Global Home Textiles and Furnishings Market
Home textiles and furniture sector accounts for a large part of the entire textile industry. The department offers a big range of bedspreads, cushions, furniture fabrics, carpets, cushion covers, bath towels, Velvet Fabric and other home accessories. In the past five years, consumption of home textiles and furniture has continued to grow, mainly due to higher consumer spending on home, faster investment in infrastructure, and demands from Asian markets such as India and Korea. Product innovation and development let retailers enable to use new technologies and marketing tools to broaden the market.
The United States and Europe as the largest consumer-oriented home market, while India, China and Pakistan,etc. are the major suppliers. Curtains constitute the largest sub-part of home textiles. The main fabrics include cotton, silk, organic cotton, polypropylene, natural fibers such as viscose silk.
Furniture retail sales are expected to remain relatively stable in the next few years. The economic recovery is hoped to decrease unemployment, promote GDP growth and expand the housing market, which will promote the sale of furniture products.
Moreover, emergence of E-commerce in home furnishings market is scaling new heights, and with increasing number shopping websites the market is also experiencing growth. Key issues in the market include rising raw material prices, strict legislative requirements and high competition.
In addition, the emergence of e-commerce in the home decoration market is expanding rapidly, and with more and more shopping sites, the market is also meeting with growth. Key issues about the market is the higher and higher prices of raw material.