Global Home Textile Market Value expected to Propel to US $145.05 billion by 2026 | Key Players, Covid-19 Impact Analysis

The global home textile market was valued at US$111.38 billion in 2021 and is expected to propel to US$145.05 billion by 2026. Home textiles include bedding, bath linen, kitchen and table accessories, carpets and rugs, and other items used as interior decoration. Home textiles, also known as textile home furnishing fabrics, are made up of both natural and man-made fabrics.

Demand for home textiles has mostly peaked in developed economies. However, in emerging markets, demand growth is expected to be increase at a significant rate as disposable income growth facilitates a shift to more luxury spend. The home textile market is projected to expand at a CAGR of 5.53% over the forecast period of 2022-2026.

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Market Segmentation Analysis:

By Category: The report consists the bifurcation of the home textile market into four segments based on category: Bed Linen, Bath Linen, Carpet and Rugs, and Others. In 2021, the Bed Linen segment lead the home textile market, covering approximately 46% share of the market. The Bed Linen industry is expected to experience high growth, owing to the rising demand for luxury and designer bed linen with multiple functional benefits, which would drive market value gain. Also, the same segment has the highest CAGR of approximately 6% and is expected to grow exponentially as there would be a growing willingness to invest in products that provide more relaxing and rejuvenating sleeping and bathing experiences.

By Distribution Channel: The report provides the bifurcation of the home textile market into two segments based on distribution channel: Retail Outlets and online. In 2021, the Retail Outlets home textile segment lead the home textile market, occupying more than half of the market. The retail oulets home textile industry is expected to experience high growth, owing to the better selling experience of the manufacturing industry and catering to the needs of the customers, which has resulted in the significant growth of home textiles in retail outlets industry.

By Region: In the report, the global home textiles market is divided into four regions: Asia Pacific, North America, Europe and Rest of the world. Asia Pacific dominated the market in 2021 with almost 37% share of the global home textile market. Asia Pacific is anticipated to lead the global home textiles market during the forecast period, due to the availability of cheap labour, raw material, products, etc. Asian countries such as China, India, and Pakistan are some of the largest suppliers for the home textiles. Asia Pacific is further divided into four regions: China, India, Japan and Rest of Asia Pacific. The changing customer preferences and trends in the market related to the home textiles and cross culture expansion would boost the home textile products in Asia Pacific countries. The home textile market in the China is expected to hold a significant share, as it is world's largest textile industry in terms of both overall production and exports.

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Global Exhibition Market Dynamics:

Growth Drivers: One of the most important factors impacting home textiles market dynamics is the increase in consumer spending on home renovation and decoration. Rapid Urbanization is an important growth driver owing to the increase in the home textile products. Furthermore, the market has been growing over the past few years, due to factors such as increase in fabric demand of light weight products, improvement in standard of living, growing real estate sector, rise in E-commerce, etc.

Challenges: However, the market has been confronted with some challenges specifically, high cost of logistics and threat from Counterfeit products. In home textile market, many products such as Bedding Set, Kitchen Accessories, Bathroom Accessories, Table sets, Rugs and Matts, Curtains etc. of major manufacturing companies can be copied and presented to the customers. These counterfeit products are made of low-quality components, in an attempt to sell a cheap imitation of similar goods produced by brands consumers know and trust.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as use of eco-friendly home furnishing. Manufacturers have stopped using chemical dyes and are instead using natural fibres because their customers prefer natural products. In the future, these products will be popular and in high demand among customers. Furthermore, the market is expected to growth in the future due to increased demand for non woven fabric, innovations in home textile products, etc.

Impact Analysis of COVID-19 and Way Forward:

Due to the pandemic, many home textile manufacturing companies have suffered losses and even shutdown. Major impact was seen on the supply chain of home textile market as lockdown lead to decline in exports and imports of home textile products. While in 2021, the home textile market rebounded because of the online trend in the market and the company's manufacturing innovative products for the changing needs of their customers.

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Competitive Landscape:

The global home textile market is highly fragmented and has many local operators. The key players of the global exhibition market are:

Welspun India Ltd
Springs Global
Shenzhen Fuanna Bedding and Furnishing Co
Ltd Trident Group
Ralph Lauren Corporation
American Textile Company , Inc.
Franco Manufacturing Co
Shanghai LUOLAI Home Textile Co. Ltd
Shanghai Shuixing Home Textile Co. Ltd
Sunvim Group Company

Because of the increasing demand for modern and well-furnished living spaces, all such market players are focusing on research and innovations for the production of advanced products. Scope of the Report:

The report titled “Global Home Textile Market: Analysis By Category, By Distribution Channel, By Region Size and Trends with Impact of COVID-19 and Forecast upto 2026”, includes :
-- An in-depth analysis of the global home textile market by value, by category, by distribution channel, by region, etc.
-- The regional analysis of the home textile market, including the following regions:

Asia Pacific (China, Japan, India, and the Rest of the Asia Pacific)
North America (The US and Canada)
Europe (UK, Germany, France, Russia, Italy and the Rest of Europe)
Rest of the World
-- Comprehensive information about emerging markets. This report analyses the market for various segments across geographies.
-- Provides an analysis of the COVID-19 impact on the global home textile market.
-- Assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall home textile market has also been forecasted for the period 2022-2026, taking into consideration the previous growth patterns, the growth drivers, and the current and future trends.
-- Evaluation of the potential role of home textile services to improve the market status.
-- Identification of new technological developments, R&D activities, and product launches occuring in the home textile market.
-- In-depth profiling of the key players, including the assessment of the business overview, market strategies, regional and business segments of the leading players in the market.
-- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
-- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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