Cotton Towel Market is Anticipated to Reach Valuation of USD 7.24 Billion by 2032; Increasing Demand from Textile Industry to Progress Market Exponentially

The global cotton towel market size is projected to display a robust growth by reaching USD 7.24 billion by 2032. Fortune Business Insights™ in its report titled “Cotton Towel Market Size, Share & Industry Analysis, By Type (Pima, Egyptian, Turkish, and Blended), By Application (Household and Commercial), By Distribution Channel (Online and Offline), and Regional Forecast, 2025-2032” observes that the market size in 2024 stood at USD 4.48 billion and will reach USD 4.73 billion in 2025. The market is expected to witness a strong CAGR of 6.28% during 2025-2032. Increasing need and demand from the textile industry making consumers more aware regarding healthy and luxurious living is projected to drive market growth. Consumers have been changing their preferences towards comfortable and soft towels which are designed for various uses. Increasing demand from the hospitality sector is expected to expand market development for cotton towel.

Welspun India Ltd. to Enhance Its Core Bath and Bed Sheets Business

Market players have been enhancing their product portfolio by increasing their brand presence and geographical expansion. In November 2022, Welspun India Limited announced that it will enhance and strengthen its core bath and bed sheets business and entering into blankets and throws in North America. The company is also increasing its reach by increasing brand and license business share in key markets such as the U.K., South East Asia, and others.

Cessation on Tourism Activities Led to Negative Market Growth

Owing to the COVID-19 pandemic, shops were forced to close owing to several restrictions and lockdowns which led to loss in the market. The halt on tourism activities led to the decline in the market growth. The pandemic also created various business opportunities for national and global brands as they had the opportunity to offer their products using online channels. With offline channels were totally closed, the online shopping outlets gained a competitive cotton towel market share in the year 2020.

Demand for Health & Hygiene to Expand Demand for the Product

Increasing awareness reagrding health and hygiene by consuming quality products is anticipated to propel the market growth. Increasing number of household and commercial settings such as hotels, restaurants, and fitness centers have been pushing growth.  Growing demand from residential and commercial sectors is expected to lead growth of the market. According to U.S. Census Bureau statistics, new residential housing sales in the U.S. increased from nearly 770,000 housing units to 1000,000 units in from January 2020  to January 2021.

However, high fluctuations in the costs of the raw materials is expected to hamper the market growth.

New Product Launches by the Market Players to Drive Market Share

Key players in the market have opted for new product launches. For example, In June 2021, OURA announced its new wellness product, the Alta towel, which is engineered with CottonX. It is a proprietary fiber and textile technology that reduces bacteria, mold, and musty aromas by killing bacteria and self-sterilizes.  The company is expected to have a strong presence for a long time which is anticipated to strengthen market growth.

Key Industry Development

• September 2021: Welspun India Limited announced its investment plan of USD 108-110 million for production capacity expasnion in flooring and textile business products. The expansion includes the approval of towel manufacturing capacity in Gujrat. The increase will be from current 102 thousand MTPA to 85.40 thousand MTPA.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cotton-towel-market-103847

List of Key Companies Profiled in the Market Report:

• Utopia Deals (U.S.)
• Grund America (U.S.)
• Dunroven House (U.S.)
• Orahome (U.S)
• Welspun India Limited  (India)
• Trident Group (India)
• MATTEO (U.S.)
• ELSATEX Ltd.  (U.K.)
• Red Land Cotton (U.S.)
• Danica Studio (Canada)

Further Report Findings

• The market in Asia Pacific is expected to hold largest part in cotton towel market share due to increasing number of hotels and restaurants in countries such as China and India.
• Emergence of small scaled textile manufacturers in countries such as China, India, Japan, Indonesia, and others. The leading region is expected to have a healthy CAGR due to increasing need for towels from hotel and spa industry.
• North America is expected to have considerable growth in the market due increasing demand for towels. Increasing number of manufacturers and sellers in the region to lead to increased variety and easy availability of high end luxury home textiles.
• Egyptian type accounts for the largest part due to its various benefits such as heavy-duty, plush, and ultra-soft due to high absorbent action.

Table of Segmentation