Global Home Textile Retail Market 2020-2024 | 7% CAGR Projection Through 2023 | Technavio
LONDON--(BUSINESS WIRE)--Jan 9, 2020--
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
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Technavio has announced its latest market research report titled global home textile retail market 2020-2024. (Graphic: Business Wire)
Prominent vendors are leveraging 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 has significantly increased the sale of home textile retail products. These development together with the increasing number of internet users in developing countries is expected to accelerate the growth of the global home textile retail market 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 important 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 the climate and the effects of toxic finishes on the air inside homes. This is prompting many furniture manufacturers to go green. For instance, several vendors are introducing home textiles made from fibers sourced from plants that are grown without the use of pesticides, chemicals, and fertilizers. Vendors are also using different trademarks and eco-labels that are issued under 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.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: RETAIL HOME GOODS TEXTILES MANUFACTURING
SOURCE: Technavio Research
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PUB: 01/09/2020 01:00 PM/DISC: 01/09/2020 01:01 PM