Global Home Textile Products market is expected to grow at a CAGR of 4.5% and is anticipated to reach around USD 102 Billion by 2026.
NEW YORK, UNITED STATES, June 16, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Home Textile Products Market By Product (Bedroom Linen, Bathroom Linen, Carpets and Floor Coverings, and Others), By Distribution Channel (Retail Outlets and Online), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Home Textile Products market in 2019 was approximately over USD 75 Billion. The market is expected to grow at a CAGR of 4.5% and is anticipated to reach around USD 102 Billion by 2026.
Home textile products are natural or synthetic flexible fabrics made for home furnishing and adornment. Apart from the decorative uses, home textile products are also used for various other functions such as carpeting, towels, window shades, table & bed coverings, etc. Furthermore, the fabric blending process is performed in some cases to increase the durability of home textile products.
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The growing demand for ecologically sustainable home textile products is one of the primary factors driving the market growth. Moreover, the refined taste of consumers for high-quality and designer textiles is likely to increase product availability and sales despite spiking prices. The high disposable income and increasing spending on home textiles for making furnishings a style quotient is likely to boost the sales of the Home Textile Products market. The e-commerce retailers are also helping the market gain momentum by easing the purchase, cost, and product varieties options. Additionally, the surging real estate market and rising standard of living have increased the expenditure on home decoration and interior which, in turn, is projected to augment the market growth. The growing trends in home furnishing are anticipated to supplement the growth of the Home Textile Products market.
Market Segment Dominance:
Bedroom linen category is expected to hold the majority of the market share of the global Home Textile Products market
The bedroom linen category held the largest market share of the global Home Textile Products market in 2018. The dominance of the category is attributed to the rising demand for blankets, bedspreads, and cushion & cushion covers for home furnishing is predicted to help the market growth over the forecast period. The increasing addition of special features and comfort to the bedspreads by the manufacturers is anticipated to propel the global Home Textile Products market growth.
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Retail outlets held the highest market share during the forecast period
The dominance of the retail outlets category is attributed to the growing demand for product examination before purchasing among consumers. Additionally, these outlets offer assistance in terms of selecting the right product. All these factors are projected to support category growth.
North America accounts for the largest market share of the global Home Textile Products market
North America is expected to dominate the global Home Textile Products market owing to the high demand for home textiles. In addition to this, the growing standard of living and high purchasing power are likely to fuel the growth of the market. The growing number of manufacturers and sellers has increased the availability and variety of luxury home textile products in the region, thereby surging the growth of the global Home Textile Products market.
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Some of the major market players of the global Home Textile Products market include Springs Global, Welspun Group, Marvic Textiles, Ralph Lauren Corporation, Shenzhen Fuanna, Honsun Home Textile Co.LTD, New Sega Home textiles, Hunan Mendale Hometextile Company Ltd., and Trident Group, Shanghai Hometex.
This report segments the global Home Textile Products market as follows:
Global Home Textile Products Market: Product Segmentation Analysis
Carpets and Floor Coverings
Global Home Textile Products Market: Distribution Channel Segmentation Analysis
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