LONDON--(BUSINESS WIRE)--The tissue paper market is expected to grow by 12.91 million MT during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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The growth of the global tourism and hospitality industry has increased the demand for hotel rooms worldwide. Currently, the occupancy rate in hotels in Europe and APAC is 70% and 69% respectively. Similarly, the increasing occupancy rate in hotels in UAE is fueling the growth of the hospitality industry in the country. By 2020, the hospitality industry in UAE was projected to grow more than USD 9.5 billion. Hotels and spas are some of the major end-users of tissue papers. With the thriving tourism and hospitality industry, the growth of the global tissue paper market will gain momentum during the forecast period.
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As per Technavio, the emergence of innovative products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Tissue Paper Market: Emergence of Innovative Products
Vendors in the market are focusing on product innovations to drive sales as well as to gain an edge over their competitors in the market. Some of the key product innovations include anti-viral tissues that eliminate flu viruses by KCWW and scented toilet papers by Procter & Gamble. Similarly, other manufacturers are introducing dispenser devices that cut bath tissues to a suitable size and fold it into a clean point for the next person's use. Such product innovations are crucial in driving the sale of tissue papers, thereby boosting the growth of the global tissue paper market.
“Technological developments in the manufacturing process and innovations in tissue paper packaging will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Tissue Paper Market: Segmentation Analysis
This market research report segments the tissue paper market by Product (Toilet paper, Facial tissue, Paper towel, and Others), Application (Commercial and Residential), Distribution Channel (Hypermarkets and supermarkets, Specialty stores, Online retail, and Others), and Geographic Landscape (APAC, North America, Europe, South America, and MEA).
The APAC region led the tissue paper market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing focus on hygiene and rising urbanization in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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