The worldwide market for home textiles is expected to grow at a CAGR of 3.1 per cent over the next five years. Home textile is a flexible woven material consisting of a network of natural or artificial fibers often referred to as thread or yarn. Home textiles include terry towels, bed sheets, curtains, pillows cases, rugs, carpets etc used for home furnishings. Bedding is the largest segment of home textiles with a production value market share of 38 per cent.
Developing economies such as China and India are major home textile exporters while the US and Europe are major importers of home textiles. China is the largest supplier of home textiles, with a production value market share of nearly 29 per cent and sales revenue market share of nearly 23 per cent. North America has a production value market share of 20 per cent and sales revenue market share of 30 per cent. Europe enjoys a 16 per cent production value market share and 28 per cent sales revenue market share.
In the next few years, the home textile industry will be a steady energetic industry. It presents a lot of opportunities and there will more companies entering this industry, especially in developing countries.