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Towel Market Share
The market is characterized by fragmentation, with numerous regional and global players employing diverse strategies to capture market share. Together these companies hold a market share of 5%-10% of the total market. The fragmented market sees players adopting strategies like product innovation, eco-friendly manufacturing, personalized offerings, strategic partnerships, aggressive pricing, extensive distribution networks, online retail expansion, and branding for differentiation.
Towel Market Companies
Major players operating in the towel industry are:
- 1888 Mills
- Alok Industries
- Feroze1888 Mills
- Himatsingka Linens
- Indus Home
- Izawa Towel
- Loftex China
- Möve Frottana
- Noman Group
- Standard Textile
- Sunvim
- Trident
- Welspun
- WestPoint Home
- Zorlu Textiles
How big is the towel market?
The global towel industry was valued at USD 16.3 billion in 2023 and is estimated to grow at a 5.2% CAGR from 2024 to 2032, driven by the expansion of the hospitality and tourism sectors.
Why is the use of bath towels rising?
The bath towels segment recorded USD 9.2 billion in 2023 and is expected to grow at a 5.4% CAGR during the forecast period due to their widespread use in residential and commercial sectors.
What is the size of the U.S. towel industry?
The U.S. dominated the North America towel market with a 74.9% share in 2023 and is projected to grow at a 5% CAGR, driven by a robust consumer base and high disposable income levels.
Who are some of the prominent players in the towel industry?
Key players in the industry include 1888 Mills, Alok Industries, Feroze1888 Mills, Himatsingka Linens, Indus Home, Izawa Towel, Loftex China, Möve Frottana, Noman Group, Standard Textile, and Sunvim.