Home Textiles is emerging as a major growth driver for the Indian Textile industry. The domestic Home Textiles market is estimated at `15,570 crore in 2009 and expected to reach about ` 40,800 crore by2021 growing @ 8% CAGR. The main drivers of domestic growth are increasing population, increasing income levels, rapid urbanization, improving demographics, increased organized players and increasing penetration of retailers into smaller cities.
The Home Textile manufacturers, with an eye for innovation, have successfully explored the traditional textiles and shaped them into sophisticated end-products. These products not only suit the trendy market but also have helped in reviving the dying traditional crafts. World over, Home Textiles have always played an important role in the comfort, protection and decoration of households.
The global Home Textiles market is around US$ 35 bn, amounting to about 5% of the total global Textile market. The global Home Textiles market is primarily dominated by the US and Europe, both accounting for over 70% of the market size.