Bed & Bath Furnishings: A Global Strategic Business Report
San Jose, CA (PRWEB) April 30, 2012
For several years, bed and bath accessories such as blankets, towels, and sheets are being used as basic household requirements. However, the increasing zeal towards home decoration is driving consumers towards the purchase of new, attractive, and embellished products. Presently, sophisticated processing facilities, with advanced equipment, are helping textile manufacturers to produce different varieties of bed and bath furnishing products, which suit the numerous personal tastes and preferences of individuals. Subsequently, stylish, fashionable products in attractive colors and embellished designs continue to be the hot products in the global bed and bath furnishings market.
Despite reeling under the pressure of global economic meltdown, the bed and bath furnishing market managed to stage a partial come back in 2010. However, going forward it is estimated that the marketplace would continue to feel the pressure of heavy discounts, which could erode the profit margins of manufacturers in the short term. Price, followed by the material and color, is the major purchasing factor in the bedding industry. Women constitute the major chunk of buyers in the market. Departmental stores comprise the key distribution channel. However, with the rapid proliferation of the Internet, online channels are also gathering steam in the market. In the towels segment, highly soft and more absorbable products are gaining increased market interests among consumers. Apart from these, stylish and attractive towels in eye appealing colors and embellished designs are the other premier products sold. Manufacturers are producing new varieties of products, based on the trends that influence individuals’ lifestyles. Different varieties of towels in new styles, blended with attractive performance benefits, are being developed, owing to the consumer’s interest towards the products. Terry towels are the highly sold products due to their surface texture, and their prominent availability in different sizes. Color also plays a significant role while purchasing towels as it represents the personality and confidence of the individual. Muted, classic, and bright colors – all are gathering equal importance among different segments of the population.
Europe, trailed by the US represent two of the largest regional markets worldwide, as stated by the new market research report on Bed & Bath Furnishings. The US market is ruled by the customers’ passion for interior decoration, fashion, and stylish products. The increasing zeal towards home decoration is driving consumers towards the purchase of new, attractive, and embellished products. On the other hand, the European household and furnishing textiles segment is a large replacement market, wherein very often old and worn out products are replaced with new products. The market largely depends on the economic conditions of the country. Wholesalers, discounters, and variety stores are among the major distribution channels in Europe.
With respect to the overall growth potential, Asia-Pacific spurred by rising demand and income levels in markets, such as China, India, Hong Kong, Pakistan, New Zealand, and others is forecast to expand at the highest CAGR through 2017. Major regions, such as China, India, and Pakistan are more focused on developing their product offerings and exploring new markets. Manufacturers in China, in particular, are looking for new markets owing to import restrictions from the European Union (EU). India is amongst the largest producers of home textiles in the world. Terry towels and bed sheets, exclusively made of cotton, are the fastest growing segments in the Indian home textiles segment.
Bed Furnishings occupy an important position as the relatively larger market, capturing a majority share in the developed regions, including the US and Europe. The segment is also expected to outpace the Bath furnishings market in terms of demand and growth rate through 2017.
Major market participants profiled in the report include Hollander Home Fashions Corp., Louisville Bedding Company, Sunvim HomeTextiles Co. Ltd., Huaxe Hometex Limited, Tempur-Pedic International Inc., Trident Group, and Welspun India Ltd. among others.
The research report titled “Bed & Bath Furnishings: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product innovations, recent industry activity, product overview and profiles market players across the globe. Analysis and overview is provided for major geographic markets, including the US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America, and the rest of the world. Market analytics are provided in terms of US$ (value) for product segments, including Bed Furnishings and Bath Furnishings. The study also presents historic data for an insight into market evolution over the period 2003 through 2008.
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