New York, United States, March 08, 2024 (GLOBE NEWSWIRE) -- The Global Cotton Towel Market Size is to Grow from USD 4.03 Billion in 2023 to USD 7.16 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Cotton towels are widely used in personal care, cleanliness, and various places like homes, hotels, and other places. They're part of the bigger textile and clothing industry. People who want high-quality towels drive the growing demand for cotton towels. This demand is increasing because people's lifestyles are changing, and they want better towels both at home and in businesses. Even people who go to the gym prefer cotton towels for their workouts because they're soft and comfy. Gyms, hotels, and spas play a big role in making the cotton towel market grow by meeting these needs. The hospitality and tourism industry is also a big factor in the demand for cotton towels. Places like hotels and resorts need lots of towels for their guests. So, when the hospitality and tourism industries grow, the demand for cotton towels grows too. People's preferences and trends in the market also affect the cotton towel industry a lot. Changes in how people live, what they like, and their interest in eco-friendly options can change which types of cotton towels are in demand. Global rules about trading can also affect the cotton towel market. If there are changes in these rules, it could make it harder or more expensive to buy and sell cotton towels internationally, which could slow down the market's growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Cotton Towel Market Size, Share, and COVID-19 Impact Analysis, By Type (Turkish, Egyptian, Pima, and Blended), By Application (Households, Commercial), By Distribution Channel (Online, Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The egyptian segment is anticipated to hold the greatest share of the global cotton towel market during the projected timeframe.
Based on the type, the global cotton towel market is divided into turkish, egyptian, pima, and blended. Among these, the egyptian segment is anticipated to hold the greatest share of the global cotton towel market during the projected timeframe. Egyptian cotton has superior fineness and length compared to conventional cotton varieties, delivering an exceptionally soft and luxurious touch experience for consumers. Moreover, its elongated fibers contribute to excellent absorbency in Egyptian towels, ensuring rapid and efficient moisture absorption, thus maintaining users' dryness effectively.
The households segment is anticipated to grow at fastest pace in the global cotton towel market during the projected timeframe.
Based on the application, the global cotton towel market is divided into households and commercial. Among these, the household’s segment is anticipated to grow at the fastest pace in the global cotton towel market during the projected timeframe. Cotton towels have many uses, like drying off after a bath, in the kitchen, and for swimming or other water activities. Cotton is good at soaking up water quickly because it's breathable, making cotton towels last longer. Because of this, more and more households want cotton towels.
The offline segment is predicted to grow at highest pace in the cotton towel market during the estimated period.
Based on the distribution channel, the global cotton towel market is divided into online and offline. Among these, the offline segment is predicted to grow at the highest pace in the cotton towel market during the estimated period.Customers have the convenience of purchasing the product and taking it home instantly, bypassing the delays typically associated with online delivery. Retailers have the flexibility to adjust their product selections according to regional preferences and market demand, resulting in a more customized inventory. As the demand for home textile products continues to increase, prominent players in the textile sector are strategically increasing into the retail market to meet consumer needs.
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Asia Pacific is expected to hold the largest share of the global cotton towel market over the forecast period.
Asia Pacific is expected to hold the largest share of the global cotton towel market over the forecast period. The ongoing trend of more people moving to cities shows that cities are lively and that families are getting bigger, needing lots of cotton towels for their daily use. People are paying more attention to keeping clean, so they prefer cotton towels because they're naturally clean and easy to wash. The market for textile products, especially high-quality ones, is growing, largely because of China's influence. Also, there are more small companies making textiles now, which means people can buy towels at lower prices in countries like China, India, Japan, and Indonesia. This region is expected to see the market for luxury items and high-quality textiles grow. China is a big part of this because of its small textile companies offering cheap options, which helps the market grow overall.
North America is predicted to grow at the fastest pace in the global cotton towel market during the projected timeframe. High-quality cotton towels are experiencing increased demand within the luxury home textiles market, fueled by the growing affluence and elevated lifestyle expectations of consumers. Moreover, the expanding presence of producers and vendors in the area has resulted in a broader array of premium luxury home textile options, enhancing both diversity and accessibility for discerning buyers.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global cotton towel market include Grund America, Luxome, Dunroven House, Welspun India Limited, Utopia Deals, Orahome, Mianrou Family, Trident Limited, Springs Global US, Inc., 1888 Mills, LLC, Standard Textile Co., Inc., Suzuran Medical, Jianghe Group, Shiseido, Good boy, Jeliya, and Others.
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Recent Developments
- In September 2023, Welspun, a leading player in the Indian home textile industry, has introduced a nationwide 3D marketing initiative for its rapid drying towels, featuring the slogan 'Jaldi Sukhe, Jaldi Sukhaye' (Quick Dry, Quick Comfort). These towels, crafted from 100% cotton and equipped with color-lock technology to prevent fading, cater to the contemporary consumer's preference for swift solutions, even in their choice of home textiles and accessories. The campaign aims to capture the attention of modern consumers who prioritize efficiency and convenience in their purchasing decisions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Cotton Towel Market based on the below-mentioned segments:
Global Cotton Towel Market, By Type
- Turkish
- Egyptian
- Pima
- Blended
Global Cotton Towel Market, By Application
- Households
- Commercial
Global Cotton Towel Market, By Distribution Channel
- Online
- Offline
Global Cotton Towel Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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