According to a recent report by Fact.MR, a market research and competitive intelligence provider, demand for textile home decor products is projected to surpass a valuation of US$ 163 Mn by 2031, rising at a CAGR of around 6.5% over the decade.
Developments in the construction industry and growing real estate sectors are expected to contribute well to an upsurge in demand for textile home decor products. In addition, maintaining status symbol has gained traction in today’s times, where consumers are demanding unique and good-quality products that even cost more.
Rise in the home furniture industry is expected to open new opportunities for home decor providers. Growing demand from the hospitality sector for bed & table linen is anticipated to drive market growth. Few other factors such as improvement in living standard of people, increasing urbanization & modernization, growing real estate industry, rising disposable income, and development in distribution networks worldwide are set to boost sales of textile home decor products over the coming years. High cost of raw material is expected to be the only major factor that can hamper market.
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Key Segments in Textile Home Decor Industry Survey
- By Product Type :
- Floor Coverings
- Kitchen Linen
- Bed linen & Bedspread
- By Application :
- Indoor Decor
- Outdoor Decor
- By Sales Channel :
- Offline Channels
- Independent Small Stores
- Retail Stores
- Other Sales Channels
- Online Channels
- Brand/Company’s Website
- E-commerce platforms
- Offline Channels
- By Region :
- North America Textile Home Decor Market
- Latin America Textile Home Decor Market
- Europe Textile Home Decor Market
- South Asia Textile Home Decor Market
- East Asia Textile Home Decor Market
- Oceania Textile Home Decor Market
- Middle East Africa Textile Home Decor Market
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Key Takeaways from Market Study
- Rising urbanization and spending capacity are key macroeconomic factors that can positively impact the global market for textile home décor.
- Innovation in products is expected to enable manufacturers develop organic and natural home decor products with no harmful impact on the environment.
- Among the product types, the bed linen/bedspreads segment has been the fastest-growing segment, owing to rise of the real estate and hospitality sectors globally.
- North America is set to dominate market revenue and gain 89 BPS by 2031.
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the demand for textile home Decor market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for textile home Decor products based on product type (floor coverings, kitchen linen, bath/toilet, bed linen/bedspread, and others), application (indoor Decor and outdoor Decor) and sales channel (offline and online) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
The global textile home decoration market is highly competitive, and in order to cope up with the competition, manufacturers are adopting several marketing strategies such as mergers, expansions, acquisitions, and partnerships, along with product innovation, to create a larger customer base and increase their market share.
- For instance, a London-based label – Shrimps, launched a textile home decor product in collaboration with Habitat.
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