The Tissue Products Market is estimated to be valued at US$ 19.73 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Tissue products are used in the form of toilet papers, facial tissues, kitchen towels, wet wipes and napkins. They are used for hygiene and sanitation purposes and provide softness and absorbability advantages. With growing awareness regarding hygiene and sanitation, the demand for tissue products is increasing across the globe. Market key trends: One of the key trends fueling the growth of tissue products market is rising hygiene awareness. Globally, people are increasingly becoming aware about health, hygiene and environmental issues. Proper hygiene has now become an integral part of daily routine. The rising concerns regarding spread of contagious disease and infections is driving the need for effective hygienic practices like regular hand washing and surface cleaning. This in turn is propelling the demand for tissue products like toilet papers, facial tissues and wet wipes across both developed and developing regions. The tissue products manufacturers are launching innovative solutions to cater to evolving hygiene needs of consumers. Porter’s Analysis Threat of new entrants: Low capital requirement and availability of raw materials pose a low threat of new entrants in the tissue products market. However, established brands, economies of scale of existing players, and compliance with stringent regulations act as barriers. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and standard products. However, brand loyalty, hygiene, and quality consciousness increase switching costs for buyers. Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and fewer suppliers globally for raw materials like wood pulp and cotton. Threat of new substitutes: Substitutes like paper towels and napkins pose low threat as tissue products are economical and recognized for hygiene. Competitive rivalry: High due to many global and regional players offering similar products of varying quality and prices. SWOT Analysis Strengths: Strong brands, vast distribution networks, reliable supplies and economies of scale of major players. Weaknesses: Cyclical nature of raw material prices, vulnerability to fluctuations in foreign currency exchange rates. Opportunities: Rising incomes, urbanization, health awareness in developing nations. Growth in away-from-home tissue consumption in public places. Threats: Stringent regulations, increasing customer awareness on environmental and social impacts. Substitution threat from reusable cloth towels. Key Takeaways The global Tissue Products Market Growth is expected to witness high growth, exhibiting CAGR of 5.6% over the forecast period, due to increasing health, hygiene, and environment consciousness. North America dominates the market currently due to early adoption of innovative and premium products. However, Asia Pacific is expected to grow at the fastest pace owing to rising disposable incomes, growing population, and improving standards of living in countries like China and India. Regional analysis: Asia Pacific region is expected to be the fastest growing market for tissue products exhibition CAGR of around 7% during the forecast period. This can be attributed to factors like rising incomes, growing health awareness, changing lifestyles, and rising female workforce in developing countries like China and India. Additionally, ongoing infrastructure development and rapid urbanization are also supporting market growth in the region. Key players operating in the tissue products market are Kimberly-Clark Corporation, Georgia Pacific LLC (Koch industries), SCA (Svenska Cellulosa Aktiebolaget), Procter & Gamble, Clearwater Paper Corporation, Wausau Paper Corp., and Kruger Products, among others. The major players are focusing on incorporating innovative features to their products, expanding their global footprint, and enhancing their product portfolios through strategic mergers and acquisitions to strengthen their market position.
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