The global toilet paper market is set to gain momentum from the rising awareness of deforestation while producing paper pulp. This information is given by Fortune Business Insights™ in a new report, titled, “Toilet Paper Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2020-2027.” The report further states that the market size was USD 26.14 billion in 2019 and is projected to reach USD 38.34 billion by 2027, exhibiting a CAGR of 4.9% during the forecast period.
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List of Key Players Profiled in the Toilet Paper Market Report:
Segments-
Household Segment to Grow Rapidly Stoked by Rising Number of Nuclear Families
Based on application, the household segment generated 60.16% in terms of the toilet paper market share in 2019. This growth is attributable to the increasing usage of this paper in homes as it is considered to be an essential daily-use commodity. Besides, the surging trend of living alone, as well as the rising number of nuclear families in urban areas would aid the growth of this segment.
Regional Analysis-
Surging Number of Hospitality Facilities to Favor Growth in Europe
Geographically, Asia Pacific earned USD 9.55 billion in 2019 in terms of revenue. Though the per capita toilet paper usage is relatively lower in this region, the rapid industrialization and urbanization would result in the development of improved restrooms, thereby leading to rising demand.
North America, on the other hand, is anticipated to grow significantly backed by the rising spending power of people residing in Canada and the U.S. Europe is set to show rising usage of this paper because of the increasing number of hospitality facilities in the region.