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A bath towel is one of the most essential consumer goods product which is considered to be available in every household. It's rapid absorbent, easy to use, durability, and ability to quickly dry makes it more preferable than other types of substitute products. There is an elevating demand of the product in the spa industry as their treatments include dealing with water and different forms of liquid solution. Moreover, the rising popularity of the installation of a swimming pool attached to homes also assists to escalate the demand as it encourages the use of bath towel for keeping the body dry. Additionally, there is an increase in the purchase of the product particularly by people living in extremely hot weather conditions as people generally tend to take bath several times a day. For instance, according to the World Population Review data issued, 2020, the global top 5 hottest countries include Burkina Faso, Mali, Kiribati, Tuvalu, and Djibouti. Their average yearly temperature is estimated to be 82-degree Fahrenheit.
The rising construction of hotels and motels around the world also plays an important role in the upsurge in demand of the product as the majority of those places are expected to provide the bath towel to their guest. According to the well trusted UK leisure, travel & tourism company ‘Condor Ferries hotel industry statistical report of 2020’, there is an estimation of 91,000 hotels and motels present in the United States. Furthermore, the increasing number of visitors to water parks across the globe escalate also contributed to the rising usage of the bath towel as bath towel is an essential product which to helps quickly dry up. Additionally, the escalating growth of the health and fitness industry also indirectly plays a crucial for the increasing demand as a large number of gymnasium offers the clients a bath towel and showering rooms.
However, the eruption of trade wars between different nations generate un-certainty to the global trade and commerce as there is an increase in tariff on the import and export of goods, and this thus acts as a restraining factor for the market growth.
Key Market Driver -
The escalating demand of the product in hotels and motels act as a driving factor for the market growth.
Key Market Restraint -
The un-certainity of global trade and commerce act as a hampering factor for the market growth
Regal Towel Collection, Huaian Rainbow Towel Weaving Co., Ltd., Danica Studio, Iris Hantverk, Dunroven House, DMC, Gemini, Elsatex Ltd, Nine Space, and others are the key players operating in bath towel market.
The bath market is fragmented into by material use, by type, by sales channel, and by geography.
On the basis of material use, the market is segmented into bamboo fiber, cotton, micro fiber, and others. Cotton is projected to be the dominating segment on an account of offering high absorbent rate, affordable to large number of consumers, and environmental friendliness it is often chosen over other types of segments.
Based on type, the market is divided into synthetic and natural. Natural is projected to be the dominating market owing to natural-based towel offering skin-friendliness as it is free from petrochemicals.
By sales channel, the market is grouped into an offline store and online store. Offline is anticipated to be the dominating region due to obtaining the product in bulk from manufacturers it offers in a lower price range than other places.
On the basis of region the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The Asia Pacific is estimated to be the dominating region and is anticipated to continue during the forecast period of 2020-2027. The rising standard of living results in the growing number of recreational places for water sports such as surfing, sailing, jet-skiing, and others, and this acts as a propelling factor for the increasing consumption of the product. The tourist destination receiving an escalating number of visitors especially in countries like Singapore, Thailand, Japan, South Korea, and others also helps to flourish the market growth. For instance, according to the US Today, the top 5 tourist destinations in Asia are Bali, Indonesia: Beaches Galore; Bangkok, Thailand: Most Asian Arrivals; Beijing, China: History on a Massive Scale; Hong Kong, China: Victoria Peak.
North America is estimated to display significant growth during the coming years owing to the rising number of people visiting this region for business or vacation purposes. It helping to gain more traction for the product as a bath towel is an essential product which every traveler needs. Additionally, the increasing number of people participating in outdoor activities also helps to boost the market growth as they are anticipated to shower several times a day. For instance, according to the article published by the Outdoor Industry Association, in July 2018, there is an assessment of 49% of the American population of age 6 years and above are anticipated to participate in outdoor activities.
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