The global home textiles market size is expected to reach at USD 133.4 billion by 2025 registering a CAGR of 5.01%, according to a new report by Grand View Research, Inc. High demand for home textiles due to increasing disposable income and improved living standards is driving the global market. In addition, rapidly expanding real estate market is expected to boost the market growth from 2019 to 2025.
Adoption of western culture in developing regions of Asia Pacific is also expected to propel market growth. Moreover, rising awareness about the benefits and comfort of these stylish home textiles will also contribute to the market development. The retail outlets distribution channel segment led the global market in 2018; whereas, the online segment is projected to witness the fastest CAGR of 4.31% over the forecast period.
Shopwelsun.in and Alibaba are some of the major online portals for home textiles. Bedroom linen product segment held the highest market share in 2018. This segment includes curtains, bed spreads, cushion and cushion covers, and others. On the other hand, the demand for bathroom linen is projected to witness a CAGR of 5.02% from 2019 to 2025. Changing home décor trends, frequent room makeovers, and short replacement cycles are the key factors responsible for the segment growth.
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Further key findings from the study suggest:
In terms of revenue, bathroom linen is expected to register a CAGR of 5.02% from 2019 to 2025 followed by carpet and floor coverings at a CAGR of 4.99%
Bedroom linen led the global market in 2018 and is projected to expand further at a healthy CAGR from 2019 to 2025
North America dominated the home textiles market in 2018 and is projected to continue dominance over the next few years
Growing demand from the Asia Pacific region on account of increased awareness and changing taste and preference for home decor
The market is highly competitive with the strong presence of top companies including Welspun Group, Springs Global, New Sega Home textiles, and Ralph Lauren Corporation
Most of the manufacturers focus on new product development and capacity expansion to estimate the existing and future demand patterns