Research Support Specialist, USA
The global tissue and hygiene paper market size is expected to reach USD 319.1 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 5.0% from 2021 to 2028. The rising population in developing economies like India and China is leading to more utilization of tissue and hygiene paper, subsequently driving the market.
Growing government initiatives regarding the development of green and environmentally sustainable consumer products are expected to propel the demand for biodegradable tissue and hygiene paper. Therefore, major market players are investing in the development of biodegradable and recyclable hygiene and tissue paper to lower the extensive cutting of trees, thereby decreasing the burden on the environment. Furthermore, increasing awareness regarding better hygiene requirements and public sanitation among consumers is expected to propel the growth of this market during the forecast period.
The growing investment by market players to introduce new sustainable and eco-friendly products is further projected to boost the industry sales. However, varied and high prices of raw materials, government regulations and policies, and ease of accessibility to substitute products are some of the major factors that may hinder the growth of the market over the forecast period.
The mounting infrastructural developments associated with distribution channel in developing markets is projected to offer easy access and market penetration to such essential commodities. Likewise, owing to the COVID-19 pandemic effect, consumer preferences have shifted towards online buying methods for daily essential products, which further are expected to boost the growth of this industry growth.
The toilet paper segment accounted for the largest revenue share of more than 25.0% in 2020. The growth of the segment can be credited to the increasing demand for these products. The demand for toilet paper is rising considerably not only among households but also among institutes, offices, hotel sector, hospitals, and travel industry, thus generating significant demand from the commercial sector. All these factors are expected to support the growth of this segment in the coming years.
The online segment will register the fastest CAGR of 6.6% from 2021 to 2028. This can be attributed to the growing popularity and usage of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. In addition, an upsurge in sales of tissue and hygiene paper mainly through company-owned websites and other e-commerce platforms, such as Amazon and Walmart, is anticipated to drive the online distribution channel segment in the coming years.
Asia Pacific led the global market in 2020 with a revenue share of more than 35.0%. This growth is due to the rising demand for hygiene and tissue paper from developing countries, such as India, China, and Japan. The growing population and escalating disposable income are chief factors driving the demand for hygiene and tissue paper. Furthermore, there has been significant demand for eco-friendly and sustainable products in this region. This, in turn, will drive the regional market over the forecast period.
The report “Tissue And Hygiene Paper Market Size, Share & Trends Analysis Report By Type (Toilet Paper, Feminine Hygiene), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global tissue and hygiene paper market on the basis of type, distribution channel, and region: