Home Textile Market Growth & Trends
The global home textile market size is expected to reach USD 185.97 billion by 2030, expanding at 5.7% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The home textile & bedding industry is in a state of flux. Shifting retail models, along with changing consumer preferences, encourages manufacturers to continuously implement new strategies to combat challenges. The overall business arena is undergoing a disruption owing to the rapid adoption of online retailing.
Organic fiber-based materials have witnessed an increased demand over the years. Several consumers have been showing a preference for organic cotton as well as for certifications such as Oeko-Tex, which ensure that no toxic chemicals are used while manufacturing the product. In January 2021, Mitchell Gold + Bob Williams launched its first exclusive bedding line, and the collection comprises of an array of textures and subtle colors. Every piece in the line has Oeko-Tex Certification. Thus, organic and natural products that are eco-friendly, as well as toxin-free, have been gaining traction.
Manufacturers, to produce quality products, have been using the most modern technologies and are thus, continuously updating their manufacturing facilities. The manufacturing of home textile products can be initiated with low-to-medium capital investment and thus, a plethora of manufacturers have entered the picture. With the changes in consumer buying behavior, high-end products have also been experiencing traffic.
The e-commerce market is expected to progress at a faster rate than the offline market in the coming years. The concept of the bed-in-a-box has been gaining popularity among consumers, which is expected to contribute to the growth of online distribution channels over the forecast period. Benefits such as convenient and hassle-free purchasing, free delivery by many companies, and the availability of a wide variety of products to suit everybody’s size and sleeping style have significantly contributed to the popularity of this trend.
Manufacturers and retailers in the industry have been leveraging all consumer touchpoints to move consumers beyond replenishment and inspire them to purchase new products, which has resulted in the collaboration and coordination of hundreds of workers at multiple companies around the globe. This complex and tightly interconnected network can have significant implications on the price, quality, and availability of products that customers ultimately see at the end of the supply chain.
Request a free sample copy or view report summary: Home Textile Market Report
Home Textile Market Report Highlights
Home textile products, including bed linen, made using natural fabrics have been in demand for a decade now. However, the demand for natural materials has seen significant growth since the pandemic and is expected to increase further in the future. For bed linens, Scandinavian designs in naturally grown fabric materials and stripped-down styles have been trending in 2022. Most designer magazines featuring home decor highlight Scandinavian influence on bed linens, as they create light-and-bright bedrooms with an airy aesthetic while offering a superior feel and comfort owing to the incorporation of natural fabric
Shifting retail models along with changing consumer preferences push manufacturers to continuously form new strategies to combat the challenges. Manufacturers have been focusing on automating manufacturing plants and engaging in constant product innovation to launch products that provide better solutions to users
Companies in the North America home textiles have been implementing various corporate strategies to achieve instant inorganic growth, with partnerships being one of the most vital strategies. For instance, in December 2020, WestPoint Home, Inc., partnered with asthma and allergy expert Robin Wilson to develop bedding and bath collections under the Clean Design Home x Martex brand. The assortment includes sheets, comforters, towels, and utility bedding
Comments