Home Textile Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Home Textile Market is segmented By Type (Bed Linens, Kitchen Linens, Bathroom linens, Floors and Floor Coverings, Other), By Material (Polyester, Cotton, Silk, Wool, Others), By Distribution Channel (E-Commerce, Retails (Supermarkets and Hypermarkets, Specialty Stores, Others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Home Textile Market Overview

Global Home Textile Market reached US$ 121.5 billion in 2022 and is expected to reach US$ 190.9 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2023-2030.

The global home textile market is experiencing significant growth, fueled by the expanding global e-commerce landscape. According to a Shopify article, in 2023, globally e-commerce sales is projected to increase by 8.9%, which shows the increasing demand for online retail. The market's growing size is expected to have a total value of US$6.3 trillion in 2023. The figure showcases the substantial opportunities that borderless e-commerce presents to online retailers, with an estimated 21.2% of total retail sales set to occur online by 2024.

As e-commerce continues to thrive on a global scale, it provides home textile businesses with the opportunity for easier expansion into foreign markets, shorter B2B sales cycles and quicker international presence building. The growth trend underscores the significance of e-commerce in driving the expansion of the global home textile market, making it an essential part of the industry's future growth strategy.

Asia-Pacific is expected to hold the largest share in the home textile market which is driven by the significantly growing urbanization. The Asia Bank Development predictions shows that more than 55% of Asia's population will go to live in urban areas by 2030. The urbanization is expected to increase the demand for home textiles as urban population will have to furnish and personalize their living spaces.

Home Textile Market Scope and Summary

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Home Textile Market Dynamics and Trends

Rising Urbanization

The growing urbanization is expected to increase the demand for the home textile market. Urbanization involves a substantial migration of people from rural to urban areas in search of better economic opportunities and improved living conditions. As more individuals and families move to cities, they require home textiles to furnish their new urban residences. It includes bedding, curtains, towels and other home furnishings.

According to United Nations' "World Urbanization Prospects," the world's urban population has been steadily increasing. Today, more than half of the global population lives in urban areas, a significant rise from around one-third from 1950. The trend is projected to continue, with urbanization expected to reach around two-thirds of the world's population by 2050. The ongoing migration to urban areas translates into a higher demand for home textiles as urban residents seek to furnish their homes and apartments.

Revolutionizing Home Textiles: Innovation, Customization and Sustainability

The global home textile market is experiencing significant growth and innovation, transforming living spaces into comfortable and aesthetically pleasing havens. Modern home textile solutions offer outstanding features, ease of use and affordability, catering to consumers' desires to customize their dream homes. The textiles, furnishings and accents come in a wide range of styles, colors, designs and textures which allows for personalized home décor.

Innovative products in the home textile market include luxury fabrics that captivate with their eye-catching designs and materials such as soft velvet, gleaming silk and sustainable options like organic cotton and recycled fabrics. Carpets have also evolved with technology, featuring odor-neutralizing properties and easy maintenance, ensuring long-lasting freshness. 

Curtains have seen remarkable advancements, including solar curtains that harness solar energy to regulate room temperature, magnetic curtains that retain various shapes and automated curtains for added convenience and safety, including fire-resistant options. Reliance Industries Limited has introduced a cutting-edge fabric technology called 'HEXaREL' for use in apparel and home textiles. 

HEXaREL technology-enabled textiles offer a range of impressive properties, including superior thermal conductivity, moisture management and various hygiene-related benefits. The fabrics are designed to be cool to the touch, anti-bacterial, anti-viral, mosquito repellent, anti-odor and antistatic, among other features, providing wearers with a unique level of comfort and hygiene.

Home Textile Industry Grapples with Export Decline and Rising Costs

The home textile market is facing significant constraints, with several factors contributing to its challenging outlook. Lower export demand, a vital revenue source for the sector, has been impacted by global economic uncertainties, trade tensions and shifting consumer preferences in international markets. Moreover, the industry is grappling with a sharp increase in raw material and transportation costs, squeezing profit margins for home textile manufacturers. 

Furthermore, inflationary pressures further compound the challenges, potentially eroding profitability by driving up production costs. A slowdown in sales among key markets, particularly in U.S., which accounts for a major portion of exports is led to an overall decline in sector revenue. Additionally, as consumers tighten their belts due to economic uncertainties, discretionary spending, including purchases of home textiles, has been curtailed.

Home Textile Market Segment Analysis

The global home textile market is segmented based on type, material, distribution channel and region.

Bed Linens Dominate the Home Textile Market

Bed linens hold the largest share in the home textile market for various compelling reasons. In an era where comfort and well-being are paramount, consumers are increasingly seeking bedding solutions that enhance their sleep experience. Innovations like snore-preventing pillows and weighted blankets provide not only physical comfort but also contribute to relaxation and stress reduction.

