Home Textile Products Market Segmented: By Product Type (Bedroom Linen, Bathroom Linen, Carpets and Floor Covering and Others); By Distribution Channel (Online and Offline); and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Home Textile Products Market to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of 4.9% in the coming years, i.e., 2021-30.
Fabrics used for home furnishing and decoration are known as home textiles. The home textile market contains a wide range of decorative and practical items for home decoration. Fabrics from both natural and artificial sources may be used to create home textiles. However, both of them are often combined to make a stronger fabric. In the global market, this industry has experienced consistent growth. The demand for home textile goods is evolving as a result of advances in 3D cotton textiles. To produce new products, manufacturers are increasing research into human psychology, material properties, and environmental effects. Companies are creating new fabrics, such as the "hollow cotton yarn," by combining cotton with polymer since wool offers excellent thermal insulation. Hollow cotton yarn's fluffiness, softness, and superior insulation properties are thus widely publicized in the market for home textile products. Consumers changing lifestyles, as well as their desire to decorate and furnish their homes according to the latest fashion trends, have resulted in high demand for home textiles around the world.
Global Home Textile Products Market is expected to project a notable CAGR of 4.9% in 2030.
Global Home Textile Products Market to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of 4.9% in the coming years, i.e., 2021-30. This growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Home Textile Products. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Home Textile Products industry.
Bedroom linen segment to grow with the highest CAGR during 2020-30
Global Home Textile Products Market is segmented by product type into bedroom linen, bathroom linen, carpets, floor covering, and others. The bedroom linen segment held the largest market share in the year 2020. The most popular items were bedspreads, blankets, cushions, and mattress covers, which helped the segment, retain its market supremacy. Mattresses with enhanced comfort, as well as curtains and bedspreads with unique designs, are the subject of major companies. The demand for bathroom linen items is expected to increase as this segment continues to innovate.
An online segment to grow with the highest CAGR during 2020-30
Global Home Textile Products Market is segmented by distribution channel into online and offline. Over the forecast period, the online distribution channel is projected to expand at the fastest pace. Sales via this channel have been powered by the increasing popularity of e-commerce platforms among manufacturers and high internet penetration.
Growing Intention for Home Renovation and Rapid Urbanization
Some of the major factors expected to drive the growth of the global market include growing intention to upgrade the interior of homes, as well as a demand for decorative and durable home textile items. Furthermore, the rapidly expanding global real estate sector is another factor expected to boost the growth of the market. Increasing consumer spending on home renovations, as well as the advent of e-commerce with a slew of shopping websites, are expected to push the target market forward. Rapid urbanization and industrialization in developing countries have resulted in a rise in the populace's disposable income as well as an improvement in their standard of living.
Changing Home Furnishing Patterns and Growth in End-Users
The global market is expected to be driven by growth in end-use sectors such as hospitality and residential, as well as increasing awareness about evolving home decor trends. In addition, changing home furnishing patterns are expected to fuel demand growth even further.
Availability of Counterfeit Goods
The availability of counterfeit goods in the local market is expected to be a significant stumbling block to global market expansion. Rising production costs for the market are hurting the global Home Textile Products industry.
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Global Home Textile Products Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
Global Home Textile Products in the Asia Pacific held the largest market share in the year 2020 in terms of revenue as a result of the growing export of textile products around the world. Furthermore, rapid urbanization, an improved standard of living, and increased purchasing power are some of the main factors expected to help the market's revenue growth in the region. Furthermore, as people become more interested in modernizing their homes' interiors, there is an increase in demand for home textiles such as bed sheets, pillows & covers, curtains, and other similar products. Surging per capita spending, the availability of potential buyers in the industry, growing investments by major regional players, improving consumer lifestyles, and other factors are driving the demand for home textile in the market.
Global Home Textile Products Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Home Textile Products Market Segments:
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