In the modern home, textiles are becoming increasingly important. Along with the rising trend in household consumer spending, there has been an increase in spending on domestic textile products such as bedding, furniture, curtains, and clothing. Additionally, consumers are now more drawn to using goods made with the new garment technology. For instance, a number of producers sell bed sheets that are manufactured from thermolite and coolmax materials.
According to Data Bridge Market Research, the Global Textile Home Decor Market is expected to reach USD 175.53 billion by 2030, which is USD 105.27 billion in 2022, registering a CAGR of 6.60% during the forecast period of 2023 to 2030
" Surging development of new buildings and single-person homes surge market demand"
The demand for home furnishings such as textile home décor is increasing due to the rise in single-person dwellings and new construction in various places. For instance, the U.S. Census Bureau reported that there were around 37.89 million single-person-led households in the country in 2022. There are now more single-person homes in the United States than there were a year ago, when there were roughly 36.5 million of them. As a result, the rapid construction of new structures and single-person dwellings ultimately raises the demand for textile home decor, which is anticipated to fuel market expansion.
What restraints the growth of the global textile home decor market?
" High cost can impede the market growth”
During the projected period, the market expansion is anticipated to be constrained by the high cost of raw materials such as nylon used to manufacture textile home decor. For instance, the wholesale price index for cotton yarn in India hit 140 in 2022, according to the Office of Economic Adviser (India). The price index value has climbed by almost 40% during the last few years. As a result, there will likely be less demand for textile home decor, which would limit market expansion.
Segmentation: Global Textile Home Decor Market
The textile home decor market is segmented on the basis of product type, price, income group, distribution channel, and application.
- On the basis of product type, the textile home decor market is segmented into bed linen and bedspread, floor coverings, kitchen and dining linen, bathroom linen, upholstery, and others
- On the basis of price, the textile home decor market is segmented into premium, mass
- On the basis of income group, the textile home decor market is segmented into lower-middle, upper-middle
- On the basis of distribution channel, the textile home decor market is segmented into supermarkets/hypermarkets, specialty stores, online retail stores, and other distribution channels
- On the basis of application, the textile home decor market is segmented into indoor decor, outdoor décor.
Regional Insights: North America dominates the Global Textile Home Decor Market
North America's dominance in the textile home decor market is attributed to its rapid urbanization and improved consumer lifestyle. As living spaces evolve, the region witnesses increased demand for innovative and creative home decor items. The introduction of new and unique products, coupled with the growing preference for stylish and functional textiles, further fuels market growth. North America's focus on interior design trends and home aesthetics drives manufacturers to continually innovate, making the region a key player in the global textile home decor market.
Europe's projected growth in the textile home decor market from 2023 to 2030 is driven by the rising expenditure capacity of consumers. As economies evolve in the region, consumers are allocating more funds to household textile products, including home furnishings, curtains, beddings, and apparel. The growing demand for aesthetically pleasing and comfortable living spaces boosts the market. Moreover, the region's emphasis on eco-friendly and sustainable textiles aligns with the evolving preferences of environmentally conscious consumers, further propelling market development.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-textile-home-decor-market
Recent Developments in Global Textile Home Decor Market
- In 2021, For the purpose of developing a new online marketplace, Kroger purchased Bed Bath & Beyond. Putting storage, bedding, and baby equipment from Bed Bath & Beyond and its Buybuy Baby chain on Kroger's Ship marketplace, this partnership grows both businesses. Shoppers at Kroger will have access to Bed Bath & Beyond store brands such as Wild Sage, Squared Away, Nestwell, Haven, Simply Essential, Our Table, Studio 3B, and H for Happy as well as national names.
- In 2021, The development of Kimball International Inc.'s warehousing activities has been announced. This commercial furniture manufacturer revealed plans to build a 220,000 square foot warehouse at its Dubois County industrial facility.
The Prominent Key Players Operating in the Global Textile Home Decor Market Include:
- Mannington Mills, Inc (U.S.)
- Companhia de Tecidos Norte de Minas (Brazil)
- Kurlon (India)
- American Textile Company. (U.S.)
- Leggett & Platt, Incorporated (U.S.)
- Nitori Holdings Co., Ltd. (Japan)
- Williams-Sonoma Inc. (U.S.)
- MOHAWK INDUSTRIES, INC.. (U.S.)
- American Signature, Inc. (U.S.)
- Bombay Dyeing (India)
- Vescom B.V. (Netherlands)
- MITTAL INTERNATIONAL (India)
- Kimball International Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global textile home decor market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Textile Home Decor Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