Furthermore, the integration of technology into bedding products, as evidenced by items like Energy Textiles' Far-Infrared Textile, promotes increased blood flow and overall well-being. Aesthetics remain a crucial factor, with consumers looking for bedding that not only provides comfort but also complements their interior design preferences. Temperature-regulating options, eco-friendly materials, customization and stress-relief features further underscore the appeal of bed linens, as manufacturers continuously innovate to cater to diverse consumer demands in this dynamic market.

SPACES, a premium home linen brand, has introduced an innovative Air Purifying Range of home linens designed to enhance the air quality in bedrooms, promoting healthier and more comfortable sleep. The initiative comes at a critical time when concerns about poor air quality are on the rise. Each linen piece in this collection features CO2 Pure, a groundbreaking and patented 100% natural mineral compound that is incorporated into the raw material of the bedsheets and comforters.

Home Textile Market Geographical Penetration

Asia-Pacific Home Textile Market Surges with Urbanization Wave

Asia-Pacific is witnessing remarkable growth in the home textile market, largely fueled by the ongoing wave of urbanization. With urbanization rates expected to surge, particularly in countries like China, India, Pakistan, Bangladesh, the Philippines and Vietnam, more people are relocating to cities. The population shift translates into a heightened demand for home textiles as urban dwellers seek to furnish their new homes and urban apartments with bedding, curtains and furnishings. 

However, by 2030, United Nations projected that this proportion would surge to 60 percent, totaling 4.9 billion urban dwellers. Importantly, nearly 95 percent of this massive urban growth was anticipated to occur in less developed countries, with Asia at the forefront. The rapid urbanization in Asia is driving the growth of the home textile market, as urban dwellers seek to furnish their homes and apartments with bedding, curtains and furnishings.

Home Textile Market Companies

The major global players in the market include Samsonite, Welspun India Ltd, Trident Group, Springs Global RI, Ralph Lauren Home, WestPoint Home, Mohawk Industries, Surya, Waverly, Fuanna, New Sega Home Textiles.

COVID-19 Impact on Home Textile Market

The COVID-19 pandemic has had a significant impact on the Home Decoration and Home Textile sector. In the short and medium term, the crisis has seriously affected the demand for home textile products, particularly in the mid to high-end segments, as the sector is considered sensitive to economic cycles. The pandemic has reshaped consumer preferences and behaviors in the home textile market, emphasizing the importance of comfort, quality and sustainability in home decor choices. 

As people spent more time at home due to lockdowns and safety concerns, their homes became central to their lives and the concept of "home living" gained prominence. Consumers sought comfort, security and peace in their homes, leading to a desire to cocoon and refresh their living spaces. The trend has been a boon to the home textiles industry. As consumers continue to prioritize their homes as safe havens, the home textile market is expected to see continued growth and innovation in response to evolving consumer trends.

Russia-Ukraine War Impact

The Russia-Ukraine conflict has sent ripples across the global home textile market, primarily through indirect channels. One notable effect is the surge in commodity prices, particularly in food and energy sectors. The rising raw material costs can subsequently elevate production and transportation expenses for home textile manufacturers. Furthermore, supply chain disruptions, particularly in rail and air freight, have emerged as a significant concern. The disruptions have led to delays in the delivery of both raw materials and finished products, hampering the production and distribution processes for home textiles.

 Furthermore, the conflict has induced a degree of economic uncertainty, impacting consumer confidence. In times of uncertainty, consumers cut back on non-essential purchases, including home textiles, potentially slowing down demand for these products. Exchange rate fluctuations, prompted by geopolitical tensions, have further complicated matters in developing countries.

By affecting the pricing strategies of home textile manufacturers and retailers as they grapple with varying currency values, the market is likely to witness reduced demand. Overall, while the home textile market may not be the most directly affected by the Russia-Ukraine conflict, it is not immune to the broader economic and logistical challenges stemming from this geopolitical situation.

Key Developments

• In July 2023, Nesterra, a renowned premium home furnishings brand specializing in upholstery and drapery, unveiled 12 captivating new collections at the Home Decor Expo 2023 in Mumbai. Nesterra, a brand under the prestigious K.K. Birla Group's Sutlej Textiles & Industries Ltd., is known for its commitment to transforming living spaces into unique, personalized environments that reflect individual personalities.
• In January 2023, BKS Textiles, a prominent name in the home textiles segment, announced the launch of its sustainable bedding brand called 'Ekoscious' at the Heimtextil 2023 trade show. To address the growing demand for sustainability and a circular economy, BKS Textiles introduced the 'Ekoscious' bedding brand, featuring six collections crafted from different sustainable fibers such as traceable organic cotton, linen, hemp, Tencel, bamboo and recycled polyester.

Why Purchase the Report?

• To visualize the global home textile market segmentation based on type, material, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of microwave packaging market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global home textile market report would provide approximately 60 tables, 60 figures and 190 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies