Global Bath Towel Market Surpasses USD 5.48 Billion in 2022, Poised for Strong Growth at 6.7% CAGR by 2029

19-01-2024: Market Values:

The Global Bath Towel Market achieved a noteworthy size of USD 5.48 billion in 2022 and is projected to exhibit substantial growth, reaching USD 8.63 billion by 2029. The market is poised to grow at a commendable Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.

Report Scope:

The report delivers a comprehensive analysis of the current market scenario, focusing on drivers, restraints, trends, estimations, and opportunities in the Bath Towel market. Employing PORTER's five forces analysis, the report assesses the strategic decisions of buyers and suppliers, unveiling insights into market dynamics. In-depth analysis, market size, and segmentation contribute to evaluating the market's potential during the forecast period. The report also explores factors that may impact the industry positively or negatively, providing a clear futuristic view for decision-makers.

Research Methodology:

The report utilizes a robust research methodology, incorporating quantitative analysis to identify prevailing opportunities in the Bath Towel market. A thorough examination of key players, market leaders, followers, and new entrants contributes to a comprehensive understanding of the global market.

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Market Dynamics:

Drivers:

The Bath Towel market is propelled by an increasing demand from the hospitality sector, health and fitness clubs, and a growing preference for organic bath towels. Notable players such as Welspun India Limited are making significant contributions to market growth, manufacturing a substantial portion of towels in the U.S.

Restraints:

Fluctuating raw material costs, particularly in cotton-the primary material for bath towels-pose challenges for maintaining consistent pricing. Manufacturers may face the dilemma of raising prices to cover costs or lowering prices to remain competitive.

Bath Towel Market Segmentation :

The Bath Towel Market's Bamboo Fibre sector is anticipated to expand at a rapid rate of growth throughout the projected period, based on Material Use. In addition to being a more environmentally friendly substitute for cotton, bamboo is prized for being soft and absorbent. A bamboo bath towel typically costs around $30. The growing popularity of bamboo fibre in the textile sector and the growing demand for natural and sustainable products are driving the expansion of the bamboo fibre segment. The biggest market for bamboo fibre bath towels is in Asia Pacific, which is followed by North America and Europe.

Material Use:

Bamboo Fiber
Cotton
Micro Fiber
Others
Type:

Synthetic
Natural
Sales Channel:

Offline
Online Stores

With a sizable portion of the market, the Natural category is the largest resolution for bath towels based on type. The environmental impact of towel manufacture can be lessened by using sustainable materials like bamboo or organic cotton, which are frequently used to make natural bath towels. The rising demand for natural bath towels from hotels and other commercial facilities is also anticipated to fuel the segment's expansion. However, the high cost of natural fibres is impeding the market's growth for natural bath towels. Given their higher cost compared to synthetic fibres, some customers may find natural fibres to be a less cheap option.

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Bath Towel Market Key Players

1. Welspun (Mumbai, India)
2. Trident Group (India)
3. 1888 Mills (USA)
4. Loftex (China)
5. Grace (Hong Kong)
6. WestPoint Home (USA)
7. SUNVIM (China)
8. Sanli (China)
9. Kingshore (China)
10. Springs Global (Brazil)
11. Avanti Linens (USA)
12. Uchino (Japan)
13. Canasin (China)
14. EverShine (China)
15. Venus Group (USA)
16. QiQi Textile (China)
17. Noman Group (Bangladesh)
18. Mtcline (China)
19. American Textile Systems (USA)

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Table of content for the Bath Towel Market includes:

Part 01: Executive Summary

Part 02: Scope of the Bath Towel Market Report

Part 03: Global Bath Towel Market Landscape

Part 04: Global Bath Towel Market Sizing

Part 05: Global Bath Towel Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia Pacific:

Leading the market with a 42% share in 2022, the Asia Pacific region is expected to grow at the highest CAGR of 9.1%. Increased consumer awareness, fueled by global players' marketing strategies, and thriving markets in India, China, and Australia contribute to the regional market's robust growth.

North America:

Securing the second-largest market share of 28% in 2022, North America anticipates market expansion, supported by continued investments in the foodservice and pharmaceutical industries. Research and development activities focus on creating innovative products appealing to diverse demographics, further enhancing market growth.

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