' growing eco-awareness. The bath towel market is being driven in part by the fast shifting fashion trends, rising hygiene awareness, and alterations in lifestyle.
US Bath Towel Market is poised to grow at a sustainable CAGR for the next forecast year.
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The global bath towel market is segmented based on type, end user, distribution channel and region. Based on type Bath Towel Market is segmented into plush bath towel, bamboo filter bath towel, velvet bath towel, micro fiber towel, turkish cotton bath towel, others. Based on end user, Bath Towel Market is segmented into residential, commercial. Based on distribution channel, Bath Towel Market is bifurcated into online, offline. Based on region Bath Towel Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
In 2021, cotton bath towel held the greatest market share. Cotton towels are becoming more and more popular because they are eco-friendly, gentle on the skin, chemical-free, and more absorbent. These attributes are driving demand for cotton towels in both residential and non-residential applications. When compared to other towel materials, cotton towels have the advantage of holding up to 25 times more water.
Customers choose to use more than one towel per person and buy new ones when market trends change due to the growing tendency of the nuclear family and greater hygiene awareness. Due to their affordability, outstanding durability, and superior absorbency, cotton towels are becoming more and more popular in the high-end luxury hotel and premium spa sectors. Furthermore, the expansion of the hospitality industry with its growing number of hotels, resorts, and motels ensures that its guests have clean towels, which contributes to the segment's growth.
Bath Towel Market Analysis by End User
The global bath towel market has been divided into residential & commercial based on application. The greatest market share in 2021 belonged to households, and throughout the forecast period, that share is expected to increase at a CAGR of 7.2 %. The rising number of residential units being built is largely responsible for the expansion of the bath towel market in the household sector. The demand for a separate towel to enhance hygiene is being driven by the growing population pool combined with the shifting tendency toward nuclear families. The bath towel market is also being driven by an increase in consumer spending power on home and bath linen for a more comfortable experience.
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North America held the highest share of the global bath towel market in 2021 because of its advanced healthcare system, expanding fitness sector, and expanding food and beverage business. One of the primary factors driving the growth of the bath towel market in North America is the widespread use of towels to maintain personal hygiene in restaurants, hotels, hospitals, clinics, and gyms & fitness clubs.
The expanding population in developing nations like China and India would cause the towel market in the Asia Pacific region to grow quickly over the forecast period. The need for towels in commercial applications, which is anticipated to develop at a high rate in the coming years, is boosted by expanding industries including healthcare and hospitality. The Asia Pacific region's enormous population, rising per capita income, and government-sponsored hygiene programmes are the main drivers of the towel industry there. Another element driving market expansion in the region is an increase in textile exports from Asia to various parts of the world as a result of favourable government assistance and the region's advantage of low labour costs. Additionally, the increased urbanisation of Asian nations is raising living standards and driving up demand for bathroom and house textiles.
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Bath Towel Market Driver
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Top Players in the Global Bath Towel Market
Bath Towel Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by type, the cotton bath towel segment is estimated to held the largest share of the market in the year 2021. By end user, the residential segment held the largest share of market. Region-wise, the North America dominated the market, followed by Asia Pacific because of growing medical services area and developing wellness industry and food and drink industry. Broad use of towels in food joints, medical clinics, centers, exercise centers and wellness clubs, and lodgings to keep up with individual cleanliness are prime elements which boosts the bath towel market.
|Market size value in the||USD 4860 billion|
|Market size value in 2028||USD 5,171.04 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Bath Towel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Bath Towel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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