Global Home Textile Retail Market 2020-2024 | 7% CAGR Projection Through 2023 | Technavio
The global home textile retail market is expected to post a CAGR of almost 7% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Prominent vendors have started using online platforms to expand their geographical reach and customer base. Several small and local players are also adopting such business strategies to increase the sales of their products on a domestic level. Moreover, the convenience offered by online shopping and the availability of various discount offers available in online shopping platforms has significantly increased the sale of home textile retail products. With the increasing number of internet users in developing countries, the growth of the global home textile retail market is expected to accelerate during the forecast period.
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As per Technavio, the increase in demand for eco-friendly and green furnishings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2020-2024.
Global Home Textile Retail Market: Increase in Demand for Eco-Friendly and Green Furnishings
Consumers are increasingly becoming aware of the harmful effects of deforestation on climate and the effects of toxic finishes in the air inside homes. This is prompting consumers and many furniture manufacturers to go green. This has led several vendors to introduce home textiles made from fibers sourced from plants that are grown without the use of pesticides, chemicals, and fertilizers. Vendors are also using different trademark-seeking certifications under the eco-labeling programs supported by government bodies and independent organizations. This trend is expected to have a positive impact on the growth of the global home textile retail market.
"Rising popularity of interior designing and the use of technologies to enhance customer experience will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Global Home Textile Retail Market: Segmentation Analysis
This market report segments the global home textile retail market by distribution channel (offline and online), product (bed linen, bedspreads, and other bedroom textiles, bath linen, carpets and rugs, upholstery, kitchen linen, and others), and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2019, followed by North America, Europe, MEA, and South America, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the exponential growth of the real estate industry in the region.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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