PUBLISHER: Grand View Research | PRODUCT CODE: 1405815
PUBLISHER: Grand View Research | PRODUCT CODE: 1405815
The U.S. & Europe bed linen and curtains market size is expected to reach USD 43.72 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing real estate market and rising living standards have led to increased spending on interior design and home decor. This is expected to be one of the main forces for market growth in the near future.
Although there is immense growth observed in the home textile market in the U.S. and Europe, the importance of physical stores is also recognized by various retailers. These brick-and-mortar stores ensure an immersive customer experience, and brand engagement, and aid in building a long-lasting relationship. Many retailers are expanding their geographical presence in January 2023, HomeGoods, which offers bath & bedding textiles, rugs, kitchenware, decorative lighting, gourmet foods, lighting, and many more, opened three retail stores in Florida, Virginia, and Utah.
Technological innovations in raw materials, such as REStech Cotton technology, are widely preferred for home textile production in the U.S. and Europe. Its fiber content is crafted from 100% natural cotton fibers, which are both recyclable and biodegradable. According to the 2023 Home Textile Survey, 6 out of 10 consumers prefer to know the fiber content of home textile products such as blankets (63%), sheets (66%), bedding (60%), and towels (55%).
The increasing age of constructed houses also promotes the need for interior decoration, propelling the demand for new stylized bed linens, mattress coverings, furniture fabric, and curtains, thereby driving the growth of the market. According to the Harvard Joint Center for Housing Studies, 80% of the 137 million homes in the U.S. were 20 years old, while 40% were 50 years old as of 2019. This is further driving consumer spending on home furnishings to revamp their houses, favoring the adoption of bed linen and curtains among consumers.
Millennials are increasingly inclined to purchase homes, especially older ones that need more maintenance. Millennials are investing in more home renovation projects annually than people in other age groups, according to HomeAdvisor. According to the National Association of Realtors, millennials are leading in terms of a number of home improvement projects and the spending amount. This can be attributed to the rise in family formation, leading to increased home purchases and subsequent demand for bed linen and curtains in the U.S. and Europe.
Patterns are making a comeback in the bed linen and curtains market. Floral prints, geometric designs, and intricate motifs are incorporated into comforters, duvets, throw blankets, and quilts, offering consumers a wider range of decorative options in home textiles. In July 2023, U.S.-based company Brooklinen introduced a new linen collection featuring earthy tones and subtle stripes to cater to the demand for prints and patterns. The bedding brand added five natural hues to its line, offering a blend of comfort and style.