The tissue towel market has been in its maturity stage with regards to the product life cycle, and the current penetration rate is considerably high worldwide. Since several market participants have a strong distribution base and eye-catching product portfolio, they are now focusing on differentiating themselves by focusing on innovation which could help cater to the varying needs and demands of target customers. The demand for superior quality tissue is presumed to remain steady, especially in North America and Western Europe.
According to a report published by Future Market Insights (FMI), the global tissue towel market is projected to witness a meagre CAGR of 1.5 % rising from a valuation of US$ 50,346.7 Mn in 2017 to a valuation of over US$ 59, 500 Mn by the end of 2028.
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Adoption of TAD Technology Prevails in Pursuit of Top-notch Quality
During the past few years, both premium brand and private label products needed a quality upgrade in order to cater to evolving consumer requirements. The highest quality tissue and towel products is typically made using TAD technology. The softness and bulk of TAD ultra-bath tissue and the absorbency of TAD premium towels are unmatched. TAD technology is also employed for producing a wide range of products using feedstock ranging from all virgin to all recycled.
Advanced Characteristics of Tissue Towel to Trigger Demand in Coming Years
The quick drying ability of tissue towel, in addition to its proven capability to efficiently reduce the chances of contamination – especially in the washroom environment, will continue to play a pivotal role in driving sales. A wide number of manufacturers offer convenient packaging that enables consumers to carry a tissue towel pack apparently anywhere, which is another strong reason expected to sustain the sales. Improved standard of living among a large consumer base in developing economies will reportedly push the demand for tissue towel and other health and hygiene products. In developed regional markets such as Europe, significantly growing workforce has been resulting in expanding per capita income as well as per capita household expenditure. According to Eurostat, household real consumption per capita increased by 0.6% in the second quarter of 2017, after an increase of 0.2% in the first quarter of 2017. Tissue towel manufacturers are thus witnessing a slight thrust in European market. However, the overall market growth will remain sluggish.
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Some of the key end-use industries generating the demand for tissue towels include hospitality, healthcare, and other commercial sectors, which are reportedly shifting their preference towards products such as hand dryers. A majority of market participants are adopting online marketing as an effective way to accelerate the sales of tissue towel and related products, especially through social media. Consumer awareness is being increasingly targeted by introducing a range of innovative and unique products to the market, frequently.