Europe Tissue and Hygiene Paper Market Is Estimated To Witness High Growth Owing To Increasing Disposable Income and Changing Consumer Preferences
The Europe Tissue and Hygiene Paper Market is estimated to be valued at US$ 50.55 Bn in 2021 and is expected to exhibit a CAGR of 1.62% over the forecast period 2021-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Europe tissue and hygiene paper market comprise various products such as toilet paper, facial tissue, paper towels, napkins, and others. These products have become an essential part of everyday life, providing convenience and hygiene. They find extensive applications in residential as well as commercial sectors, including hotels, restaurants, hospitals, and offices. The growing awareness about hygiene and the increasing disposable income of individuals are the major driving factors for the market.
Market Dynamics:
- Increasing Disposable Income: With the rise in disposable income, consumers are willing to spend more on better quality tissue and hygiene paper products. They are seeking products that are not only hygienic but also provide comfort and convenience. This has led to a shift towards premium products, which offer superior softness, strength, and absorbency.
- Changing Consumer Preferences: There is a growing focus on sustainability and eco-friendly products among consumers. They are becoming more conscious of the environmental impact of products they use. As a result, there is a rising demand for tissue and hygiene paper products made from recycled materials and those that are biodegradable and compostable.
SWOT Analysis:
- Strengths:
1. Increasing demand for tissue and hygiene paper products
2. Continuous product innovation and development
- Weaknesses:
1. Rising raw material prices affecting profit margins
2. Intense competition among key players
- Opportunities:
1. Growing e-commerce market for tissue and hygiene paper products
2. Increasing awareness about personal hygiene in developing countries
- Threats:
1. Stringent regulations on the use of certain chemicals in tissue and hygiene paper products
2. Fluctuating prices of raw materials
Key Takeaways:
- Market Size: The Tissue and Hygiene Paper Market Growth is expected to witness high growth, exhibiting a CAGR of 1.62% over the forecast period. This growth can be attributed to the increasing disposable income of individuals and changing consumer preferences towards premium and eco-friendly products.
- Regional Analysis: Europe is expected to be the fastest-growing and dominating region in the tissue and hygiene paper market. The region has a well-established market for tissue and hygiene paper products, with a high demand from residential and commercial sectors. Moreover, the presence of key players in the region further contributes to its growth.
- Key Players: Key players operating in the Europe tissue and hygiene paper market include Sofidel Group, Kimberly-Clark Corporation, WEPA Industrie Holding SE, Metsä Group, Industrie Cartarie Tronchetti SpA, Lucart SpA, Essity AB, Renova, Procter & Gamble, Cartiere Carrara SpA, Industrie Celtex SpA, Johnson & Johnson Services Inc., Ontex Group, Tosama D.O.O, and Drylock Technologies NV. These players are focusing on product innovation, expanding their product portfolios, and strategic partnerships to gain a competitive edge in the market.
In conclusion, the Europe tissue and hygiene paper market is witnessing significant growth due to increasing disposable income and changing consumer preferences. The market is driven by the demand for premium and sustainable products. Europe is expected to dominate the market, and key players are adopting strategies to stay competitive.
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