Industry Insights
North America was the largest regional market in 2018 and is expected to maintain the dominance over the forecast period. Countries, such as U.S., U.K., Germany, India, and China, witnessed an increased demand for home textiles due to rise in disposable income and rapid urbanization. In U.S., average expenditure on household textile was USD 115 in 2017. Moreover, increased number of retail outlets and online portals are contributing to the market growth.
Major market participants are investing more into R&D to fulfill the changing consumer demands and increase their product portfolio. Innovations, such as wood curtains and dyed fiber for UV protection, are also driving the global market. Key companies in this market include Welspun Group, Springs Global, New Sega Home Textiles, Ralph Lauren Corporation, Shenzhen Fuanna, Trident Group, Marvic Textiles, Shanghai Hometex, Honsun Home Textile Co. Ltd., and Hunan Mendale Hometextile Company Ltd.
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Product Insights
The bathroom linen segment is expected to register the fastest CAGR of 5.02% over forecast period. Constant innovations in this segment is expected to boost the demand for bathroom linen products. For instance, Welspun India has invested in special kind of material used in manufacturing of towels so that it could regulate temperature of the product and make it softer after each use.
Distribution Channel Insights
Retail outlets was the leading distribution channel in 2018 and accounted for 65.43% of the overall share. In retail outlets, consumers can examine the product before buying, which significantly influences consumer decision. Moreover, these outlets provide assistance of store associates to help choose the right product. These factors supported the segment growth.
Regional Insights
North America contributed to the largest market share of about 43.15% in 2018. Countries, such as U.S., drive the regional market due to increased demand for home textiles as a result of high standards of living and purchasing power. Moreover, growing number of sellers and manufacturers in this region has led to an increased variety and easy availability of luxury home textile products.
Thus, constant innovations in the field will boost the regional growth further. For instance, New Saga Home Textile, came up with bed-in-a-bag concept. Asia Pacific is one of the largest exporters of these products and is also projected to be the fastest-growing market due to rising consumer disposable income levels and growth in real estate sector in the region.
Report Scope
Attribute & Details
Base year for estimation
2018
Actual estimates/Historical data
2015 - 2017
Forecast period
2019 - 2025
Market representation
Revenue in USD Billion and CAGR from 2019 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Country scope
U.S., U.K., Germany, China, and India
Report coverage
Revenue forecast, company share, competitive landscape, growth factors and trends
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