By Infinium Global Research Aug, 2020
The Global Textiles Home Décor Market is expected to grow at a CAGR of 6.62% between 2019 and 2025 in terms of value. The growing real estate and furniture industries are the major drivers for the textile home décor market. A large number of people are building and buying homes and also buying furniture and accessories to décorate houses. Moreover, improving the living standards of the people due to increasing disposable income is expanding the growth of the textile home décor market. As living standards increase, people tend to buy more luxurious and fancy objects. Furthermore, growing urbanization in developing countries including China, India, and Korea are contributing to the growth of the textiles home décor market. Additionally, improving the economic conditions of the population in developing countries has augmented the growth of the textiles home décor market. However, the increasing cost of raw materials is the major restraining factor for the growth of the textiles home décor market. Nevertheless, the growing demand for bed linen is anticipated to offer favorable opportunities to the players in the market.
Regionally, North America generated the highest revenue in the textiles home décor market, dominating the global market. The dominance of the North American market attributed to the high disposable income of individuals and widespread urbanization. Moreover, the better standards of living of the people and the availability of the products boost the growth of the textile home décor market in this region. Whereas, Asia-Pacific is expected to register the fastest growth in the global textile home décor market owing to the improved distribution network.