The global home textiles market is expected to grow at an annual rate of 3.51 per cent between 2020-2025. The market size will reach $151.825 billion by 2025. China will maintain its dominance position in the segment, and will also remain the largest home textiles market in the world with a share of over 28 per cent. India may achieve highest growth.
According to Fibre2Fashion’s market insight tool TexPro, global market size of home textiles was recorded at $110 billion in 2016. It grew to $127.758 billion in 2020 and $132.358 billion in 2021. The market is expected to grow to $136.990 billion in 2022, $141.648 billion in 2023, $146.606 billion in 2024 and $151.825 billion in 2025. The market is likely to have average annual growth rate of 3.51 per cent between 2020-2025.
China will maintain its dominant position in the global home textiles market. Chinese textile market was $27.907 billion in 2016, which grew to $36.056 billion in 2020, and $38.292 billion in 2021. The market will grow to $40.581 billion in 2022, $42.928 billion in 2023, $45.411 billion in 2024 and $48.036 billion in 2025. The market is likely to have an average annual growth rate of 5.90 per cent between 2020-2025, as per TexPro.
US market of home textiles will grow at 2.06 per cent annually between 2020-2025. Home textiles market was $24.064 billion in 2016, which grew to $26.698 billion in 2020 and $27.287 billion in 2021. The market will grow to $27.841 billion in 2022, $28.386 billion in 2023, $28.958 billion in 2024 and $29.566 billion in 2025. Rest of Europe (other than Germany, France, UK and Italy) can witness annual growth of 1.12 per cent to reach $11.706 billion in 2025. The market was $10.459 billion in 2016 and $11.198 billion in 2021.
India will surpass Rest of Asia-Pacific (other than Russia, China and Japan) in 2024 when India’s textile market will grow to $9.835 billion while Rest of Asia Pacific will reach $9. 667 billion. Indian market will reach $10.626 billion in 2025 with annual growth of 8.18 per cent in during the five years. India’s growth rate will be highest in the world. In 2016, the market size was $5.203 billion in India and $6.622 billion in Rest of Asia Pacific region.
Bed linen and bedspread category among home textiles segment is expected to see highest growth in market size between 2020 and 2025. Annual global market growth is expected at 4.31 per cent, which will be higher than 3.51 per cent growth of the entire home textiles sector. Bed linen and bed spread constitutes 45.45 per cent of the total home textiles market.
According to Fibre2Fashion’s market insight tool TexPro, bed linen market size was $48.682 million in 2016, which grew to $60.940 billion in 2021. It may expand to $63.563 billion in 2022, $66.235 billion in 2023, $69.080 billion in 2024, and $72.088 billion in 2025. Therefore, annual growth rate will be 4.31 per cent between 2020-2025. Higher growth will lead to increase in market share of bed linen in the entire home textiles market.
Bed linen market share was 45.45 per cent out of total home textiles market in the world in 2021. Bed linen market size was $60.940 billion, while home textile market was $132.990 billion in 2021. Higher annual growth will expand market share of bed linen to 47.68 per cent by 2025. Bed linen market size will be $72.088 billion, out of total $151.825 billion home textiles market in 2025.
As per TexPro, the market size of bath/toilet linen was $27.443 billion in 2021. It can grow at annual growth of 3.40 per cent and may reach $30.309 billion till 2025. Floor segment of home textiles was estimated at $17.679 billion in 2021 and will reach $19.070 billion with annual growth of 1.94 per cent by 2025. Upholstery market size will increase from $15.777 billion to $17.992 billion with annual growth of 3.36 per cent. Kitchen linen market will increase from $11.418 billion to $12.365 billion with growth of 2.05 per cent during the same period.
Post time: Nov-16-2022