Technavio’s Home Textile Retail Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

NEW YORK, Nov. 10, 2021 /PRNewswire/ — The latest home textile retail market research report by Technavio infers that the…

NEW YORK, Nov. 10, 2021 /PRNewswire/ — The latest home textile retail market research report by Technavio infers that the increased consumer spending on home renovation and household furnishing is driving this market’s growth.

Resulting in market growth of USD 52.43 billion from 2020 to 2025, read additional information about the market, Fill the Form and get FREE sample report.

Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market.

Amazon.com Inc., Ashley Furniture Industries Inc., Bed Bath and Beyond Inc., Inter IKEA Holding BV, Restoration Hardware Inc., Steinhoff International Holdings NV, Tesco Plc, The Home Depot Inc., and Wayfair Inc. among others are some of the few key vendors competing to maintain their market position in the market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the furniture industry. For instance, In August 2021, Amazon.com Inc announced the launch of a new Fulfilment Centre (FC) and a specialized FC for large appliances and furniture in Coimbatore, India. Similarly, in August 2021, Bed Bath and Beyond Inc. announced an exclusive retail partnership with Safely to bring the next generation of home care to America.

View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Product: 
    • BBO: 
      • The bed linen, bedspreads, and other bedroom textiles (BBO) segment contributed largely to the overall market growth in 2020.
      • The BBO segment will continue to remain the largest segment of the market in 2025. The growing Internet penetration and the number of people using smartphones for online shopping of sheets, pillows, duvet covers, pillowcases, bedspreads, quilts, quilt covers, blankets, blanket covers, bed throws, and others will drive the segments’ growth during the forecast period.
    • Bath linen
    • Carpets and rugs
    • Upholstery
    • Others

 

  • Segmentation by Distribution Channel:
    • Offline:
      • In terms of distribution channel, the offline segment generated maximum revenue in the market in 2020.
      •  The offline segment market share was the largest due to a huge number of consumers still preferring to visit retail stores to check out the look and feel of bedspreads and other linen physical rather than through online pictures and videos.
    • Online

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook

APAC will contribute 35% of the market growth during the forecast period.  The growth of this region can be attributed to the exponential growth of the real estate industry owing to the rising demand for residential units from nuclear families.

Apart from regions, if we look at the country-wise market growth, the US, China, India, Germany, and UK will contribute to the highest market growth.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Global Home Textile Retail Market

  • Market Driver:
    • Increased consumer spending on home renovation and household furnishing:

Consumers are increasingly witnessing changes in preferences toward aesthetic household furnishing resulting in the rising number of home renovations. Consumers are providing aesthetic and modern looks to their homes. Furthermore, factors such as the rise in consumer spending levels, modern lifestyles, and increased smartphone penetration. In addition, growing number of working women across the globe has proliferated online shopping and e-retailing of home textiles, thus, contributing to the market growth.

  • Market Trend:
    • Growing demand for eco-friendly and green furnishings:
  • There has been a surge in the environmental concerns across the globe resulting in the rising demand for eco-friendly home furnishings including home textiles. Eco-friendly home textiles are manufactured using fibers sourced from plants that are grown without pesticides, chemicals, and fertilizers. In addition, market players are offering a wide range of aesthetic furniture made of bamboo, which is renewable within a few years. The rising demand for green furnishings will further accelerate the growth of the market.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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Home Textile Retail Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2021-2025

USD  52.43 billion

Market structure

Fragmented

YoY growth (%)

4.72

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, China, India, Germany, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Amazon.com Inc., Ashley Furniture Industries Inc., Bed Bath and Beyond Inc., Inter IKEA Holding BV, Restoration Hardware Inc., Steinhoff International Holdings NV, Tesco Plc, The Home Depot Inc., and Wayfair Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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