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The home textile retail market size is forecast to increase by USD 67.6 billion at a CAGR of 6.35% between 2023 and 2028. The market is witnessing significant growth, driven by innovation and portfolio extension leading to premiumization. Companies are focusing on expanding their distribution channels to cater to a wider customer base. However, the volatility of raw material prices poses a challenge to market growth. Innovation and portfolio extension are key strategies adopted by market participants to offer premium products and cater to evolving consumer preferences. Companies are expanding their distribution channels to reach a larger customer base and increase market penetration. Despite these growth factors, the market faces challenges from the volatility of raw material prices, which can impact profitability and product pricing strategies.
Overall, the market is expected to grow steadily due to these trends and challenges.
The market is experiencing significant growth due to the increasing demand for modern homes that reflect international taste and style. Homeowners are investing in high-quality designs for interior decoration and house furnishing, leading to increased sales of home textiles such as bed linen, bath linen, kitchen linen, upholstery, and floor covering. The real estate industry's growth, particularly in the housing sector, is driving demand for home textiles, with the millennial age group being a key consumer demographic. The home textile industry caters to affluent consumers seeking eco-friendly products and innovative fibers like blend fibers and synthetic fibers.
Similarly, specialty stores and organized retail outlets, including foreign brands, dominate the market. E-commerce platforms have also emerged as significant sales channels for home textiles. The production process for home textiles involves various techniques like weaving, knitting, and crocheting, using various fibers and materials. The market is expected to continue its growth trajectory, with trends towards sustainable and technologically advanced home textiles gaining popularity. Overall, the home textile industry is a dynamic and evolving market that caters to the ever-changing needs and preferences of consumers.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. The Home Textile Industry encompasses a wide range of products including bed linen, bath linen, kitchen linen, upholstery, floor covering, and home décor. These items are sold through various offline distribution channels, with retail formats such as specialty stores, hypermarkets, department stores, convenience stores, supermarkets, and warehouse clubs accounting for a significant portion of the market revenue. Lyocell fibers and recycled materials are increasingly being used in home textile production, aligning with the growing trend towards sustainability. Third-party sellers, importers, and exporters also play a crucial role in the market, bringing in foreign brands and organic bed linen, sustainable products, and household textiles.
The market caters to various sectors including housing, hospitality, healthcare, and the tourism industry. Products such as mattresses, mattress covers, pillows, duvets, and duvet covers are essential in residential spaces, while hotels and serviced apartments rely on bed linens, bath linens, and other home fashion items to enhance the guest experience. The offline distribution channel's ability to offer a tactile shopping experience and personalized product offerings continues to drive demand in the market.
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The Offline segment accounted for USD 139.50 billion in 2018 and showed a gradual increase during the forecast period.
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.
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The Home Textile Industry encompasses a wide range of products, including bed linen, bath linen, kitchen linen, upholstery, and floor covering. Key trends in this industry include the use of eco-friendly materials such as Lyocell fibers and recycled materials. Third-party sellers, importers, and exporters play significant roles in the market, supplying both local and foreign brands to various sectors. The organized retail sector, including specialty stores, has gained prominence in recent years, offering a diverse range of household textiles. Housing, hospitality, healthcare, and the tourism industry are major consumers of home textiles. In the hospitality sector, hotels and serviced apartments rely on high-quality bed linens, mattresses, mattress covers, pillows, duvets, and duvet covers for guest comfort.
Moreover, retailers cater to residential spaces with organic bed linen, sustainable products, and home fashion, reflecting the growing demand for eco-conscious and stylish home décor. The exports sector also contributes significantly to the industry's growth, with major destinations being the USA, Europe, and the Middle East. Overall, the home textile industry continues to evolve, catering to various consumer needs and preferences.
Our researchers analyzed the data with 2023 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 innovation and portfolio extension leading to premiumization is the key driver of the market. The global market witnesses a significant demand for superior-quality, functional, and decorative products in the domestic environment. These innovative home textiles, made from natural fibers like cotton, wool, and jute, as well as man-made fibers such as polyester, nylon, and rayon, cater to various needs. The millennial age group, in particular, shows a preference for eco-friendly and synthetic fiber-blend products for household decor. Innovative home textile sales are driven by unique designs, styles, and insulation properties. Home textiles serve diverse purposes, including warmth, comfort, insulation, and style statement.
