NEW
YORK, Oct. 1, 2024 /PRNewswire/ -- Report with
market evolution powered by AI- The global home textile retail
market size is estimated to grow by USD 67.6
billion from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of 6.35% during the
forecast period. Innovation and portfolio extension leading to
premiumization is driving market growth, with a trend
towards distribution channel expansion strategy by vendors.
However, volatility of raw material prices poses a
challenge. Key market players include Amazon.com Inc., Ashley
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
, Steinhoff International Holdings NV, Home Depot Inc., The
Novogratz, The TJX Companies Inc., Trident Ltd., Walmart Inc.,
Wayfair Inc., and Welspun India Ltd..
Key insights into market evolution with
AI-powered analysis. Explore trends, segmentation, and growth
drivers- View the snapshot of this report
Home Textile Retail
Market Scope
|
Report
Coverage
|
Details
|
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 2022-2023
(%)
|
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
|
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 Driver
Home textile vendors are expanding their distribution channels
to reach a larger customer base. The omnichannel strategy, which
involves selling products through both physical retailers and
online platforms, is increasingly popular. Notable e-commerce
retailers in this sector include Amazon.com, Rakuten Commerce, and
Alibaba Group. The global B2C e-commerce industry is projected to
expand substantially during the forecast period, with the online
and direct marketing market reaching 1.5 trillion in 2021. Other
significant players in the home textile market, such as Inter IKEA
Systems, Williams-Sonoma, Home Depot Product Authority, and Crate
and Barrel, also sell their products online. This multi-channel
approach will significantly boost the revenue growth of the global
home textile retail market.
The home textile retail market is experiencing significant
growth due to trends in the tourism and hospitality industries.
Demand for high-quality bed linens, mattress covers, blankets, and
pillows in hotels and serviced apartments is driving sales. Home
fashion is a key focus for retailers targeting residential spaces,
with a shift towards organic bed linen, sustainable products, and
natural fibers like cotton. The millennial age group prefers
functional and decorative household textiles, while eco-friendly
and synthetic fibers cater to various consumer preferences.
Household textile sales are also boosted by single person
households, DIY activities, and residential construction. Weaving,
knitting, crocheting, and knotting techniques are used to create
insulation products and bed coverings. The e-commerce sector is a
major channel for home furnishing sales, with eco-friendly and
blend fibers gaining popularity. Overall, the market is diverse,
catering to various consumer needs and trends in the domestic
environment.
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Market Challenges
- The home textile retail market is currently experiencing
challenges due to rising raw material costs. Manufacturers face
increased production expenses as a result of higher-priced raw
materials like cotton and silk. Consequently, vendors pass these
costs onto consumers by selling home textile products at elevated
prices. However, these increased prices limit consumer purchases.
Furthermore, raw material price fluctuations, caused by unusual
weather conditions and other factors, add instability to the
market. For instance, leather, used in furniture upholstery for its
aesthetic appeal, is subject to these price fluctuations. These
factors may negatively impact market growth during the forecast
period.
- The Home Textile Retail Market faces several challenges in
various sectors. In the luxury textile market, consumers seek
luxurious textures and classic color palettes, driving up costs for
retailers. Vintage aesthetics are popular in the bedroom linen
market, making traditional blankets with soft twist yarns and
higher twist yarns in wool, acrylic, polyester, nylon-based blends,
and thermal blankets a must-have. Transportation hubs like malls,
airports, movie theatres, hospitals, and smart homes are
significant markets for home textiles. Sustainability is a growing
concern, with recycled cotton scraps, lyocell fibers, and recycled
materials gaining popularity. Third-party sellers, importers, and
exporters add complexity to the market, while organized retail and
foreign brands compete with specialty stores. Housing, hospitality,
healthcare, and exports are major sectors driving demand for home
textiles, including curtains, blinds, shades, soundproof curtains,
and blackout curtains.
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Segment Overview
This home textile retail market report extensively covers market
segmentation by
- Distribution Channel
- Product
- 2.1 BBO
- 2.2 Bed linen
- 2.3 Carpets and rugs
- 2.4 Upholstery
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Offline- The home textile retail market
encompasses various product categories, including bath linen,
kitchen linen, kitchen accessories, bed linen and bedspreads, and
curtains. These items are primarily sold through offline
distribution channels, such as specialty stores, hypermarkets,
department stores, convenience stores, supermarkets, and warehouse
clubs. Consumers prefer this distribution channel due to its
reliability, physical product evidence, and the ability to touch
and feel the products before purchasing. Offline retail formats
accounted for a substantial portion of the global home textile
retail market revenue in 2023 and are expected to maintain their
dominance during the forecast period. Personalization trends in
home textile products are driving demand, making these retail
formats essential for the industry's growth.
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are reshaping competitive dynamics
Research Analysis
The Home Textile Industry caters to the modern homeowner's needs
for designs that reflect international taste and enhance interior
design. Home textiles include bed linens, bath linens, kitchen
linens, upholstery, and floor coverings. These essentials are not
just functional but also play a significant role in house
decoration and housing. The real estate industry recognizes the
importance of home textiles in creating a comfortable and inviting
living space. Affluent consumers, especially the millennial age
group, are increasingly seeking eco-friendly and sustainable home
textile products. The Home Textile Industry is evolving with the
times, offering a blend of fibers, including synthetic and natural
ones, to cater to various preferences. Weaving, knitting, and
crocheting techniques are used to create unique textures and
patterns. Specialty stores and organized retail outlets stock both
foreign brands and locally produced home textiles. The rise of
e-commerce platforms has made it easier for consumers to access a
wide range of home textiles from the comfort of their homes. The
Home Textile Industry continues to innovate, offering a diverse
range of products that cater to the ever-changing needs of modern
homes.
Market Research Overview
The Home Textile Industry encompasses a wide range of products
designed for modern homes, including furnishing fabrics, bed linen,
bath linen, kitchen linen, upholstery, and floor coverings. These
textiles are essential for interior design and house decoration,
catering to the tastes of affluent consumers and the real estate
industry. Modern homes often feature timeless patterns, luxurious
textures, and classic color palettes, as well as vintage aesthetics
and international tastes. Home textiles include a variety of
materials such as cotton, wool, acrylic, polyester, nylon-based
blends, and recycled materials like cotton scraps and lyocell
fibers. The market includes specialty stores, organized retail,
importers, exporters, and third-party sellers. Home textiles are
used in various sectors like housing, hospitality, healthcare,
exports, tourism industry, and hospitality industry. They are also
found in transportation, malls, airports, movie theatres,
hospitals, smart homes, and tourist destinations. Home textiles
include products like bed linen, blankets, mattresses, mattress
covers, pillows, duvets, duvet covers, and bed coverings.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- BBO
- Bed Linen
- Carpets And Rugs
- Upholstery
- Others
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio