LONDON--(BUSINESS WIRE)--The global home textile retail market is expected to grow by USD 57.69 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The sales volume of home textile products is increasing with the availability and growing demand for superior-quality products. In addition, vendors are developing and offering personalized and eco-friendly home textile products to keep up with the changing preferences of customer. This is leading to product innovation and product-line extensions. Growth in online retailing and presence of various distribution channels allows customers to choose from a varied variety of products. Thus, product innovation and product-line extensions will boost the growth of the home textile retail market during the forecast period.
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As per Technavio, the increase in demand for eco-friendly and green furnishings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Home Textile Retail Market: Increase in Demand for Eco-Friendly and Green Furnishings
Furniture manufacturers are going green due to the adverse effects of toxic finishes and impact of extensive deforestation on climate change. Consequently, they are developing eco-friendly home furnishings that include home textiles, which are manufactured using fibers. These fibers are safe as they are obtained from plants that were grown without adding fertilizers, chemicals, and pesticides. Eco-friendly home furnishing products such as bedspreads, towels, carpets, rugs, and others do not contain toxic chemicals such as pentachlorophenol, which is harmful for human skin. Thus, with the increase in demand for eco-friendly and green furnishings, the market for home textile retail is expected to showcase a positive outlook during the forecast period.
“The growth in the construction industry around the world and distribution channel expansion strategy by vendors are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Home Textile Retail Market: Segmentation Analysis
This market research report segments the home textile retail market by product (bed linen, bedspreads and other bedroom textiles; bath linen; carpets and rugs; upholstery; kitchen linen; and others), distribution channel (online and offline), and geographic segmentation (APAC, Europe, MEA, North America, and South America).
The APAC region led the home textile retail market in 2019. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the penetration of international brands into emerging economies such as India and China and improving household disposable income.
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Some of the key topics covered in the report include:
- Bed linen
- Bedspreads and other bedroom textiles
- Bath linen
- Carpets and rugs
- Kitchen linen
Distribution Channel Segmentation
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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