Furthermore, e-commerce platforms have revolutionized the home textile retail sector, enabling online retailing of a wide range of products, including weaving, knitting, crocheting, and knotting. Single person households, nuclear families, and childless households increasingly opt for home textiles that cater to their specific needs. Residential construction activities also contribute to the demand for home textiles. With the rise of DIY activities and the increasing popularity of smartphones, consumers can easily access and purchase home textiles online. Vendors differentiate themselves by offering a blend of functionality, style, and affordability, catering to the evolving needs of consumers in the market.
The distribution channel expansion strategy by companies is the upcoming trend in the market. The market caters to the demands of the domestic environment by offering a wide range of functional and decorative products. Vendors are expanding their distribution channels to reach a larger customer base, with the omnichannel strategy gaining popularity. This approach allows vendors to sell home textile products through both physical retailers and e-commerce platforms. Some of the leading e-commerce retailers in this sector include Amazon.Com, Rakuten Commerce, and Alibaba Group. The global B2C e-commerce industry is projected to experience substantial growth during the forecast period. Home textile sales are not limited to household decor but also include insulation products, made from natural fibers like cotton, wool, and man-made fibers such as polyester and synthetic blends.
Furthermore, the millennial age group, single person households, nuclear families, and childless households are key consumers of home textile products. DIY activities and residential construction activities also contribute to the market's growth. Home textile products are not only essential for insulation and comfort but also serve as a style statement. Eco-friendly and smart home textile products are emerging trends in the market. The e-commerce sector's growth, driven by the increasing use of smartphones and online retailing, is further fueling the demand for home textile products. Weaving, knitting, crocheting, and knotting are traditional techniques used to create home textile products, adding to their unique appeal.
The volatility of raw material prices is a key challenge affecting the market growth. The market is witnessing various trends and challenges due to the rising costs of raw materials and fluctuating prices. The use of superior quality natural fibers like cotton and silk in home textile sales has led to increased manufacturing costs for vendors. Consequently, they sell functional and decorative products at higher prices in the domestic environment to recover these costs. However, this price sensitivity restricts purchases by the millennial age group and other household demographics, including single person households, nuclear families, and childless households. Moreover, the eco-friendly trend is driving the demand for natural fibers, while synthetic fibers continue to be popular due to their affordability and ease of use in home furnishing.
Furthermore, companies are exploring blend fibers and innovative weaving, knitting, crocheting, and knotting techniques to cater to diverse consumer preferences. Insulation products and e commerce platforms are also gaining traction in the market. The unusual weather conditions and residential construction activities further impact the raw material prices, leading to volatility in home textile sales. The e commerce sector, including smartphones and online retailing, is transforming the market dynamics, offering consumers a wider range of choices and convenience. Overall, the home textile market is a blend of style statements, functional products, and eco-friendly options, catering to various household demographics and consumer preferences.
The market forecasting 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 also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
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 such as Solimo Natural Bounty 144 TC 100 percent Cotton Double Bedsheet with Two Pillow Covers.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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, strong, tentative, and weak.
Home textiles, including furnishing fabrics for modern homes, have gained significant popularity among homeowners seeking to enhance their interior design and house decoration. Modern homes with minimalist designs and international taste call for high-quality home textiles that complement wall colors and modern furniture. The real estate industry recognizes the importance of home textiles in creating a luxurious living experience, with affluent consumers demanding timeless patterns, luxurious textures, and classic color palettes. The market for home textiles encompasses a wide range of products, from vintage aesthetics to smart homes. Furnishing fabrics made from soft twist yarns, higher twist yarns, wool, acrylic, polyester, nylon-based blends, and recycled cotton scraps cater to various preferences and budgets.
Furthermore, bedroom linen markets offer a vast selection of thermal blankets, traditional blankets, and curtains, while blinds, shades, soundproof curtains, and blackout curtains cater to functional needs. Home textiles are used in various sectors, including transportation, malls, airports, movie theatres, hospitals, and smart homes. The luxury fabric market continues to grow, driven by the increasing demand for high-end home textiles and the availability of innovative designs and materials. The use of home textiles in creating a comfortable and stylish living environment is a trend that is here to stay.
Market Scope |
|
Report Coverage |
Details |
Page number |
186 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.35% |
Market growth 2024-2028 |
USD 67.6 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.87 |
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 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 Inc, Kroger Co., Lowes Co. Inc., Macys Inc., Ralph Lauren Corp., Restoration Hardware Inc., Springs Global, Steinhoff International Holdings NV, 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 growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market 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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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