Home Textile - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020-2029

The Home Textile Market size is estimated at USD 125.74 billion in 2024, and is expected to reach USD 159.12 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

The industry is witnessing steady growth driven by rising consumer spending on home renovation, growing residential real estate, and fashion sensitivity toward household furnishing. The United States and Europe are some of the biggest consumers, constituting more than 50% of the home textiles imports, with countries such as India, China, and Pakistan being the key suppliers. During the pandemic, all countries restricted their supply chain, which had a direct effect on the growth of the home textile market during the period. After the countries lifted their restrictions, the market returned to its pre-pandemic status.

Rising focuses on the market by governments and favorable regulatory policies are expected to be one of the primary reasons for the market disruption. Such support has met with growth in investments in the market, further strengthening development. The global home textile market is expected to face considerable challenges from the high logistics cost. The growing real estate market, along with growing consumer spending on home renovation, is also expected to drive market growth. The increase in popularity of smart homes and the rise in infrastructural development around the world are key factors that are expected to drive the market during the forecast period. Additionally, change in the interior design of residential and commercial spaces is also boosting the home textile market.

Home Textile Market Trends

Bed Linen and Bed Spread Segment is the Largest Growing Segment in the Market

The real estate industry has witnessed high growth over the past few years, so the value of residential construction is increasing. As the number of houses increases, the demand for home textiles will also increase, boosting the demand for products such as bed linen, including bedspreads, blankets, mattresses, mattress covers, pillows, duvets, duvet covers, and bed covers. Furthermore, an increase in the spending of households on home improvement activities such as renovation and DIY improvements is also a key factor driving the Home textile market. Rapid urbanization, rise in residential development, and growing disposable income are responsible for increased housing starts and a strong interest in home renovation projects, which are some drivers for home textiles.

Asia Pacific Region is the Fastest Growing region Home Textile Market Across the Globe

Asia-Pacific accounts for approximately 60% of the global population. It is the dominant production and exporting region of home textiles products and consumes home textiles products. Countries such as India, China, and Pakistan are some of the largest home textiles markets in the Asia-Pacific region. Factors, such as the housing boom in Asia-Pacific, increasing fashion trends in home textiles, and demand recovery from Western economies, are driving the growth of home textiles globally. Key factors driving the robust growth rate of the Asia-Pacific region include surging per capita expenditure, availability of potential consumers in the market, increasing investments by major regional players, and improving lifestyles of consumers. These factors are also driving the demand for home textiles in the market. Coupled with the growth of e-commerce has fueled the rise of home textile sales across the globe. People use e-commerce to purchase home textiles in the comfort of their homes. The changing inclination of customers towards e-commerce shopping is fueling the growth of home Textiles across the globe.

Home Textile Industry Overview

The Home Textile Market is moderately fragmented. The report covers major international players operating in the Global Home Textile Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service. Some key players in the market are Welspun Group, Spring Global, Ralph Lauren, Trident Group, and IKEA System B.V.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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