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Global Kitchen Towel Market 2018-2023 to Post a CAGR of Nearly 6% | IMARCGroup
Growth Predicted For Global Kitchen Towel Market : Opportunity & Overview Till 2023
The 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 “Global Kitchen Towel Market: 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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