Towel Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024

Description

The Global Towel Market, valued at USD 16.3 billion in 2023, is poised for steady growth with a projected CAGR of 5.2% from 2024 to 2032. This growth is driven primarily by the flourishing hospitality and tourism sectors, where hotels, spas, resorts, and fitness centers increasingly prioritize premium-quality towels to enhance customer satisfaction. This emphasis on luxury and comfort continues to propel demand, reinforcing the market expansion.

The market is segmented by type into bath towels, hand towels, kitchen towels, and others. Bath towels emerged as the dominant segment in 2023, generating USD 9.2 billion in revenue, and are expected to grow at a CAGR of 5.4% through 2032. Their widespread adoption across both residential and commercial settings underscores their popularity. Rising awareness of personal hygiene and substantial investments in the hospitality and wellness industries further bolster global demand for bath towels, making them an essential product in the market.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$16.3 Billion
Forecast Value	$25.6 Billion
CAGR	5.2%

By distribution channel, the market is divided into online and offline categories. In 2023, offline channels accounted for a commanding 71.4% market share and are anticipated to grow at a CAGR of 5.2% from 2024 to 2032. Physical retail outlets such as hypermarkets, department stores, specialty stores, and wholesalers remain the leading sales channels, offering immediate product access and personalized shopping experiences. While online shopping continues to gain traction, the offline segment maintains its dominance due to its convenience and broad product availability.

The U.S. towel market led the global landscape in 2023, capturing 74.9% of the market share with a projected CAGR of 5% through the forecast period. Factors such as high disposable incomes, a large and diverse consumer base, and advanced retail infrastructure contribute to this leadership position. Additionally, the robust U.S. hospitality sector drives sustained demand for premium, durable towels, further solidifying the country's dominance in the global market.

Consumer preferences for comfort, hygiene, and luxury remain key drivers of the towel market growth. Increased investments in the hospitality and wellness sectors, alongside expanding distribution networks and ongoing innovations in product quality and design, are set to strengthen the market's trajectory worldwide.

Product Code: 12595

Chapter 1 Methodology & Scope

1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360⁰ synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
- 3.6.1 Growth drivers
  - 3.6.1.1 Growing hospitality and tourism industry
  - 3.6.1.2 Rising consumer awareness about personal hygiene
  - 3.6.1.3 Increasing demand for sustainable and eco-friendly products
- 3.6.2 Industry pitfalls & challenges
  - 3.6.2.1 Volatility in raw material prices
  - 3.6.2.2 High competition and market saturation
3.7 Growth potential analysis
3.8 Consumer buying behavior analysis
3.9 Porter’s analysis
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Type, 2021-2032 (USD Billion)

5.1 Key trends
5.2 Bath towels
5.3 Hand towels
5.4 Kitchen towels
5.5 Others

Chapter 6 Market Estimates & Forecast, By Material, 2021-2032 (USD Billion)

6.1 Key trends
6.2 Paper
6.3 Cotton
6.4 Linen
6.5 Microfiber towels
6.6 Others

Chapter 7 Market Estimates & Forecast, By Price, 2021-2032 (USD Billion)

7.1 Key trends
7.2 Low
7.3 Medium
7.4 High

Chapter 8 Market Estimates & Forecast, By End Use, 2021-2032 (USD Billion)

8.1 Key trends
8.2 Residential
8.3 Commercial
8.4 Industrial

Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion)

9.1 Key trends
9.2 Online
- 9.2.1 E-commerce site
- 9.2.2 Company website
9.3 Offline
- 9.3.1 Specialty stores
- 9.3.2 Supermarkets/Hypermarkets
- 9.3.3 Others

Chapter 10 Market Estimates & Forecast, By Region, 2021-2032 (USD Billion)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Russia
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
10.6 MEA
- 10.6.1 South Africa
- 10.6.2 Saudi Arabia
- 10.6.3 UAE

Chapter 11 Company Profiles

11.1 1888 Mills
11.2 Alok Industries
11.3 Feroze1888 Mills
11.4 Himatsingka Linens
11.5 Indus Home
11.6 Izawa Towel
11.7 Loftex China
11.8 Möve Frottana
11.9 Noman Group
11.10 Standard Textile
11.11 Sunvim
11.12 Trident
11.13 Welspun
11.14 WestPoint Home
11.15 Zorlu Textiles

Towel Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032