LONDON--(BUSINESS WIRE)--The global tissue paper market is expected to grow at a CAGR of close to 6% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global tissue paper market by product (toilet paper, facial tissue, and paper towel) and by application (commercial places and residential places). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: growing concerns about health and hygiene in developing economies
The tissue paper markets in APAC and MEA are registering substantial growth. This trend in the growth pattern is expected to continue throughout the forecast period. The tissue paper markets in the developing countries have remarkable potential for growth as the markets in the developed regions such as the Americas, and Europe have become quite mature. Factors such as the growing population and increasing awareness about hygiene in the developing countries will have a positive influence on the global tissue paper market during the forecast period.
According to a senior analyst at Technavio for cosmetics and toiletry research, “Manufacturers of tissue papers are concentrating on expanding their markets to countries where the demand for hygiene products is high. Modernization has increased the adoption of numerous health and hygiene products such as tissue papers in developing countries.”
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Market trend: technological developments in manufacturing processes
The vendors are adopting suitable marketing strategies and product extension techniques to stay competitive. Technological advances will enhance the quality of tissue papers and reduce the production costs. The TAD technology saves energy and is extensively used in the US to produce tissue papers. Several market competitors are improving their production procedures by investing in a backward integration process that will reduce the production costs of tissue papers. Expansion through R&D investment into the already existing pulp factories could also help in making these facilities extremely innovative.
Market challenge: threat of prominent substitutes
The demand for hand dryers, particularly in commercial places such as hotels, restaurants, and workplaces has increased substantially around the world. The need for hand dryers as a hygiene device has gained importance because of their convenience and minimal wastage of paper. These devices act as a potential threat to the global tissue paper market as a major part of the sales in the tissue paper market is from the paper towel segment.
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