Textile Home Decor Market
Textiles Home Decor Market Analysis, By Product Type (Floor Coverings, Kitchen Linen, Bath/Toilets, Bed Linen/Bedspreads), By Application (Indoor Décor, Outdoor Decor), By Sales Channel (Offline, Online) - Global Market Insights 2021 to 2031
Textile Home Decor Market Outlook
The global textile home decor market is valued at US$ 97.6 Mn, and is expected to surpass US$ 163 Mn by 2031, expanding at a CAGR of 6.5% over the 2021-2031 assessment period.
Base Year Value (2020A)
US$ 96.2 Mn
Estimated Year Value (2021E)
US$ 97.6 Mn
Projected Year Value (2031F)
US$ 163.4 Mn
Value CAGR (2021-2031)
Collective Value Share (US, UK, Germany): Top 3 Countries
Key Companies Profiled
The U.S., U.K., and Germany lead as far as textile home decor demand is concerned, holding close to 48% share in the global market. Textile home decor product sales hold a market share of around 30% of the global home decor market.
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Demand Analysis of Textile Home Decor (2016-2020) Vs Market Outlook (2021-2031)
Rise in adoption of modern architecture over the past demi-decade is attributed in the growth of construction industries by more the 2X. Increasing population and changing consumer preferences are resulting in more rental facilities for couple parents and single parents, which has boosted the sales of various home decor products and other accessories.
Another factor that contributes towards rising demand is influencing millennial renters of home decor, thus opening new avenues for market players. Increasing demand for stylish products to showcase unique standards of living is also projected to drive market growth of textile home decor products.
Consumers are shifting their focus towards using organic and natural products that are sustainable in the long run. Catchy schemes and discounts attract consumers to make big purchases as well. Nowadays, many textile home decor designers are replacing plastic with bioplastics for environmental sustainability.
Fact.MR projects the market to remain steady, exhibiting growth at 6.5% CAGR from 2021 to 2031 in comparison to the CAGR of 5.4% posted over 2016 to 2020.
Modernization has resulted customer’s preference to the convenience products. E-commerce platforms play an important role in the availability of several home decor products which has enabled the market growth to a wide extent. Also, increasing purchasing power has facilitated its expansion. For adding attractiveness and creativity in their home, people have adopted different types of textile home decor products. The listed factors are expected to drive the market over the forecast period (2021-2031).
Textile Home Decor Products Gaining Traction across Regions
In developed countries, increase in rent class generation in metropolitan cities is predicted to be a key factor responsible for expanding the global market for textile home decor. Rising millennial renters, including couples as well as young families, who are looking for affordable home decor alternatives, are likely to contribute to market expansion.
Rise of the interior design business has opened the way for opulent and high-end home decor products that provide guests with a memorable experience. These luxurious and high-end items contribute to spiritual and aesthetic enjoyment, as well as the sophistication of the household's residents. Additionally, there has been noteworthy growth in the renovation of houses in different regions with certain homeware products such as decorative lighting, wooden and marble flooring, and eco-friendly furniture.
Sales of textile home decor products are rising on the back of the rent generation and growing demand for accommodation. Over 55% of the population in the world is urbanized, and prefers high standards of living. Besides, rise in government spending on infrastructural facilities has promoted market growth.
Home decoration product manufactures are continuously coming up with new improvised products due to rapidly changing customers’ behavior. The difference in the fashion taste among the young generation and elderly population has provided high opportunity to manufacturers of home decor supplies.
Why the Textile Home Decor Market in the U.S. Leading Globally?
The North American market for textile home decor is anticipated to depict the largest share of sales across the globe over the coming years due to high purchasing power of consumers and extensive distribution networks, resulting in wider and easier availability of home textiles in the region, particularly in the U.S.
Should Market Players Look to the ASEAN Textile Home Decor Market?
In 2020, China accounted for over 46% share of the APEJ market for textile home decor products. According to a latest survey, sales in the Asia Pacific region are also to escalate over the forecast period, with India and China as the main suppliers in the home textiles market.
An Adaptive Approach to Modern-day Research Needs
What Type of Textile Home Decor Products are Most Popular?
Rise in the spending capacity of consumers on household textile products such as curtains, beddings, home furnishings, and apparel has been witnessed with an increasing trend. Moreover, maintaining social status has become a concern among several consumers, which is changing their preferences towards the usage of high-quality decorating products. This is expected to scale demand for textile home decor products across regions.
Which Sales Channel Generates Most Revenue from Textile Home Decor Product Sales?
Offline sales channels hold a high market share of 95.4%, which include home decor stores, specialty stores, franchised stores, and other stores. However, sales of textile home decor items through online channels are expected to grow at a higher rate as compared to offline channels over the forecasted period.
Impact of COVID-19
The spread of coronavirus is being felt globally across operations in ways that are difficult to model and assess. The affected regions are at the heart of many global supply chains. A huge impact of the pandemic is seen across different industries in the world.
This is predicted to be one of the restraining factors for the home decor market. However, as lockdowns are being lifted and an ease on restrictions has been observed, textile home decoration product distribution channels are gaining back their pace and are expected to experience a smooth flow over the next few years.
Interested to Procure The Data
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.
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