Global Home Textile Products Market Projected to Reach US$ 169.1 Bn by 2031 Amid Surging Demand for Interior Design: TMR Report

Increased spending on interior design and house decoration and the growing expansion of residential and commercial construction sectors are the key factors projected to boost the global home textile products market

Wilmington, Delaware, United States, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global home textile products market is projected to flourish at a CAGR of 5.4% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 169.1 billion is anticipated for the market in 2031. As of 2023, the market for home textile products is expected to close at US$ 111.2 billion.

Increasing home renovation and remodeling activities have led to a growing demand for new and stylish home textile products to upgrade interiors, which is likely to drive the demand for the home textile products market. Growing awareness of home aesthetics and the desire for well-designed living spaces have contributed to increased demand for decorative home textile products.

The increasing demand for high-quality and durable home textile products, such as bedding and towels, in the hospitality industry, also drives the market growth.The expansion of hotels & restaurants internationally as a result of a surge in tourism activities is anticipated to have a significant impact on product demand in the next few years.

The rise of e-commerce platforms and online retailing has made it easier for consumers to explore and purchase a wide variety of home textile products, providing an opportunity for growth of the home textile products market during the forecast period.

Eco-conscious consumers are seeking sustainable and eco-friendly home textile products made from organic or recycled materials, boosting the market demand. There is a growing demand for textiles made from organic and natural materials, recycled fibers, and low-impact dyes.

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Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 105.6 Bn

Estimated Value

US$ 169.1 Bn

Growth Rate - CAGR

5.4%

Forecast Period

2023-2031

No. of Pages

150 Pages

Market Segmentation

By Product, By Material, By End-user, By Price, By Distribution Channel

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, South America

Companies Covered

Hunan Mendale Hometextile Company Ltd., LLC Honsun Home Textile, Marvic Textiles, New Sega Home Textiles, Ralph Lauren Corporation, Shanghai Hometex, Honsun, Shenzhen Fuanna, Springs Global, Trident Group, Welspun Group

Key Takeaways from the Market Study

As of 2022, the home textile products market was valued at US$ 105.6 billion

By product type, the bedroom linen segment to enjoy high demand, accumulating a high revenue share during the forecast period

Based on the material, the polyester segment accounts for the highest market share

Based on the distribution channel, the offline segment is expected to generate high revenue during the forecast period, due to increased sales through supermarkets, specialty stores, and other retail stores.

Home Textile Products: Key Trends and Opportunistic Frontiers

With the growing demand from the construction sector to drive the growth in the home textile products market. Increasing developments in the residential and commercial sectors are expected to boost market demand.

Ongoing research and development efforts have led to technological advancements in home textile products such as home textiles with high performance and increased durability.

Some home textile companies are offering more customizable options, allowing consumers to personalize their bedding, curtains, and other products to match their individual preferences and style

Manufacturers continuously invest in research and developing innovative products to cater to the growing need of consumers.

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Home Textile Products Market - Regional Analysis

North America is expected to dominate the home textile products market during the forecast period owing to the increased demand for bedding linens, towels, and curtains. The market is driven by factors such as a strong housing market, increasing consumer spending on home furnishings, and a preference for functional and stylish home textiles.

The Asia-Pacific region is one of the fastest-growing markets for home textile products due to rapid urbanization, a rising middle class, and changing lifestyles. The region is also a manufacturing hub for home textiles, supplying products globally.

Competitive Landscape

Home textile products are highly consolidated with the presence of few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global home textile products market report:

Hunan Mendale Hometextile Company Ltd.

LLC Honsun Home Textile

Marvic Textiles

New Sega Home Textiles

Ralph Lauren Corporation

Shanghai Hometex, Honsun

Shenzhen Fuanna

Springs Global

Trident Group

Welspun Group

Key Developments in Global Powder Coatings Market

In January 2022 — Ralph Lauren Corporation announced a partnership with Franklin Venture Partners, Through the strategic partnership, Ralph Lauren will make a capital investment with Franklin Venture Partners who will seek to invest in innovative consumer technology companies, with a particular focus on companies led by women.

In June 2021 - Marvic Textiles introduces a new collection named Metro Textures. Metro Textures has an understated elegance, and very much embodies the current trend for relaxed, homely interiors with a natural aesthetic.

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Home Textile Products Market – Key Segments

By Product

Bedroom Linen

Bedspreads

Bedsheets

Blankets

Pillows & Pillow Covers

Others (Throws & Quilts, Bed Covers, etc.)

Bathroom Linen

Bath Towels

Bath Mats

Face Towels

Hand Towels

Others (Leisure Towels, etc.)

Kitchen Linen

Aprons

Kitchen Towels

Oven Mitts

Pot Holders

Others (Dish Cloths, Sink Mats, etc.)

Table Linen

Table Runners

Table Napkins

Table Mats

Table Skirting

Others (Table Covers, Table Cloth, etc.)

Window Coverings

Curtains

Blinds

Sun Filters

Drapes

Carpets and Floor Coverings

Carpet Rugs

Mats

Rug Pads

Others

By Material

Polyester

Cotton

Silk

Wool

Others (Plastic, Fabric, etc.)

By End-user

Residential

Commercial

Hotels / Resorts

Offices

Shops

Others (Hospitals, etc.)

By Price

Low

Medium

High

By Distribution Channel

Online

E-commerce Website

Company Owned Websites

Offline

Supermarkets / Hypermarkets

Specialty Stores

Other Retail Stores

Region

North America

Europe

Asia Pacific

Middle East & Africa

South America

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