increased consumer spending on household decor and furnishing is driving the Home Textiles Market in US
Technavio analyzes that the Home Textiles Market in US is expected to grow at a CAGR of 5.17% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 6.31 billion.There are various factors that contribute to the growth of the market. The home textiles market in the US has experienced significant growth due to increased consumer spending on household decor and furnishings. This trend is driven by a growing focus on creating comfortable and aesthetically pleasing living spaces. Homeowners and renters alike are investing in high-quality bedding, towels, curtains, and other textile products to enhance their homes. This shift in consumer behavior is expected to continue, making the home textiles market a promising sector for businesses.
In the US market, non-woven and woven home textile products, including carpets, rugs, curtains, cushion covers, napkins, towels, bedspreads, and upholstery, are primarily sold through offline distribution channels. These channels consist of various retail formats such as specialty stores, hypermarkets, department stores, convenience stores, supermarkets, and warehouse clubs. Home textile offerings in the US encompass diverse sizes, styles, designs, colors, and brands. A notable trend in the home textiles sector is the increasing demand for personalized products, fueled by customers' desire for unique and customized items. These retail formats significantly contribute to the expansion of the US home textiles market.
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Home Textiles Market in US Segmentation
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The Home Textiles Market in the US encompasses a wide range of textile products designed for decorating and furnishing homes. These functional and aesthetic items include various styles and colors in natural and artificial fibers such as cotton, silk, wool, linen, polyester, nylon, rayon, and more. Weaving, knitting, and crocheting techniques are used to create carpets, rugs, curtains, cushion covers, napkins, towels, bedspreads, upholstery, and table linen.
The home textiles market in the US is a segment of the larger global textiles market, encompassing textile products utilized for decorative, functional, and aesthetic purposes within residential spaces. This market category falls under the broader global textiles market, which includes various textile product applications, such as fashion, technical, home furnishings, and others, excluding apparel, accessories, luxury goods, and footwear. Technavio, a leading market research firm, calculates the size of the global textiles, apparel, and luxury goods market based on the consolidated revenues generated by manufacturers of these product categories. Key growth drivers for the global textiles market include the expanding demand for geotextiles, which will significantly impact the home textiles market in the US throughout the forecast period.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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