Home Textiles Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Home Textiles Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The Indian Texpreneurs Federation (ITF) reported that the global home textiles market was valued at approximately US$135 Bn in 2022. Since then, the textiles industry has undergone significant changes, particularly during the peak of the pandemic in 2020-2021. Currently, home textiles hold a share of more than 12% in the overall textile and apparel exports, with wholesale home textiles contributing around 8-10% to the entire textile industry. The home textiles market has maintained a stable growth trajectory and is expected to show promising growth in the coming years. It has become a highly profitable segment of the textiles industry, driven by increasing consumer expenditure on lifestyle and hygiene products.

Key Report Findings
The report highlights that the home textiles market is projected to experience a Compound Annual Growth Rate (CAGR) of around 5.8% during 2023 – 2030. The unprecedented expansion of the housing sector, particularly in fast-developing Asian markets, will further strengthen the market. Bed textiles, including bed linen, bedspreads, bed covers, mattresses, duvets, and pillows, register significantly high sales in the global home textiles industry. North America and Europe collectively capture more than 60% of the market value pie. China, India, Turkey, and Pakistan remain the major exporters to North America and Europe. The growing e-commerce sector will also be a major contributor to the market's growth.

Growth Drivers
The rapid expansion of the housing sector with new housing projects and home renovation and remodeling activities will continue to drive home textiles consumption and boost the market. Growing consumer affluence and improving standards of living, especially in fast-developing Asian nations, are also contributing to the market's growth. The fashion sensitivity of modern urban consumers is leading to innovations in home furnishings and décor, with the demand for digitally printed home textiles increasing rapidly.

Overview of Key Segments
Based on application, the key categories of the home textiles market include bed textiles, bath textiles, living room textiles, kitchen and dining textiles, and floor coverings. Bed textiles, including bed linen and bedspreads, currently lead in terms of sales. Bath textiles are also expected to demonstrate impressive sales performance, driven by rapid adoption across the housing and hospitality sectors. The report highlights the significance of online sales in rapid market expansion.

Notable Market Trends
The report identifies sustainable materials and the rising popularity of nonwovens as exciting trends in the home textiles market. Environmentally sustainable home furnishings and the use of sustainable fibers like bamboo, soya, banana, and hemp fiber are expected to have a lasting influence on the market. However, the use of sustainable materials in textiles is associated with higher premium prices. Despite this, several brands are accelerating their journey toward sustainable production for long-term environmental and economic impact.

Growth Opportunities Across Regions
North America and Europe are the largest home textiles markets, but they majorly depend on imports from leading Asian exporters such as China, India, Turkey, and Pakistan. The report highlights the potential for demand surge from China, India, Indonesia, and South Korea in the coming years. The Indian market is projected to demonstrate around 10% growth in revenue by the end of 2030.

Global Home Textiles Industry – Competition Overview
The report covers some of the major industry players in the competition analysis section, including Welspun Group, Trident Group, Shanghai Mercury Home Textile Company, Indo Count Industries, YUYUE Home Textile Co., Ltd., Himatsingka Seide Ltd., Mohawk Industries, Inc., and others. The competition in the market is driven by factors such as customer service, breadth of products, volume purchasing, and effective marketing and merchandising.

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