Home textile retail market to increase by US $ 52.43 billion by 2025, says Technavio report

According to a latest report by Technavio, home textile retail market value is expected to increase by US $ 52.43 billion between 2020 and 2025.

The report says the market observed a Y-o-Y growth of 4.72 per cent in 2021 and growth momentum is projected to accelerate at a CAGR of 6 per cent during the forecast period.

Factors such as increased consumer spending on home renovation and household furnishing, the growing construction industry globally, and innovation and portfolio extension leading to premiumisation will drive the growth of the global home textile retail market.

Of all markets, APAC is projected to grow at 35 per cent in the review period and the countries such as China and India will tap significant growth in their home textile retail market.

However, the report predicts, the volatility of raw material prices might hamper market growth.