Global Kitchen Towel Market to Grow at 6.10% CAGR, 2015-2019

 

Research and Markets, Dublin, Ireland, has announced the addition of Global Kitchen Towel Market: Opportunities and Challenges 2015-2019 report to its offering. The analysts forecast the global kitchen towel market to grow at a CAGR of 6.10% during 2014-2019.

The report is based on an in-depth market analysis with inputs from industry experts. It covers the landscape of the market and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One major trend in this market is the increase in use of kitchen towel for aesthetic purpose. Increasing purchasing power has supported demand for high quality and premium brands. New designs, including hand-knitted or crocheted towels, are rising in popularity.

According to the report, one key driver of this market is the increase in urban population. According to the WHO, the urban population in 2014 accounted for 54% of the total global population, up from 34% in 1960. Due to a rise in double-income urban households, the purchasing power of consumers is increasing, making previously expensive home care products more affordable.

Further, the report states that one of the major challenges is inflation in cost of raw material. Many vendors use cellulose fiber, in the form of kraft pulp or fiber recycled from recovered waste paper, for making paper-based towels. Market forces like demand and supply of raw materials affect cost, which when combined with energy and transportation costs, impact selling prices.