According to Fortune Business Insights, the U.S. hotel toiletries market size was valued at USD 5.02 billion in 2022 and is projected to grow from USD 5.53 billion in 2023 to USD 13.17 billion by 2030, exhibiting a CAGR of 13.20% during the forecast period.
This information is cited by Fortune Business Insights™ in its research report, titled “U.S. Hotel Toiletries Market, 2023-2030”.
COVID-19 Impact:
Industry Growth Hampered Due to Closure of Hotels Low Occupancy Rate
The coronavirus crisis has impacted the hospitality industry, affecting the demand for hotel toiletry products in the U.S. While several hotels experienced booking cancellations, some of them were permanently shut down. The product demand recorded a decline on account of the closure of hotels and low occupancy rates. However, the demand is anticipated to rebound and reach pre-pandemic levels due to the rollout of government policies for the revival of the tourism industry.
Fortune Business Insights™ lists out all the u.s. hotel toiletries market companies that are presently striving to reduce the impact of the Covid-19 pandemic on the market:
- Essential Amenities (U.S.)
- Transmacro Amenities (U.S.)
- World Amenities (U.S.)
- Accent Amenities, Inc. (U.S.)
- Hancey Cosmetics (China)
- Kimirica Hunter International (India)
- Yangzhou Jiahua Guest Daily Supply Co., Ltd. (China)
- HD Fragrances (France)
- StyleVision Hotel Supplies GmbH (Germany)
- Hara Naturals (India)
Report Coverage:
The report gives a comprehensive analysis of the major trends that are set to drive the business scenario across various regions. It further provides insight into the key factors influencing the market expansion over the forthcoming years. The additional elements of the report include vital steps taken by major industry participants for consolidating their market position.
Drivers and Restraints:
Growing Product Adoption Due to Increasing Consumer Awareness Regarding Health Hygiene
Recent years have recorded an escalating awareness regarding health and hygiene. This is mainly driven by changing lifestyles, surging health risks, and increasing awareness regarding the need for personal care. The increasing hygiene consciousness is expected to surge the demand for various products, impelling the U.S. hotel toiletries market growth.
However, huge quantities of plastic are generated due to hotel toiletries. Liquid soaps, conditioners, shampoos, and other products packaged in plastic bottles can become waste after usage and pose a threat to the environment. These factors are likely to hamper industry growth to a certain extent.
Segments:
Single-use Toiletries Gain Traction Due to Convenient Storage and Portability
Based on type, the market is segregated into dispensers and single-use toiletries. Of these, the single-use toiletries segment is anticipated to register commendable expansion over the forecast period. The surge can be credited to an array of factors, including convenient storage and portability. On the basis of region, the market is segmented into South U.S., Northeast U.S., West U.S., and Middle West U.S.
Ordinary Hotels Segment to Record Lucrative Growth Owing to the Availability of Basic Services in an Economical Price Range
By application, the market is subdivided into ordinary hotels and luxury hotels. The ordinary hotel's segment held the largest share in 2021 and is expected to record substantial expansion over the forecast period. This is attributed to the fact that ordinary hotels offer basic services to their clientele in an economical price range. Hotels are an ideal option for travelers who are budget-conscious.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
Regional Insights:
West U.S. to Emerge as Prime Region Driven by Growth in the Tourism Sector
The West U.S. hotel toiletries market share is set to register a commendable surge through the analysis period. The surge is mainly being impelled by the growth in the tourism and hospitality industry, particularly across the U.S. states, including Washington, Idaho, Hawaii, Montana, Utah, and California.
Some of the other contributors to market growth comprise the Northeast U.S., Middle West U.S., and South U.S. The industry growth in the South U.S. can be attributed to escalating government investments in the tourism sector.
Competitive Landscape:
Market Players Launch New Products to Sustain Industry Position
Key hotel toiletries companies in the U.S. are focusing on the adoption of a series of strategic initiatives such as mergers, acquisitions, and partnership agreements. These moves are being undertaken for the consolidation of their industry position. Some other steps include growing participation in trade conferences and increasing interest in research activities.
Key Industry Development:
January 2022 – Accor Hotels announced plans to replace plastic toiletries with glass toiletries or wall dispensers by the end of 2022. The chain focused on the replacement of various common hotel items made from plastic – cups, laundry bags, keycards, and others. The move was taken in a bid to reduce the environmental impact.
Frequently Asked Questions (FAQs):
1. How much is the U.S. hotel toiletries market worth?
Answer: Fortune Business Insights says that the U.S. market size was USD 4.58 billion in 2021 and is anticipated to reach USD 11.41 billion by 2029.
2. What was the value of the market in 2021?
Answer: In 2021, the market value stood at USD 4.58 billion.
3. At what CAGR is the market projected to grow in the forecast period (2022-2029)?
Answer: Ascending at a CAGR of 12.45%, the market will exhibit steady growth over the forecast period (2022-2029).
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/u-s-hotel-toiletries-market-106825
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