The Europe paper towel market size is expected to gain momentum by reaching USD 6.17 billion while exhibiting a CAGR of 4.6% between 2020 and 2027. This is attributable to the increasing rate of the working women population that propels the demand for innovative sanitary paper towel products in Europe. This information is published by Fortune Business Insights, in its latest report, titled, “Europe Paper Towel Market Size, Share & COVID-19 Impact Analysis, By Product Type Form (Folded and Rolled), Application (Consumer and AFH (Office, Restaurant, Hotel, Hospital, and Others)), Qualities (Strong Absorption and General Absorption), and Country Forecast, 2020-2027.” The report further mentions that the market stood at USD 4.36 billion in 2019 and is anticipated to experience considerable growth in the forthcoming years.
Reduced Consumer Spending to Restrain Market Growth
The novel coronavirus has led to unprecedented economic loss across the globe. This has led to uncertain future prospects that are affecting the s bpending capacity of the consumers as they are reluctant to spend high on things amid the pandemic. This is further likely to affect the market for Europe paper towel during the forecast period. Amidst this, the rising demand for sanitization products such as disinfectants and sanitized paper towels will support the growth of the market in the forthcoming years.
Across Europe paper towels are extensively adopted in kitchens and bathrooms to ensure proper hygiene and cleanliness. The paper towel products soak moisture from the hands and further aid in reducing the bacterial and viral spread on the hand. Often preferred over electric hand dryers, they provide convenience and assurance to the user and are an important part of several hotels and food and beverage outlets across Europe.
Rising Participation of Women Workers to Aid Market Growth
According to the European Commission, in 2019, around 41% of the European Parliament seats were held by women. This is believed to be a record percentage in the history of the European region. The rising participation of women labor force, along with high disposable income is leading to increased demand for the Europe paper towel products such as sanitary paper towels. Additionally, the rapid-paced urbanization and industrialization activities are likely to contribute to the Europe paper towel market growth in the forthcoming years.
Rolled Paper Towel Segment Held 56.60% Market Share in 2019
The rolled paper towel segment, based on product type, is expected to showcase significant growth owing to its cost-effectiveness and large preference by the residential consumers. The segment held a market share of about 56.60% in 2019.
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