Home Textile Products Market: Introduction
Transparency Market Research delivers key insights on the global home textile products market. In terms of revenue, the global home textile products market is estimated to expand at a growth rate of ~5% during the forecasted timeline, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global home textile products market report.
In the report, TMR predicts that the global home textile products market would be largely driven by factors such as improving standard of living and rising number of single person households. Moreover, rising investment in the home textile products market by renowned retailers is expected to boost the demand for home textile products in the coming years.
According to the home textile products market research report, in terms of product, the market has been divided into window coverings (curtains, blinds [roller blinds, venetian blinds, and others], sun filters, and drapes), upholstery fabric, bed linen (bed sheets, bed spreads, pillows & pillow covers, and others), table linen (runners, table skirting, table mats, and others), bathroom linen (bath towels, bath mats, face towels, and others), and others.
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Based on product, bed linen is expected to remain dominant in the global home textile products market. This is due to rapid growth in the residential and commercial sector across the globe. In addition, rise in disposable income of users and increasing spending on improving interior space is likely to enhance the sales of home textile products, especially bed linen. Rapid growth in demand for bathroom linen products such as bath towels, mats, hand towels, bathrobes, etc. is likely to propel the growth of the home textile products market. Continuous growth in demand for window covering, upholstery fabrics, table linen, wall covering, etc. is also one of the major factors driving the growth of the home textile products market across the globe.
In terms of material, the global home textile products market has been classified into natural, synthetic, and blended. The natural segment is estimated to be the most lucrative. This is due to increasing awareness and usage of natural fibers made of plant and animal based sources such as cotton, jute, silk, wool, down, and feathers, thus driving demand for home textile products made of natural material. Natural fiber with its hypo-allergic and breathability property is found to be attractive all over the globe. Synthetic material with its lightweight, durable, ultra-sheering, and long-lasting property is likely to remain attractive among manufacturers of home textile products.
Home Textile Products Market: Drivers, Opportunities, and Restraints
Transforming living standards of the masses coupled with rise in number of people opting for separate living is a driving force of the home textile products market. Moreover, various brands have recognized the potential of home textile products and are investing extensively in promoting and expanding their reach to an increasing audience.
Domestic e-Commerce retailers such as Amazon, Walmart, Ikea, and Snapdeal have grown massively in the past five years and are expanding at about 19% annually. These e-Commerce platforms not only offer a common and easy to access market place, but have introduced their private labels for home textile products. These private labels offer economical curtains, bed linen, table linen, and blankets, which has helped to expand the domestic market worldwide.
However, the market evolution has been limited by a few factors. The global home textile products market is projected to face significant challenges from the high cost of logistics. Key manufacturers of home textile products are based in emerging countries that have weak logistic chains and infrastructure, which is anticipated to be the foremost factor limiting market growth. Such countries face scarcity of high-quality raw materials that are important to make quality products of international standards. Furthermore, the long product replacement cycle of these products is projected to restrain the growth of the market.
Home Textile Products Market: Prominent Regions
Asia Pacific is the largest market accounting for highest share of the total revenue. The market in China is highly lucrative due to better economic conditions and increasing disposable income. Rise in demand for bed linen and bathroom linen, which remain the most preferred type among Chinese consumers is further likely to fuel the market. Europe was the second largest market in the global home textile products industry in 2018. It generates around 20% to 30% of the total home textile products revenue globally. Strong product innovation among manufacturers with new designs in home textile products are expected to boost the market during the forecast period. In addition, penetration of creative products across the globe is found to be attractive among users, which is influencing the overall growth of the home textile products market.
Home Textile Products Market: Key Players
Some of the key players operating in the home textile products market are Arvind Limited, Beyond Textiles Pvt. Ltd., Dicitex, Evezary Co., Ltd., Franco Manufacturing Company, Inc., GHCL Limited, Grasim, Loftex China, LTD., Luolai Home Textile Products, Mehera Shaw, Trident Group, and Welspun Group.
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