High urbanization rate, increasing disposable income, and improving lifestyle are important factors spurring the market growth in the region.
The Home Textile Market is anticipated to grow at an increased rate due to the growth of the end-use sectors such as hospitality, healthcare, and housing, growing fashion sensitivity of urban consumers towards home furnishings, growing demand of digitally printed home textiles and rapidly mounting fashion trends in home textiles.
The retail market of home textiles has emerged as one of the lucrative options for many retailers in the market. In Brazil, textile production is one of the sectors that have the highest expectation of a growing trend in 2019. According to data from the Brazilian Association of Textile and Clothing Industry (Abit), after a fall of 2% in 2018, the sector not only will recover in 2019 as well as grow by 3%. This would certainly help the home textiles market to grow significantly in 2019.
Key Market Trends
Bed Linen Segment is Holding the Large Market Share
Bed Linen is the leading and the largest category in the home textiles market in Latin America with naturally found raw materials extensively being used to manufacture numerous designs and patterns in the bedsheets and bedspreads used across the region. Cotton remains the primary material for making bed and bath textiles in the region. However, very recently there has been a growing demand for linen with eco-friendly materials. Demand for home textiles that have unique and superior home textiles such as stain repellent, quick-drying or wrinkle-free is increasing in the region. Traditional blankets and bedsheets ate replaced by duvets and duvet covers that are washable are highly preferred by the consumers in the market.
Online Distribution Channel is Expected to Register the Highest Growth
Leading urbanization is also anticipated to lead to the use of e-commerce in the buying of home textiles in the market as more people get urbanized, they tend to use more technology. With an aim to reach out to a wide consumer base, companies are tying up with online retailers, as well as introducing their own e-portals. For instance, Alibaba had tied up with the five leading home textile companies. In another instance, Tmall.com tied up with Fauna, Mendale, Luolai, Shuixing, and Beyond. Welspun India launched an online portal a few years back, which covers a variety of beds, baths, and carpet products.
Competitive Landscape
The Latin America Home Textiles market is competitive in nature. At the outset, the market seems to be highly fragmented with a mix of both large as well as smaller companies operating across various parts of the region. There are numerous local and international players that either manufacture, trade or distribute the home textile market in the region. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Methodology
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