According to a new report, published by KBV research, The Global Cotton Towel Market size is expected to reach $6.4 billion by 2031, rising at a market growth of 5.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 3,90,893.9 thousand units experiencing a growth of 15.2% (2020-2023).
Cotton towels, renowned for their softness, absorbency, and hypoallergenic properties, have become a staple in households, hotels, spas, and other sectors worldwide. The past years have seen significant growth in the cotton towel market, fueled by a number of factors, including growing disposable incomes, expanding consumer awareness, the growth of the hospitality sector, and developments in textile technology. This growing demand reflects a broader consumer preference for quality, comfort, and sustainability.
The Offline segment is registering a CAGR of 5.5 % during the forecast period. This segment typically includes brick-and-mortar stores such as department stores, specialty stores, and supermarkets. The preference for offline shopping in this market can be attributed to the tactile nature of towel purchases.
The Egyptian segment led the Global Cotton Towel Market by Type in 2023; thereby, achieving a market value of $2.4 Billion by 2031. Renowned for their long fibers and high absorbency, Egyptian cotton towels are often considered the premium choice in the luxury textiles sector. These towels are especially valued for their softness and durability, resulting from the cotton's long staple fibers that produce smoother and stronger yarns.
The Residential segment is growing at a CAGR of 5.5 % during the forecast period. This dominance can be attributed to the universal daily need for towels in residential settings. Every household requires multiple towels for bathrooms, kitchens, and other domestic uses, driving consistent demand. Additionally, the increasing interest in home décor and personalization has further stimulated the residential segment.
Full Report: https://www.kbvresearch.com/cotton-towel-market/
The Asia Pacific region dominated the Global Cotton Towel Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3 Billion by 2031. The North America region is anticipated to grow at a CAGR of 5% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 5.3% during (2024 - 2031).
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
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