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Kitchen Towel Global Market Report 2023
Major players in the kitchen towel market are Kimberly-Clark Corporation, Koch Industries, Inc., Procter and Gamble Corporation, WEPA Professional GmbH, Svenska Cellulosa Aktiebolaget, Wausau Paper Corp.
New York, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Kitchen Towel Global Market Report 2023" - https://www.reportlinker.com/p06251089/?utm_source=GNW
(Tork US), Accrol Group Holdings Plc, Aldar Tissues, Rodriquez Pty, and Towel Depot.
The global kitchen towel market will grow from $2.43 billion in 2022 to $2.55 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The kitchen towel market is expected to grow to $3.01 billion in 2027 at a CAGR of 4.2%.
The kitchen towel market consists of sales of linen, cotton and terry cloth.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The kitchen towel refers to a multi-functional product that is employed for a wide range of purposes, such as drying hands, keeping the kitchen spotless, and cleaning dishes, knives, cutting boards, and other kitchen items. Kitchen towels are ideal for drying dishes and other kitchen objects because of their great absorbency and softness.
Asia Pacific was the largest region in the kitchen towel market in 2022.North America was the second largest region in the kitchen towel market.
The regions covered in the kitchen towel report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of kitchen towels are cloth-based and paper-based.Cloth-based kitchen towels are made up of linen, terry, and cotton cloth.
It is distributed through supermarkets and hypermarkets, convenience stores, online stores, and others that are used by commercial and residential users.
Due to the growing lifestyle needs of the rising urban population, demand for high-quality home and personal care products has grown exponentially, thus driving the kitchen towels market. According to WHO, the global urban population grew by 1.84% in 2021 and is expected to grow by 1.63% per year between 2021 and 2025, and 1.44% per year between 2025 and 2030. A rising urban population coupled with increasing disposable incomes is catalyzing the demand for personal care products such as kitchen towels. Moreover, their penetration in emerging markets is also increasing as a result of westernization and globalization.
Inflation in raw material prices is one of the major constraints for declining market growth.Many vendors use cellulose fiber to make paper-based towels, in the form of kraft pulp or fibre recycled from recycled waste paper.
Market forces like demand and supply of raw materials affect costs which impact selling prices when combined with energy and transport costs.For instance, in September 2022, the US Producer Price Index for Woodpulp is at 264.30, up from 252.13 last month and 210.93 from one year ago. This represents a change of 25.30% from last month and 4.83% from this time last year. Therefore, such factors can restrain the market growth of the kitchen towels market.
Private labels offer low-cost manufacturing products that allow them to offer a wide range of products at competitive prices.As a result, they have a superior market penetration that has been affecting the other vendors in the market.
Private brands account for nearly 80% of the market in Western Europe.Accrol is the leading supplier to the private label market, which is growing at over 8% year on year.
Innovation and constant marketing within this market are of utmost importance. The emerging trends within this segment such as increased absorption, new prints, and environmentally friendly goods have been adopted by private labels.
The countries covered in the kitchen towel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The kitchen towel market research report is one of a series of new reports that provides kitchen towel market statistics, including kitchen towel industry global market size, regional shares, competitors with a kitchen towel market share, detailed kitchen towel market segments, market trends and opportunities, and any further data you may need to thrive in the kitchen towel industry. This kitchen towel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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