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The home textile retail market size is estimated to grow at a CAGR of 6.1% between 2023 and 2027. The market size is forecast to increase by USD 61.08 billion. 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.
This home textile retail market report extensively covers market segmentation by distribution channel (offline and online), product (BBO, bed linen, carpets and rugs, upholstery, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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.
The growing construction industry globally is driving growth in the home textile retail market. Demand for home textile products could increase among customers worldwide as the global real estate industry continues to grow. The demand for luxury and superior-quality home textile products is expected to grow significantly in residential establishments.
Therefore, the growing housing construction industry will drive the demand for home textile products. Even in the aftermath of the Euro Crisis, there was a marked increase in housing markets in emerging economies. The increase in the demand for residential housing worldwide will further fuel the demand for home textiles during the forecast period.
The personalization and customization of home textile products is a key trend in the textile retail market. In the global home textile retail market, the new trends that attract a great deal of customers around the world are personalization and customization. Vendors have spotted this emerging trend in the market as consumers are increasingly interested in purchasing unique home textile products as a part of their home decor.
Moreover, personalized home textile products have also emerged as ideal gifting options, which has increased the sales of such home textile 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 home textile retail market significantly during the forecast period.
The rise in demand for floor coverings and other home furnishing products is a major challenge in the home textile retail market. The demand for home textiles 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 home textile retail 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 for home furniture and floor coverings will pose a challenge to the global home textile retail 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 Home Textile Retail 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 home textile 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 offline segment is estimated to witness significant growth during the forecast period. Home textile 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 home textiles 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 home textile 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 vendors is APAC. The growing penetration of superior quality home textile 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 home textile retail 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 home textile retail 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 home textile products to the US and EU countries. The country accounts for a significant share of the global exports of home textile products.
In 2020, the outbreak of COVID-19 led to the imposition of lockdowns by several countries, which severely impacted the logistics and supply chain operations in the region. However, the scenario has recovered at the end of 2021, owing to the initiation of large-scale vaccination drives and the resumption of operations in manufacturing units to full capacity. Also, people will be encouraged to focus on the interior decoration of their homes as a result of an increase in disposable income, which, in turn, will propel the sales of home textiles during the forecast period. Such factors are expected to drive the growth of the regional market during the forecast period.
The home textile retail market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027.
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Home Textile Retail Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.1% |
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Market growth 2023-2027 |
USD 61.08 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
5.65 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 30% |
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Key countries |
US, China, India, Germany, and the UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, 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. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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