Facial Tissue Market is Estimated to Witness High Growth Owing to Increasing Consumer Awareness on Hygiene
Facial Tissue are soft, absorbent, disposable tissues that are used for wiping and cleaning the face. Facial tissues provide hygienic way to wipe facial area and hands. Rising concerns towards health and hygiene among consumers globally has increased the demand for facial tissues. Facial tissues help prevent spread of diseases by trapping and containing bacteria, viruses and other microbes present on hands and face.
The global Facial Tissue Market is estimated to be valued at US$ 13.41 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Increasing consumer awareness on hygiene is estimated to offer significant growth opportunities for facial tissue market size. Consumers nowadays have become more conscious about health, cleanliness and hygiene. Frequent usage of facial tissues helps maintain facial cleanliness and prevents spread of diseases. As products like facial tissues provide convenience of maintaining hygiene, demand for such products is increasing significantly. Manufacturers are launching innovative facial tissues designs and fragranced variants catering to changing consumer preferences. Various awareness campaigns by governments and NGOs on importance of hand and face hygiene during diseases outbreaks are further augmenting the demand. Rising health and hygiene awareness among expanding population globally is expected to drive sizable growth in facial tissue market over the forecast period.
Porter's Analysis
Threat of new entrants: New entrants face high initial investment requirements to build manufacturing facilities and establish distribution networks. There are also economies of scale advantages for existing large players.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of several facial tissue brands and product differentiation based on price and quality. However, facial tissues are considered essential products.
Bargaining power of suppliers: Suppliers of raw materials such as pulp have moderate bargaining power as key players have backward integration capabilities. Supplier switching costs are also moderate.
Threat of new substitutes: Substitutes include paper towels and napkins. However, facial tissues offer portability and convenience which limits threats from substitutes.
Competitive rivalry: The market is dominated by top players like Kimberly-Clark and Procter & Gamble. Intense competition on pricing and marketing strategies.
SWOT Analysis
Strengths: Strong brands, widespread distribution networks, economies of scale advantages
Weaknesses: High fixed costs, vulnerable to fluctuations in pulp prices
Opportunities: Growing e-commerce, rising demand in developing nations
Threats: Public policy on deforestation, stringent regulations on product disposal
Key Takeaways
The global facial tissue market is expected to witness high growth over the forecast period of 2023-2030. Asia Pacific remains the largest and fastest growing regional market due to expanding middle class and hygiene awareness in major countries like China and India.
Regional analysis: Asia Pacific dominates the global facial tissue market with over 40% share. China accounts for over 25% of total demand and India is forecast to be the fastest growing market during the forecast period. Western Europe and North America are mature markets with steady growth prospects.
Key players: Key players operating in the facial tissue market include Kimberly-Clark, Procter & Gamble, Hengan, Vinda, and C&S. Kimberly-Clark and Procter & Gamble together control over 35% of the global market. Players are focusing on product innovation, branding and promotions to strengthen market position. Private label brands also have a significant presence. The market remains consolidated with top five players accounting for majority share.
Get more insights on this topic: https://www.newswirestats.com/facial-tissue-market-size-and-opportunity-analysis-2023-2030/
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