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Textile home décor market to expand from 2018 to 2027: TMR

24
Mar '20
Pic: Shutterstock
Pic: Shutterstock
The global textile home décor market will register a splendid expansion between 2018 and 2027, with global sales projected to bring in revenues worth over $ 185,000 million by 2027 end, according to a recent research report by Transparency Market Research (TMR). Prevailing consumer confidence and broader economic trends directly impact demand for such textiles.

Demand for bed linen is expected to rise at a brisk pace across the globe, driven by a steady stream of opportunities emerging in both developing and developed markets, the report said.

Sensing profitability of bed linen, key manufacturers are concentrating on consolidating their market position. A key challenge for stakeholders in this segment is the highly fragmented presence of unorganised players, a TMR press release said citing the report.

The market has witnessed proliferation of a number of start-ups, with key trends being online crowd-sourcing and affordable outsourcing. Online provisions of style boards and design ideas, and hiring designers at affordable costs have turned convenient. These trends are primarily driven by marketplace attributes like new online business models, price transparency and standardisation, the report found.

Several entrepreneurs, aware of challenges involved in product marketing, are tailoring their merchandizing strategies to organise their products on the basis of theme, instead of category. The global market for such textiles involves a long supply chain, which in turn adds to cost of the final product. Therefore, companies are focusing on remodelling the supply chain and trimming the price tags, by working directly with manufacturers, said TMR.

To counter the challenges from the unorganised sector, leading players are focusing on offering entry-level bed linens that are priced attractively, the report added.

Fibre2Fashion News Desk (DS)


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