New York, United States , March 12, 2024 (GLOBE NEWSWIRE) -- The Global Home Textile Market Size is to Grow from USD 121.8 Billion in 2023 to USD 216.3 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Home textiles are defined as a subset of textiles used for furnishings in homes. Interior textiles and apparel are included. Occasionally, they are used for aesthetic rather than functional reasons. Textiles for the home can be made from natural or synthetic materials. However, superior home textile products are more important. Furthermore, the producers of these goods have been experimenting with new tactics, looks, materials, patterns, and applications regularly to impact a large audience. The expansion of the real estate industry and growing living standards have led to an increase in spending on interior design and home décor, which will be a major driver of future growth in the global home textile market. The market will most certainly expand as a result of the rising demand for bed linens and spreads. Bed linens comprise blankets, coverings, duvets, cushions, and bedspreads, among other items. Towels, bath mats, and robes are a few types of bath linen. Due to the rise of end-use industries including housing and hospitality as well as urban consumers' growing fashion consciousness about home furnishings, the demand for bed linens and bedspreads is rising and driving the growth of the worldwide home textile market. However, there are a variety of home textiles accessible; however, increased brand competition may diminish consumer demand. Even Nevertheless, home textiles are now regarded as luxury items, and not every buyer can afford them. The constant variations in raw material costs have an impact on the final cost of the product.
Browsekey industry insights spread across 200pages with 110 Market data tables and figures & charts from the report on the"Global Home Textile MarketSize, Share, and COVID-19 Impact Analysis,By Product (Bedroom Linen, Bathroom Linen, Carpets and Floor Coverings, Kitchen Linen, Curtains and Drapes), By Material (Polyester, Cotton, Silk), By Distribution Channel (Online, Offline),and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The bedroom linen segment is anticipated to hold the greatest share of the global home textile market during the projected timeframe.
Based on the product, the global home textile market is divided into bedroom linen, bathroom linen, carpets and floor coverings, kitchen linen, curtains, and drapes. Among these, the bedroom linen segment is anticipated to hold the greatest share of the global home textile market during the projected timeframe. The segment's growth is attributed to consumers' rising and fluctuating living standards. The bedroom linen is made of soft and comfy materials for a more comfortable experience. The bedding linen is composed of polyester, acrylic, wool, or a combination of these materials.
The polyester segment is anticipated to grow at the fastest pace in the global home textile market during the projected timeframe.
Based on the material, the global home textile market is divided into polyester, cotton, and silk. Among these, the polyester segment is anticipated to grow at the fastest pace in the global home textile market during the projected timeframe. This is because of its strength and durability, this fabric is commonly used for upholstery, bedding, and curtains. It can be machine-washed and dried, making it quite simple to maintain. It also resists shrinking and wrinkles.
Theoffline segment is predicted to grow at the highest pace in the home textile market during the estimated period.
Based on the distribution channel, the global home textile market is divided into online, and offline. Among these, the offline segment is predicted to grow at the highest pace in the home textile market during the estimated period. This is projected to be driven by factors such as increased urbanization and the expansion of supermarkets and hypermarkets, which allow firms to service a broader spectrum of clients. The preference of major manufacturers in the industry to offer their products through offline channels contributes to the rise of the offline category.
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Asia Pacific is expected to hold the largest share of the global home textile market over the forecast period.
Asia Pacific is expected to hold the largest share of the global home textile market over the forecast period. This region's home textile sector is extremely competitive due to the presence of producers with a large geographic reach, well-known brands, and substantial distribution networks. Market participants are anticipated to prioritize product innovation as research and development spending increases. Product growth by application area, pricing competitiveness, and capable distribution networks are some of the most current techniques for attaining a competitive advantage. Given that corporations are employing this strategy to expand their geographic reach, it is expected that the number of mergers and acquisitions will rise over time.
Europe is predicted to grow at the fastest pace in the global home textile market during the projected timeframe. European home buyers usually place a premium on aesthetics and quality. This decision could propel the market for elegant, high-quality home textiles. Furthermore, when disposable income rises in Europe, people may be more willing to spend money on textiles and other home décor and remodeling items. Consumer tastes in the home textiles sector may shift as a result of greater awareness and attention to eco-friendly and sustainable products.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Home Textile Market include Hunan Mendale Hometextile Company Ltd., Springs Global, Ralph Lauren Corporation, Shanghai Hometex, Honsun, Shenzhen Fuanna, Trident Group, Marvic Textiles, New Sega Home Textiles, Welspun Group, LLC Honsun Home Textile, and Others.
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Recent Developments
- In January 2023,BKS Textiles, an Indian home textile manufacturer, disclosed plans to launch "Ekoscious," a collection of eco-friendly bedding manufactured from recycled polyester, cotton, hemp, linen, bamboo, and Tencel.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Home Textile Market based on the below-mentioned segments:
Global Home Textile Market, By Product
- Bedroom Linen
- Bathroom Linen
- Carpets and Floor Coverings
- Kitchen Linen
- Curtains and Drapes
Global Home Textile Market, By Material
- Polyester
- Cotton
- Silk
Global Home Textile Market, By Distribution Channel
- Online
- Offline
Global Home Textile Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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