The global bath towel market size was valued at USD 14.92 billion by 2030. The industry is expected to expand to a CAGR of 4.41% over the study period.

A bath towel is an essential consumer good that is used daily and is present in every household. Due to the growing demand for bath towels for personal use and from other end-use industries such as fitness clubs, hospitals, and hotels, the market is anticipated to grow during the projected timeframe.

Fortune Business Insights™ provides this information in its research report titled “Bath Towel Market, 2024-2030”.

Information Source:

https://www.fortunebusinessinsights.com/bath-towel-market-103899 

Key Companies Covered in the Bath Towel Market:

• Trident Group (India)                     
• Venus Group. (U.S)
• Utopia Deals (U.S.)
• Iris Hantverk (Sweden)
• Orahome (U.S.)
• Welspun (India)
• Looms (India)
• Elsatex Ltd (U.K.)
• Nine Space (U.S.)
• Loftex (U.S.)

Segmentation:

Cotton Segment Fosters Growth Due to Increasing Demand Owing to its Natural Features

In terms of material, the market is classified into cotton, microfiber, bamboo fiber, and others. The cotton segment registered the majority of the bath towel market share in 2022. Owing to its breathability and natural attributes cotton towels have gained popularity.

Online Segment to Witness Highest CAGR Due to Surging Penetration of Internet Users

With respect to distribution channels, the market is bifurcated into online and offline. The online segment is anticipated to expand at the highest CAGR during the forecast period. The growing internet user penetration and the rising influence of social media are responsible for the segment’s growth.

From the regional perspective, the market is divided into North America, the Middle East & Africa, Europe, Asia Pacific, and South America.

Report Coverage:

The report provides a detailed analysis of the major driving and restraining factors affecting the market growth. It further highlights the COVID-19 pandemic impact, the latest trends, and notable industry developments. The report further offers comprehensive coverage of the strategic initiatives undertaken by leading players.

Drivers and Restraints:

Increasing Demand for Bath Towels from End-use Industries such as Hotels, Spas, and Hospitality to Escalate Market Growth

The bath towel market growth is driven by a surge in demand for the product from end-use industries such as hospitality, spa, and hotel. As the hospitality industry needs products that can bear frequent use and laundering without compromising quality, there is a growing demand for easy-to-maintain and durable towels in this industry.

Despite such growth opportunities, price fluctuations of raw materials may impede product penetration, hindering market growth.

Regional Insights:

Asia Pacific Captured Largest Share Owing to Rising Living Standards

Asia Pacific market for bath towels secured the largest share in 2022. The increasing living standards have resulted in the rising number of recreational places for water sports such as surfing, jet-skiing, and sailing, among others, augmenting the usage of the product for drying off hair and body.

Europe captures the second position in the market on account of the growing interest of small and local hotels and motel chains to provide homely experience and better comfort, which propels the demand for superior quality bath towels.

Competitive Landscape:

Market Players Focus Mergers and Acquisition Strategies to Offer Enhanced Products

Companies are emphasizing the launch of new products for particular applications due to various demands based on utilization. Moreover, other market players are adopting different strategic initiatives such as collaborations, joint ventures, and others. Several companies are also focusing on mergers and acquisition strategies to deliver enhanced capabilities of products.

Key Industry Development:

January 2023: Marcal Paper, a leading recycled and eco-friendly bath, towel, and tissue products manufacturer, announced the acquisition of von Drehle Corporation, a premier quality towel and tissue product manufacturer for the away-from-home market. Moreover, a wide range of products is offered by the combined company.