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The home textile retail market size is estimated to grow by USD 61.08 billion at a CAGR of 6.1% between 2022 and 2027. The growth of the market depends on several factors such as the innovation and portfolio extension leading to premiumization, the increased consumer spending on home renovation and household furnishing, and the growing construction industry globally. The market is thriving, driven by the rapid growth of the global construction industry. With the real estate sector flourishing, there's a heightened demand for luxurious and premium home textile offerings. From affluent individuals to those in mid and economy segments, there's a desire for furnishing fabrics, curtains, and bedroom linens to elevate interior décor. Through acquisitions and brand introductions, the market caters to a wide range of consumers, offering products that emphasize functionality, safety, and cleanliness.
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The offline segment is estimated to witness significant growth during the forecast period. These products such as bath linen, kitchen linen, kitchen accessories, bed linen and bedspreads, and curtains, are sold through the offline distribution channel, which includes retail formats such as specialty stores, hypermarkets, department stores, convenience stores, supermarkets, and warehouse clubs. The different types of products are offered in a variety of sizes, styles, designs, colors, and brands.
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The offline segment was the largest segment and was valued at USD 133.61 billion in 2017. During the forecast period, consumer preferences worldwide for buying these products will remain high for the offline distribution channel, owing to its reliability, physical evidence of products, and touch-and-feel product demonstration factor. Moreover, in developed and emerging markets, there is still an increased preference for physical retail stores as a higher degree of reliability.
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North America is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is APAC. The growing penetration of superior quality products in the emerging markets of APAC is providing immense potential for international brands to penetrate emerging economies such as India and China. The biggest market in this area is China, followed by Japan and India. All three markets cover a significant share of the market in the APAC.
China is famous for exporting home textile products to developed markets such as the US and European Union countries. Some of the driving factors for the market in the country include rising urbanization, improving household disposable income, growing Internet and smartphone penetration, and rising fashion sensitivity towards home decoration. The other leading countries in APAC include Japan and India. International players emphasize the increased penetration of these countries, implementing competitive strategies aimed at achieving greater market shares and increasing revenues. India is one of the top countries that export these products to the US and EU countries. The country accounts for a significant share of the global exports of these products.
The market is witnessing dynamic growth, catering to diverse consumer segments and evolving preferences in interior design and house decoration. Vintage high-end home textiles, including bedroom linen, blinds, and shades, are in high demand among affluent consumers seeking luxurious furnishing fabrics. Additionally, mid and economy-segment consumers prioritize functionality, safety, and hygiene in home textiles, driving market expansion. Manufacturers focus on product innovation and compliance with regulatory standards, including international trade regulations, to meet end-users' diverse needs. Traditional blankets and curtains remain popular choices, while smart home integration enhances the appeal of polyester and cotton-based textiles. Both offline and online sales channels, including third-party sellers, contribute to the market's growth, facilitated by efficient supply chain management. Amidst brand launches and acquisitions, the Home Textile Retail Market continues to thrive, offering a blend of luxury and functionality to consumers worldwide.
The market is experiencing robust growth, propelled by the expanding global construction industry. As the real estate sector continues to thrive, there is a corresponding increase in demand for luxury and high-quality home textile products. Affluent consumers, as well as mid and economy-segment consumers, seek furnishing fabrics, curtains, and bedroom linen to enhance their house decoration and interior design. The market benefits from acquisitions and brand launches, catering to diverse end-users with products that prioritize functionality, safety, and hygiene. Both offline and online sales channels play a crucial role in meeting consumer demand, facilitated by third-party sellers and streamlined supply chains. With regulatory standards ensuring product quality and international trade regulations facilitating market expansion, the Home Textile Retail Market is poised for sustained growth amidst the burgeoning construction industry.
The personalization and customization of home textile products is a key trend in the textile retail market. In the global market, the new trends that attract a great deal of customers around the world are personalization and customization. companies have spotted this emerging trend in the market as consumers are increasingly interested in purchasing unique products as a part of their home decor.
Moreover, personalized products have also emerged as ideal gifting options, which has increased the sales of these products. These personalized, custom home textiles allow consumers to feel that they are unique in their house decoration and represent a new status symbol. The availability of a broad range of personalized and customized products will drive the global market significantly during the forecast period.
The rise in demand for floor coverings and other home furnishing products is a major challenge in the market. The demand will be restricted by the availability of a large variety of floor finishes and other home furnishing products in this category. Players selling floor coverings are increasingly entering new markets and providing different flooring products and designs.
Similarly, the presence of other home furnishing products, such as home furniture, limits the growth of the market. As consumer spending continues to rise, the demand for high-quality floor coverings and home furniture which are available in a range of different designs, patterns, materials, and prices is increasing. The growing demand will pose a challenge to the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes critical purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amazon.com Inc. - The company offers products under the brand name Solimo such as Solimo Natural Bounty 144 TC 100 percent Cotton Double Bedsheet with Two Pillow Covers.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, robust, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
The market is witnessing significant growth, driven by various factors such as the increasing demand for furnishing fabrics, safety, and hygiene standards among consumers worldwide. Product manufacturers are expanding their market presence, catering to both affluent and mid-economy segment consumers with a diverse range of products, including vintage high-end home textiles and luxury fabrics. Regulatory standards and international trade regulations play a crucial role in shaping the industry landscape, ensuring product quality and safety. Online sales channels and third-party sellers are gaining traction, providing convenience to end-users and facilitating supply chain efficiency. Moreover, the market encompasses a wide array of products, from bedroom linen and traditional blankets to digitally printed home textiles and kitchenware, reflecting diverse customer preferences in home décor and furnishing products. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Moreover, the market is witnessing substantial growth, driven by factors such as market expansion, increasing demand from affluent consumers, and the rising popularity of smart homes. Affluent consumers are driving demand for vintage high-end home textiles and luxury fabric markets, while mid and economy-segment consumers are seeking functionality and affordability in products like polyester-based and cotton-based home textiles. Brand launches and product substitutes are reshaping the market landscape, offering a diverse range of options to meet customer preferences. The market encompasses a wide array of products, including bedroom linen, blinds, shades, and soundproof curtains, catering to various living spaces, from single-person households to hotels, resorts, and restaurants. With a focus on comfort and aesthetics, the Home Textile Retail Market continues to thrive, fueled by consumer expenditure and the need for quality household linen products in both residential and commercial sectors.
Moreover, the market is thriving globally, driven by various factors such as interior design trends, the demand for vintage high-end home textiles, and the luxury fabric market. Consumers are increasingly investing in bedroom linen, blinds, shades, and soundproof curtains to enhance their living spaces. Polyester-based home textiles are gaining popularity, especially in the commercial sector, including hotels and resorts. Offline sales remain significant, catering to customer preferences for home décor products like bed textiles, comforters, and table linens. As personal expenditure increases and new buildings emerge, there's a growing demand for replacement products and home furnishings. Cotton blends with linen, organza, and poly-tissue fabrics are favored choices, reflecting the evolving tastes and preferences of consumers in the global home textile market.
Home Textile Retail Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.1% |
Market growth 2023-2027 |
USD 61.08 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.65 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 30% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amazon.com Inc., Ashley Global Retail LLC, Bed Bath and Beyond Inc., Industria de Diseno Textil SA, Inter IKEA Holding BV, Kohls Corp., Kroger Co., Macy's Inc., Lowes Co. Inc., Ralph Lauren Corp., Restoration Hardware Inc., Springs Global, Steinhoff International Holdings NV, The Home Depot Inc., The Novogratz, The TJX Companies Inc., Trident Ltd., Walmart Inc., Wayfair Inc., and Welspun India Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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