A towel is a piece of absorbent fabric used to dry or wipe a body or a surface. It draws moisture through direct contact. Several types of fabric towels are used in households, including hand towels, bath towels, Bathrobes, and kitchen towels. At the beach, people use beach towels. It is easily available in hypermarkets & supermarkets, specialty stores, online retail. Most towels are made of cotton and polyester.
MARKET SCOPE
The "Global Towels Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the towels market with detailed market segmentation by type, material, distribution channel, and geography. The report provides key statistics on the market status of the leading towels market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global towels market is segmented into hand towel and bath towel.
- Based on material, the global towels market is segmented into cotton, polyester, and others.
- Based on distribution channel, the global towels market is segmented into hypermarkets & supermarkets, specialty stores, online retail, and others.
MARKET DYNAMICS
Drivers:
- Growing awareness, consumers are spending huge amounts of money on health and skin care, especially urban consumers where the adoption of shower gel is much higher.
- Growing consuming class and the increase in spending power of people in Asia Pacific.
- Rapidly changing fashion trends, and increasing awareness about hygiene.
- Changing lifestyle, rising brand consciousness.
Restraints:
- Rise in labor cost.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The towels market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the towels market in these regions.
IMPACT OF COVID-19 ON TOWELS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The chemical & materials industry is one of the major industries suffering serious disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns, as a result of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the towels market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from towels market are anticipated to lucrative growth opportunities in the future with the rising demand for towels in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the towels market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Regal Towel Collection
- Noman Group
- Welspun
- Dunroven House
- Trident Group
- Sunvim
- Elsatex Ltd
- Iris Hantverk
- Danica Studio
- American Textile Systems