As per the current market research conducted by the CMI Team, the US Home Textile Market size is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 44,308.2 Million. By 2033, the valuation is anticipated to reach USD 70,658.6 Million.
US Home Textile Market: Growth Factors and Dynamics
- Rising Homeownership Rates: The steady increase in homeownership rates in the US has fueled demand for home textile products. As more individuals and families invest in residential properties, there’s a corresponding need for bedding, bath linens, curtains, and other home textile essentials.
- E-commerce Boom: The booming e-commerce sector has significantly impacted the US home textile market. Consumers increasingly prefer the convenience of shopping online for home goods, leading to a surge in online sales of bedding, towels, and other home textile products.
- Focus on Sustainability: Growing environmental awareness among US consumers has led to a shift towards eco-friendly home textiles. Companies are responding by offering organic cotton, bamboo, and other sustainable materials, appealing to environmentally conscious consumers.
- Innovations in Technology: Technological advancements have transformed the home textile market in the US, with the introduction of smart textiles and bedding. Products embedded with sensors for temperature regulation, sleep monitoring, and other features cater to the demand for high-tech solutions in home comfort.
- Changing Consumer Lifestyles: Evolving lifestyle trends, such as the desire for minimalist décor and luxury bedding experiences, influence the US home textile market. Consumers seek products that reflect their individual style preferences and offer enhanced comfort and functionality.
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US Home Textile Market: Partnership and Acquisitions
- In 2022, Mohawk Industries agreed to acquire the Vitromex ceramic tile business from Grupo Industrial Saltillo for about $293 million in cash. The transaction, subject to approvals, is anticipated to enhance Mohawk’s earnings and is slated to conclude in the second half of 2022.
- In 2022, Milan-based textile firm Gruppo Piacenza SpA acquired Arte Tessile Snc, a specialist in patternmaking for jacquard and raschel textiles. These textiles find extensive use in the production of net curtains, table covers, and outerwear garments, expanding Gruppo Piacenza’s product portfolio and capabilities.
US Home Textile Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the US Home Textile Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: The COVID-19 pandemic disrupted global supply chains, leading to shortages of raw materials and production delays for home textile manufacturers in the US This resulted in inventory challenges and increased lead times for retailers and consumers.
- Shift in Consumer Spending: Economic uncertainty and lockdown measures during the pandemic prompted changes in consumer spending habits. While demand for essential home textile products like bedding and towels remained stable, purchases of non-essential items such as decorative pillows and curtains declined as consumers prioritized essential purchases.
- Pent-up Demand Release: As vaccination rates increase and restrictions ease, pent-up demand for home textile products is expected to be released, driving a rebound in sales as consumers resume postponed purchases and home improvement projects.
- E-commerce Growth: The accelerated shift towards online shopping during the pandemic is likely to continue, with e-commerce channels playing a vital role in the recovery of the home textile market. Retailers will invest in enhancing their online presence and improving the digital shopping experience to capitalize on this trend.
- Product Innovation: Manufacturers will focus on product innovation to meet evolving consumer preferences post-pandemic. This may include the development of antimicrobial textiles, sustainable materials, and smart home textile products that promote health, wellness, and convenience.
- Promotional Strategies: To stimulate demand, retailers may implement promotional strategies such as discounts, bundle deals, and limited-time offers to incentivize consumers to make home textile purchases.
List of the prominent players in the US Home Textile Market:
- WestPoint Home
- Springs Global
- Mohawk Industries
- American Textile Company
- Welspun USA
- Trident Group
- Berkshire Hathaway
- Hollander Sleep Products
- Tempur Sealy International
- Surya Inc.
- Pacific Coast Feather Company
- Karastan
- Frette
- Coyuchi
- Garnet Hill
- Others
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