Growth Predicted For Kitchen Towel Market : Overview & Opportunity Till 2023
by Rahul Rastogi Market Research AnalystThe global kitchen towel market has witnessed a healthy
growth over the past several years. This can be accredited to the availability
of premium quality kitchen towels along with the introduction of improved
products by the manufacturers.
According to the latest report by IMARC Group, titled “Kitchen Towel Market Report:
Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”,
the global kitchen towel market reached a value of around US$ 12.4 Billion in
2017. Kitchen towels refer to a multi-utility product which is used for various
purposes ranging from wiping up spills and drying hands and kitchen items to
cleaning off cutting boards and holding hot plates and dishes. They are
generally made of cotton and are soft and durable enough to absorb and
withstand repeated uses and washings. Different types of kitchen towels are
available in the market including chef towels (used for drying off herbs,
cleaning off knives in between chopping, handling hot pots, pans, and dishes,
etc.); dish towels (used to prevent water spots from utensils and speed up the
drying process); and tea towels (used as decor to serve muffins and scones or
to cover teapots).
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Global Kitchen Towel
Market Trends:
The number of urban dwellers is expected to reach around 1.8
Billion by 2023, constituting about 60% of the world’s population. This coupled
with the rising spending capacity of the consumers is likely to improve their
standards of living, especially in the emerging regions, compelling them to
purchase more home care products such as kitchen towels. Apart from this, the manufacturers
are also coming up with new hand-knitted or crocheted towels for aesthetic
purposes. Moreover, they are developing kitchen towels using advanced
technology, i.e., Through Air Dried (TAD) process which offers more absorbent
and softer kitchen towels as compared to the conventional technology of Light
Dry Crepe (LDC). In addition, the use of origami non-woven kitchen towels has
gained traction as they are very efficient in cleaning up wet surfaces and can
be washed and reused easily. Looking forward, the global kitchen towel market is
projected to reach a value of US$ 17.6 Billion by 2023, expanding at a CAGR of
around 6% during 2018-2023.
Global Kitchen Towel
Market Summary:
·
Based on product type, the market has been
segmented into cloth-based and paper-based.
Presently, cloth-based kitchen towels represent the most popular product type
across the globe.
·
The market has been segregated on the basis of
end-use into the commercial and residential sectors. Amongst these, the
commercial sector is the leading end-use segment, holding the largest market share.
·
On the basis of distribution channels,
supermarkets and hypermarkets account for the majority of the overall kitchen
towel sales. Other major distribution channels are convenience stores,
specialty stores, online and others.
·
Region-wise, North America enjoys the leading
position in the global kitchen towel market. Other major regions include
Europe, Asia Pacific, Latin America, and Middle East and Africa.
·
The competitive landscape of the market has also
been examined with some of the key players being Kimberly-Clark, P&G, Koch
Industries, Renova, Wausau, Accrol, Aldar Tissues, Rodriquez, Towel Depot and
Wepa.
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Created on May 1st 2019 05:25. Viewed 1,510 times.