by The global Tissue Products Market is estimated to be valued at US$ 19.73 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tissue products include facial tissues, toilet paper, paper towels, napkins, and wet wipes. They provide hygiene and absorbency. Tissues are used in households, offices, institutions, and commercially. They are widely preferred for convenience and sanitation.
Market key trends:
One of the major trends in tissue products market is growing demand for eco-friendly sustainable tissues. Consumers are increasingly concerned about the environment and prefer tissue brands promoting sustainability through reduced packaging, use of recycled content, and carbon-neutral manufacturing. Key players are investing in renewable energy projects and switching to recyclable/compostable packaging to meet this consumer demand. They are highlighting their eco-friendly initiatives to attract socially conscious customers and differentiate their brand in the highly competitive market.
SWOT Analysis
Strength: Tissue products have universal application and demand across various industries like healthcare, hospitality, food services etc. They are affordable and provide hygiene.
Weakness: Raw material prices especially pulp prices are volatile affecting production costs. Environmental regulations concerning deforestation can hamper raw material supply.
Opportunity: Rising health awareness and concern for hygiene due to pandemic has increased demand for tissue products. Growing travel and tourism industry spearheads demand from hospitality sector.
Threats: Stiff competition from substitute products like cotton towels, cloth napkins affects market share. Economic downturns can negatively impact various end-use industries utilizing tissue products.
Key Takeaways
The global Tissue Products Market Growth is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing health awareness among consumers. North America dominates the global market owing to high per capita consumption of tissue products in countries like U.S. and Canada. The Asia Pacific region is expected to be the fastest growing market attributed to growing population, increasing health expenditures and thriving e-commerce sector in emerging economies like China and India.
Regional analysis
North America dominates the global tissue products market due to factors like growing health and hygiene concerns. The Asia Pacific region is poised to grow at the fastest pace during the forecast period. Growing middle class population along with rising disposable incomes in developing countries like India and China will propel demand. Furthermore, low production costs and abundant availability of raw materials make Asia Pacific an attractive market for tissue products manufacturers.
Key players operating in the Tissue Products Market are Kimberly-Clark Corporation, Georgia Pacific LLC (Koch industries), SCA (Svenska Cellulosa Aktiebolaget), Procter & Gamble, Clearwater Paper Corporation, Wausau Paper Corp., and Kruger Products, among others. The players operating in the market adopt business strategies such as mergers and acquisitions to enhance their market share. For example, in 2022, Clearwater Paper Corporation agreed to be acquired by Pacific Legend Group for US$ 1.35 billion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
