US dominates global home textiles market
The US is the world’s largest home textile market. The US market is projected to grow at CAGR of three per cent by 2020. The country’s import of home textiles and made-ups grew at a robust 7.7 per cent during January-May 2018. Import of made-ups and home textiles of manmade fibers grew 10 per cent. Cotton made-ups and home textile imports grew 1.6 per cent. Europe is the second largest home textile market. India is the third largest home textiles market in the Asia Pacific region, projected to grow at a CAGR of 7.2 per cent by 2020.
This market includes bed linen, towels, curtains, blankets, upholstery, kitchen linen, and rugs and carpets. In the global home textile market, bed linen has a 45 per cent share while bath linen constitutes 20 per cent. Other segments such as floor coverings, furnishings, table and kitchen linen make up 35 per cent of the home textile market. The bed linen and bedspreads segment is expected to grow at a CAGR of 4.4 per cent by 2020.
Asia Pacific, accounting for 44 per cent of the market, remains the most dominant producer and consumer of home textiles. Here, China is the largest manufacturer and consumer of home textiles.