Market Research Future (MRFR) has published a cooked research report on the “Global Home Textile Market” that contains information from 2018 to 2032. The home textile market is estimated to register a CAGR of 5.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global home textile market — Welspun India Ltd, WestPoint Home, Boll & Branch, Cotton Incorporated, John Lewis & Paterns, Pottery Barn, Ikea, The Company Store, Parachute Home, Jaipur Rugs, Laura Ashley, Ralph Lauren Home, Target, Williams-Sonoma, Peacock Alley.
The global home textile market is accounted to register a CAGR of 5.90% during the forecast period and is estimated to reach USD 198.5 billion by 2032.
The rapid urbanization and more people opting for single-person living arrangements, there is growing demand for interior décor and furnishings to make these spaces comfortable and inviting. The growing trend towards smaller living spaces also calls for innovative and space-saving textile solutions. The evolving landscape of housing preferences and desire for personalized, stylish and sustainable living environments are driving the market growth. Additionally, as sustainability becomes a more concern, consumers are looking for eco-friendly and durable textile options, further propelling the market for home textiles.
The global home textile market has been segmented based on product, distribution channel and material.
On the basis of product, the market is segmented into Bedroom Linen, Bathroom Linen, Carpets and Floor Coverings and Kitchen Linen. The bedroom linen segment was attributed to holding the largest market share in 2022, as people are growingly interested in decorating their bedrooms with modern and comfortable bed linen.
Based on distribution channel, the global home textile market has been segmented into Offline and Online. The offline segment was expected to hold the largest market share in 2022 due to the increasing urbanization and spread of hypermarkets.
On the basis of material, the market is segmented into Polyester, Cotton, Silk, Wool and Others. The polyester segment was attributed to holding the largest market share in 2022, owing to the its durability and long-lasting property.
The global home textile market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe home textile market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The home textile market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World home textile market comprises of Middle East, Africa, and Latin America.
The largest market share for home textile was maintained by the North American regional sector. This region has a large and affluent consumer base with a high demand for home textiles. People in North America tend to invest in their homes, valuing interior design and comfort, driving the production and sale of home textiles in this region. The North American region market is known for its innovation and design in the home textile industry. The region boasts a well-developed retail infrastructure, including department stores, and e-commerce platform. The region persists relatively a strong and stable economy, which allows consumers to invest in home improvement and interior décor, including home textiles.
Moreover, the Europe market has been persistently growing over the forecast period. The demand for home textile is driven by rising environmental consciousness and the establishment of strict environmental legislation. The growth of e-commerce is reshaping the home textiles market in Europe. The customization and personalization are becoming more popular and the region has strong tourism and hospitality driving the demand for home textiles.
Additionally, the rapid urbanization, leading to increased demand for home textiles, as people in Asia Pacific region moved into urban areas and built or renovated their homes, the need for interior furnishings and décor. The presence of different culture and traditions across the region influenced home textile preferences. Additionally, during the pandemic, there was increased demand for certain home textile products, like bedding and home office furnishings, as people spent more time at home.
Furthermore, the rest of the world's home textile market is divided into the Middle East, Africa, and Latin America, as the region is considered to be emerging market, has a rising urbanization and strong tradition of local artisans and craftsmanship. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study