Global Towels Market Trends 2022 | Segmentation, Outlook, Industry Report to 2028.

The global towels market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The increasing population coupled with rising disposable income is increasing the purchasing power of consumers on personal care and household products which is driving the growth of the market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada,  the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.

The rising hospitality sector with the increasing number of hotels and travelers ensures clean towels for customers, further driving the growth of the market. According to the data published by India Brand Equity Foundation (IBEF) 2022, the foreign tourist arrivals in India had stood at 10.93 million in 2019. Between January 2021 and April 2021, the foreign tourist arrivals accounted for 376,083. Further, by 2028, international tourist arrivals are projected to reach 30.5 billion and generate revenue of over $ 59 billion. In addition, international hotel chains are surging their presence in the country and are anticipated to account for 47.0% share in the tourism and hospitality sector in India by 2020 and 50.0% by 2022. Moreover, the Indian hotel market including domestic inbound and outbound is estimated at $32 billion in 2020 and is projected to reach $52 billion by 2027, driven by surging demand from travelers. Thus, the increasing number of hotels coupled with surging travelers is anticipated to fuel the demand for the global towels market during the forecast period.

Competitive Landscape-

Sunvim Group Co.Ltd, The DMC Corp., and Danica Studio among others

By Type

• Bath Towels
• Hand Towels
• Disposable Towels
• Kitchen Towels
• Others

By User

• Male
• Female
• Kids
• Unisex

By Application

• Residential
• Commercial

Scope of the Report
The research study analyzes the Global Towels industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Global Towels Market Report
1. What was the Global Towels Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).

2. What will be the CAGR of Global Towels Market during the forecast period (2022-2028)?
   3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
   4. Which manufacturer/vendor/players in the Global Towels Market was the market leader in 2021?
   5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

The report covers the following objectives:

• Proliferation and maturation of trade in the Global Towels market.
• The market share of the Global Towels market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
• Current and future market trends that are influencing the growth opportunities and growth rate of the Global Towels market.
• Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Towels market.