Global demand for home textile products, such as bed sheets, linen, curtains, and towels, skyrocketed during the pandemic. However, this demand returned to normal levels in the following year but has since seen a steep fall in Europe due to various factors.
According to Fibre2Fashion's market insight tool TexPro, home textile imports in Europe more than doubled in 2020, reaching $61.101 billion, up from $30.200 billion in 2019. The demand for home textiles spiked the following year. After that, the trade normalised, coming down to $40.282 billion in 2021 but still above the 2019 import levels.
The Russia-Ukraine war not only severely affected the supply of crude oil and other commodities but also industrial activities. Higher costs for crude oil, natural gas, and other commodities inflated the prices of various products and services, increasing inflation and leaving little disposable income for general consumers. Therefore, discretionary spending, especially on garments and other textile products, was severely affected.
Home textile imports in Europe further decreased to $33.581 billion in 2022 and $28.885 billion in 2023. Therefore, the inbound shipments fell more than 50 per cent from the peak imports of $61.101 billion in 2020 and also declined from the pre-COVID import levels of 2019, as per TexPro.
Fibre2Fashion News Desk (KUL)