Global home textiles market to grow at 3.51% to reach $151 bn by 2025

According to Fibre2Fashion’s market insight tool TexPro, global market size of home textiles was recorded at $110 billion in 2016. It grew to $127.758 billion in 2020 and $132.358 billion in 2021. The market is expected to grow to $136.990 billion in 2022, $141.648 billion in 2023, $146.606 billion in 2024 and $151.825 billion in 2025. The market is likely to have average annual growth rate of 3.51 per cent between 2020-2025.

China will maintain its dominant position in the global home textiles market. Chinese textile market was $27.907 billion in 2016, which grew to $36.056 billion in 2020, and $38.292 billion in 2021. The market will grow to $40.581 billion in 2022, $42.928 billion in 2023, $45.411 billion in 2024 and $48.036 billion in 2025. The market is likely to have an average annual growth rate of 5.90 per cent between 2020-2025, as per TexPro.

US market of home textiles will grow at 2.06 per cent annually between 2020-2025. Home textiles market was $24.064 billion in 2016, which grew to $26.698 billion in 2020 and $27.287 billion in 2021. The market will grow to $27.841 billion in 2022, $28.386 billion in 2023, $28.958 billion in 2024 and $29.566 billion in 2025. Rest of Europe (other than Germany, France, UK and Italy) can witness annual growth of 1.12 per cent to reach $11.706 billion in 2025. The market was $10.459 billion in 2016 and $11.198 billion in 2021.

India will surpass Rest of Asia-Pacific (other than Russia, China and Japan) in 2024 when India’s textile market will grow to $9.835 billion while Rest of Asia Pacific will reach $9. 667 billion. Indian market will reach $10.626 billion in 2025 with annual growth of 8.18 per cent in during the five years. India’s growth rate will be highest in the world. In 2016, the market size was $5.203 billion in India and $6.622 billion in Rest of Asia Pacific region.

Fibre2Fashion News Desk (KUL)