Toilet Paper Market Projected to Expand with a CAGR of 4.8% by 2030, Says MarkWide Research Report
According to a new report published by MarkWide Research, titled “Toilet Paper Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030”, the toilet paper market is anticipated to witness substantial growth, projecting a Compound Annual Growth Rate (CAGR) of 4.8% over the forecast period from 2023 to 2030.
The report provides a comprehensive analysis of the global toilet paper market, taking into account various crucial aspects such as market trends, drivers, challenges, and opportunities. With the increasing awareness of hygiene and sanitation among individuals, coupled with the growing population worldwide, the demand for toilet paper has been on the rise. The report suggests that factors like urbanization, changing lifestyles, and increasing disposable income are contributing to the expansion of the toilet paper market.
One of the key drivers identified in the report is the growing focus on personal hygiene, which has led to a significant shift towards the use of premium and specialized toilet paper products. Consumers are increasingly looking for enhanced comfort, softness, and durability in toilet paper, thereby boosting the demand for high-quality products in the market.
The report segments the toilet paper market based on product type, distribution channel, and region. By product type, the market is categorized into standard, premium, and recycled toilet paper. Among these, the premium segment is expected to witness substantial growth, driven by the rising preference for luxurious and innovative toilet paper products that offer added features such as fragrance and moisturizing agents.
In terms of distribution channels, the report covers supermarkets/hypermarkets, convenience stores, online retail, and others. The online retail segment is projected to register remarkable growth during the forecast period, owing to the increasing penetration of e-commerce platforms and the convenience of doorstep delivery.
Geographically, the report assesses the market across regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is expected to dominate the market share, attributed to factors like a large population base, rapid urbanization, and changing consumer preferences. The report also highlights the emerging markets in this region, which are witnessing a surge in demand for toilet paper products.
However, the toilet paper market is not without its challenges. The report discusses the potential impact of environmental concerns regarding deforestation and excessive use of paper in toilet paper production. Manufacturers are striving to adopt sustainable practices and use alternative materials to mitigate these concerns. The growing trend of “green” or eco-friendly toilet paper is gaining traction among environmentally conscious consumers.
The “Toilet Paper Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030” report emphasizes the competitive landscape of the market, profiling key players such as Procter & Gamble Co., Kimberly-Clark Corporation, Georgia-Pacific LLC, and Svenska Cellulosa Aktiebolaget SCA. These companies are focusing on product innovation, strategic partnerships, and expansion to maintain their market position.
In conclusion, the toilet paper market is poised for substantial growth over the forecast period, driven by factors like increased awareness of personal hygiene, changing consumer preferences, and the adoption of eco-friendly practices. The report provides valuable insights for businesses, investors, and stakeholders looking to tap into the opportunities presented by this expanding market.