The global home textiles sector is becoming one of the most lucrative segments in the textiles industry. The consumption of home textiles across the global has witnessed consistent growth driven by factors like rising consumer spending on home renovation and fashion sensitivity towards聽household furnishing. With the current popularity of home textile products moving forward, the global home textiles market is expected to achieve even greater success in the near future.
Today, the global home textiles market offers wide range of textile products for household appliances such as bedspreads, furnishing fabrics, curtains, rugs, carpets, placemats, cushion covers, table covers, linen, kitchen accessories, made-ups, bed spreads, bath linen, and other home furnishing accessories.
According to the Indian Texpreneurs Federation (ITF), the market size of global home textiles was valued at approximately USD 96 billion in 2016. The total retail value of the global home textiles sector is expected to reach USD 131.5 billion by 2020, registering a CAGR of 3.5%.
The soaring demand for home textile products from Asian markets such as China, India, South Korea and Indonesia will be one the major factors driving market growth, thanks to the boom in the housing market and a rapidly growing middle class.
Currently, China, the US and Europe are dominating the global home textiles market as consumers, while Asian countries such as China, India, and Pakistan are some of the largest suppliers for the global textiles market.
When it comes to products, curtains remain the largest sub category of home textiles, followed by textile flooring, bed linen, towels and table, toilet and kitchen linen. The primary fabrics being used in global home textile manufacturing include cotton, polyester, silk, and some natural fibres such as bamboo and viscose-silk.
According to the Fibre2Fashion analysis, global home textiles demand is expected to witness steady growth in聽the near future. Economic recovery is expected to increase consumers鈥� purchasing power, generate GDP growth and strengthen the housing market, all of which will boost sales of home textiles and furnishings products.
Moreover, the emergence of E-commerce in the home textiles and furnishings market is reaching new heights, and with the increasing number of shopping websites, the market is also experiencing growth. However, the global home textile market is also facing some key challenges, such as rising raw material prices, strict legislative requirements and high competition.
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