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Home Textile Market Analysis 2024-2033: Assessing Global Demand and Opportunities
Home Textile
The Business Research Company offers in-depth market insights through Home Textile Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The home textile market size has grown strongly in recent years. It will grow from $122.27 billion in 2023 to $130.92 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increasing patient admissions, focus on patient flow optimization, regulatory compliance requirements, integration with electronic health records (ehrs), rise in healthcare facility capacity.
The home textile market size is expected to see strong growth in the next few years. It will grow to $164.2 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to focus on patient-centric care, implementation of artificial intelligence (ai), real-time location systems (rtls) advancements, emphasis on infection control, population health management strategies. Major trends in the forecast period include advancements in healthcare technology, real-time location systems (rtls) integration, cloud-based solutions, patient flow optimization, mobile applications for bed requests.
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Market Segmentation:
The home textile market covered in this report is segmented -
1) By Product: Bedroom Linen, Bathroom Linen, Kitchen Linen, Carpets and floors Coverings
2) By Material: Polyester, Cotton, Silk, Wool, Other Materials
3) By Distribution channel: Offline, Online
4) By End-User: Residential, Commercial
Major Driver - Surge in Demand For Home Aesthetic Improvement Propels Growth In The Home Textile Market
The growing demand for home aesthetic improvement is expected to propel the growth of the home textile market going forward. Home aesthetic improvement refers to the process of enhancing the appearance of a home to make it more visually appealing and inviting. Home textiles are used in home aesthetic improvement projects to enhance the architectural features of the house by incorporating curtains, textured tablecloths, and cushions on sofas and armchairs for transforming spaces and shaping the overall vibe. For instance, in May 2023, according to a survey on 2,000 US homeowners by Slickdeals, a US-based deal-sharing community, around 69% of homeowners are embarrassed to have people at their houses because of the aesthetic choices, and 78% have planned for home improvement projects. Further, homeowners are planning to spend an average of $1753 on home improvement projects. Therefore, the growing demand for home aesthetic improvement is driving the growth of the home textile market.
Competitive Landscape:
Major companies operating in the home textile market report are Mohawk Industries Inc., Nitori Holdings Co. Ltd. , Ralph Lauren KBE, Leggett & Platt Inc., Williams-Sonoma Inc., John Lewis & Partners , American Signature Inc. , Mannington Mills Inc., Kimball International Inc., Laura Ashley Holdings Plc, Inter IKEA Systems B.V., American Textile Company, Hunan Mendale Hometextile Company Ltd., ShenZhen Fuanna Bedding and Furnishing Co. Ltd., Companhia de Tecidos Norte de Minas-Coteminas, WestPoint Home Inc., Parachute Home , Trident Ltd., Welspun India Ltd., Boll & Branch LLC, Springs Global Participacoes SA, Jaipur Rugs Company Pvt. Ltd., Cotton Incorporated , Peacock Alley Inc., Vescom B.V., Marvic Textiles Limited, New Sega Home Textiles Inc., Sheets & Giggles Inc., The Company Store , URBANARA GmbH
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