Beach Towels Market Forecast to 2028
The beach towels market share is projected to grow from US$ 535. 06 million in 2022 to US$ 707. 15 million by 2028; it is expected to grow at a CAGR of 4. 8% from 2022 to 2028. The beach towels market is accelerating owing to the surge in beach tourism and increase in recreational activities at beaches.
New York, Dec. 15, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Beach Towels Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type, Material Type, and Distribution Channel” – https://www.reportlinker.com/p06373272/?utm_source=GNW
Beach towels provide a comfortable place to sit or lie down, they also protect the person from the hot sand and prevent the beach chair from getting sand on it.
The flourishment of e-commerce is providing lucrative growth opportunities to the beach towels market.Moreover, due to hectic work schedules, people are increasingly focusing on reviving their mental health by visiting recreational destinations, including beaches.
Apart from scenic beauty and fresh air, beaches are largely visited for experiencing various innovative recreational activities, thereby further adding to the popularity of beach vacations.As most the beach activities involve water sports, beach towels have become one the essential commodity.
However, less awareness about the benefits of beach towels and the availability of cost-effective regular towels are among the major factors hampering the beach towels market growth.
Moreover, the popularity of beach tourism is increasing across Europe.According to the Ministry of Foreign Affairs (EU), in 2019, approximately 60% of European tourists preferred vacation along the seaside, of which 29% preferred a beach holiday.
Moreover, sunbathing is highly advised due to its therapeutic benefits.It can kill bacteria.
This makes travelers opt for beach vacations, thereby surging the demand for beach towels and propelling its market expansion.
In 2021, Asia Pacific held the largest revenue share of the global beach towels market.The retail sector is growing rapidly in Asia Pacific.
The growth of the online retail industry in Asia Pacific is attributed to the growing reach of smartphones, increasing number of logistics service providers for e-commerce players, and changing consumer behaviors due to the COVID-19 pandemic.Thus, the demand for beach towel is increasing across the region.
Moreover, beach towels are preferred as they provide comfort to sit or lie on the beach, protecting from the hot sand.Fabrics and personal care products are gaining traction in the region.
Also, the increasing purchasing power, leading to higher expenditure on personal care products is augmenting the beach towels market growth in Asia Pacific. According to the World Bank Organization 2021, the household disposable income of Asia Pacific has been revised to 7.9%. These factors are driving the demand for beach towels.
Transforming lifestyle, growing awareness, and rapidly changing fashion trends led to the adoption of beach towels in the region. Further, people’s urge to explore new destinations and rising trend of spending vacations at oceans fueled the demand for beach towels across the region.
Dock & Bay Ltd, Snappy Towels Inc, Tofino Towel Co, Canningvale Australia Pty Ltd, Pendleton Woolen Mills Inc, Oasis Towels, Sandex Corp, Hatton Textiles International Ltd, Qihai Textile Co Ltd, Melody Blue LLC are among the major players operating in the global beach towels market.Market players continuously focus on strategic development initiatives such as research and development, merger & acquisitions, expansion and new product launches for offering high-quality and innovative products.
These strategies boost the demand for beach towels and are expected to drive the market growth in the forecast period.
The size of the overall global beach towels market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants—such as valuation experts, research analysts, and key opinion leaders—specializing in the beach towels market.
Read the full report: https://www.reportlinker.com/p06373272/?utm_source=GNW
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