Market Trends of China Home Textiles Industry
This section covers the major market trends shaping the China Home Textiles Market according to our research experts:
High Exports Has Helped the Market to Record More Revenues
The increasing export quantities owing to the high demand for the products in the US and several other markets have helped the China home textile market to record more revenues during the study period. However, due to the pandemic, the total export value recorded a drop in revenue during 2020 and has brought severe challenges to the export segment of the China home textile industry. According to customs statistics, in 2020, China's textile product exports totaled USD 37.2 billion, a year-on-year decrease of 6.43%. Exports to North America and Oceania recorded growth rates of 2.11% and 8.35% respectively, whereas exports to Asia and South America fell sharply, -10.70% and -12.93% respectively during 2020.
Growing Bed Linen and Bed Spread Segment
Bed linen and bedspread segments have been recording more revenues owing to the growing demand for the products in the market. According to the official statistics, in the market studied, more than 960 bedding enterprises have achieved operating income of CNY 97.022 billion during 2020 which resulted in increased profits for the year. Similarly, the export value of bedding valued at USD 12.8 billion, down 2.44% year-on-year, and the export value of towels and blankets dropped significantly, -13.77% and -12.44% respectively. owing to the COVID-19 pandemic and tension between the US and China trade. However, the carpets and kitchen textiles segments rose against the downtrend in 2020. The market showed signs of recovery in the first half of 2021, which is anticipated to continue for the rest of the forecast period as the situation started to get to normal from the pandemic effect.
