Report : Asia Pacific Beach Towels Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Anti-Microbial and Regular), Material Type (Cotton, Microfiber, Polyester, and Others), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 4.0% CAGR, the Asia Pacific Beach Towels Market is speculated to be worth US$ 226.45 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific beach towels market was valued at US$ 178.84 million in 2022 and is expected to reach US$ 226.45 million by 2028, registering a CAGR of 4.0% from 2022 to 2028. Flourishment of E-commerce and product innovation pertaining to beach towels are the critical factors attributed to the Asia Pacific beach towels market expansion.
In recent years, the organized retail sector underwent a massive transformation. The emergence of e-commerce considerably changed the way people shop and spend their money. The increasing penetration of internet and smartphones, easy access to emerging technologies, rising purchasing power, and convenience of shopping from anywhere anytime provided by online retail platforms are among key factors bolstering e-commerce. With increasing adoption of e-commerce services, the demand for beach towels is expected to increase and further anticipated to drive the market growth in future. Moreover, people increasingly prefer online retail platforms for purchasing household products and heavy discounts, wide availability of different brands under one roof, and home delivery options are other notable factors driving the demand for online shopping. With the rising penetration of e-commerce across different countries, manufacturers are expanding their online presence by selling through well-known platforms, such as Amazon.com and Walmart. These factors are likely to contribute to the growth of the Asia Pacific beach towels market by eliminating the dependency on offline retail stores.
On the contrary, availability of substitutes hurdles the growth of Asia Pacific beach towels market.
Based on type, the Asia Pacific beach towels market is bifurcated into anti-microbial and regular. The regular segment held 80.9% market share in 2022, amassing US$ 144.60 million. It is projected to garner US$ 178.21 million by 2028 to expand at 3.5% CAGR during 2022–2028.
Based on material type, the Asia Pacific beach towels market is segmented into cotton, microfiber, polyester, and others. The cotton segment held 53.0% market share in 2022, amassing US$ 94.73 million. It is projected to garner US$ 117.21 million by 2028 to expand at 3.6% CAGR during 2022–2028.
Based on distribution channel, the Asia Pacific beach towels market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The supermarkets and hypermarkets segment held 38.3% market share in 2022, amassing US$ 68.48 million. It is projected to garner US$ 83.44 million by 2028 to expand at 3.3% CAGR during 2022–2028.
Based on country, the Asia Pacific beach towels market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.3% market share in 2022. It was assessed at US$ 45.28 million in 2022 and is likely to hit US$ 61.89 million by 2028, exhibiting a CAGR of 5.3% during the forecast period.
Key players dominating the Asia Pacific beach towels market are Canningvale Australia Pty Ltd., Dock & Bay Ltd, Hatton Textiles International Ltd., Oasis Towels, Pendleton Woolen Mills Inc., Qihai Textile Co. Ltd., Sandex Corp, and Snappy Towels Inc. among others.
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