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Home textiles, a major segment of overall textile industry, offers a wide range of categories such as furnishing fabrics, curtains, carpets, table covers, kitchen accessories, made-ups, bedspreads, bath linen, and other home furnishings. The US and Europe are the biggest consumers constituting 60% of the home textiles imports, while nations like India, China and Pakistan are among key suppliers. Carpets form the largest sub-segment in home textiles followed by bed-linen.

Maintaining a share of 6% globally…

In 2016, global textile and apparel trade stood at US$ 743 billion, while share of other categories such as fibre, yarn, fabric has decreased, home textiles has maintained its share of 6% over the past 5 years.

In 2016, the global home textiles trade was at US$ 47 billion and it has been growing at a CAGR of 0.2% since the year 2012. Carpets were the top traded category at US$ 14 billion. While table linen, furnishing and carpets have been growing at a negative CAGR of 5%, 2% and 1% respectively, bath/ kitchen linen has shown the maximum positive CAGR of 3% and an increase in share of 1% too.

Growing Exports to Markets…

Table 3: Share of top home textiles markets (2016)

Country

US$ Mn.

CAGR (‘12-‘16)

Share

EU-28

17,195

1%

36%

USA

11,252

4%

24%

Japan

2,311

-6%

5%

Canada

1,556

-1%

3%

Australia

1,153

1%

2%

UAE

1,000

1%

2%

Saudi Arabia

828

-4%

2%

Russia

764

-18%

2%

India

526

8%

1%

Thailand

512

22%

1%

R.O.W

10,150

 

21%

Total

47,248

0.2%

 

The top 10 importing nations contribute to approx. 80% of the home textiles market. EU-28 is the largest market for home textiles with a share of 36% and import value of US$ 17 bn. This is followed by USA with import value of US$ 11 bn. and a share of 24%. Japan, Canada, Australia, UAE, Saudi Arabia, Russia, India and Thailand constitute the top markets for global home textiles.

Thailand has emerged as a market for home textiles in the last five years with a CAGR of 22% but at a small base value. Japan being third largest market for home textile is declining with a CAGR of 6% over a period of 5 years due to economic downturn and demographic issues. Russia facing the similar issues has shown a downfall 18% thus losing ranks in the list of major markets but is expecting some growth going forward.

 

Thriving Asian Suppliers…

Table 4: Share of top home textiles suppliers (2016)

Country

US$ Mn.

CAGR (‘12-‘16)

Share

China

18,303

0.2%

39%

India

5,027

3.7%

11%

Turkey

3,398

-0.4%

7%

Pakistan

3,267

3.6%

7%

Belgium

2,178

-2.0%

5%

Germany

1,666

-1.7%

4%

Netherlands

1,489

1.1%

3%

USA

1,370

-2.5%

3%

Portugal

721

1.6%

2%

Poland

698

4.6%

1%

R.O.W

9,129

 

19%

Total

47,248

0.2%

 

         

The top 10 suppliers -China, India, Turkey, Pakistan, Belgium, Germany, Netherlands, USA, Portugal and Poland- have 80% share in world’s major suppliers. China has the maximum share at 39% with US$ 18 bn. followed by India at 11% with US$ 5 bn.

Poland has emerged as a supplier for home textiles in the last five years with a CAGR of 4.6% but at a small base value. India with growth rate of 4%, has increased its world share from 9% to 11% in the past 5 years. China has remained almost stagnant with a CAGR of 0.2%, while countries such as USA, Belgium and Germany have a negative growth rate.

The Booming Indian Trade…

India is widely perceived and acknowledged for its variety and exquisite designs in home textiles. The current Indian home textiles market is in a sweet spot as India’s share in the global exports continues to increase, furthering penetration into major markets. India is not only one of the biggest supplier but also one of the largest consumer of home textiles. Major players such as Welspun India (third largest towel producer), Trident (largest terry towel producer) and Dicitex (Fifth largest furnishing fabrics producer) are based in India.  These companies cater to both international and domestic market.

Indian Markets and Future Growth Opportunities…

Table 5: India's major markets for home textiles (2016)

Country

US$ Mn.

CAGR (‘12-16)

Share

USA

2,786

5%

55%

EU-28

1,252

2%

25%

UAE

183

13%

4%

Australia

144

1%

3%

Canada

128

6%

3%

Japan

56

-2%

1%

South Africa

44

-5%

1%

Chile

33

8%

1%

China

33

14%

1%

Saudi Arabia

32

-4%

1%

R.O.W

337

 

7%

Total

5,027

4%

 

Home textiles exports from India have been expanding in major markets including USA and EU-28. Out of the total US imports, 25% are from India. A major growth trend is visible in UAE with a CAGR of 13% from 2012.

China is increasingly importing home textiles from India especially curtains (18%), blankets (18%), carpets (16%) and bed linen (17%). Similarly, UAE has also emerged as a significant market for Indian home textiles with carpets having a 58% share. This may be attributed to the traditional carpet weaving industry in India that has a niche in manufacturing carpets and furnishing.

Source: UN Comtrade

There has been a structural shift in the dynamics of the global home textiles trade as Indian companies have gained advantage over the Chinese counterparts. Indian companies have become competitive in the home textile exports market, leveraging the gap created by the rising labour cost in China and availability of raw material. Also, Indian organizations are cost competitive due to economies of scale, world class manufacturing facilities, product innovation and quality.

 

 

Figure 4: Commodity wise opportunities for Indian companies

Trends Driving the Future Growth Globally...

Soaring demand for household products and growing consumer awareness have made home textiles a lucrative business segment in the global textile industry. Various growth drivers are pushing this demand to an all-time high.

One of the major factors driving growth is flourishing home textiles market in the Asian economies such as China, India, Thailand, etc. Though the major consumer base still exists in USA and European markets but an increasing trend of household purchases is also visible in these Asian economies due to a flourishing housing market and rapidly growing middle class.

Secondly, fashion sensitivity towards household furnishing has increased as fast-fashion has hit not only the apparel market but the home market as well.  Home fashion has become a separate segment as consumer consciousness towards high quality living has increased.

To cater to the increased demand, the number of retailers entering the home textiles market is also increasing. From IKEA to H&M Home, big brands are entering the thriving market to tap the big opportunity and take advantage of the prevailing environment.

Moreover, the advent of E-commerce in the segment is further making the market even more competitive and with the increasing number of websites, the marketplace is also experiencing growth.

Fuelling the market growth, research and development in the home textiles segment has been immense. Modern lifestyle involves a lot of stress and sleep deprivation and thus, innovation in sleep technology and finishes such as microbial, anti-mist, herbal, etc. are the future of home textiles.

It can be readily said that going forward, the home textiles trade will grow at a rate of 6%. Further, the home textiles segment has become increasingly competitive and only cost driven organizations delivering product quality and customer satisfaction can survive in this cost-driven market scenario.

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