Global Bed and Bath Furnishings Market to Reach US.8 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

San Jose, CA (Vocus/PRWEB) January 04, 2011

Bed and bath furnishings/accessories have always been an integral part of basic household requirements. However, the increasing zeal for home decoration is driving consumers towards the purchase of new, attractive, and unique products. Stylish, fashionable accessories and furnishings in vibrant colors and embellished designs are the hot products in the global bed & bath furnishings market. Home textiles play a vital role in interior decoration, be it homes, hotels or even hospitals. Sophisticated processing facilities with advanced equipments are helping textile manufacturers to produce different varieties of bed and bath furnishing products, striving to cater to the personal preferences of individuals. Price, followed by material and color, is the major purchasing component in the bedding industry. Selection of color mainly depends on individual choice and taste, with women generally taking the lead as main decision makers. China, India, Pakistan, and Bangladesh are among the major suppliers of bed linen to the EU, while Pakistan continued to increase its strong foothold in the home textile market of the United States in 2009. The region spurred by elimination of export quotas, was among the leading exporters of printed cotton bed sheets and towels to the US during the year.

Demand for high-end, premium beds made of latex, memory foam, flex, silk, lamb’s wool, cashmere, and hand-tufted horsehair is expected to show a northward trend over the next few years, owing to changing perception of consumers. The shift is expected to be more evident in the financially comfortable baby boomers demographic segment, where rest and relaxation remains the primary priority. The trend would be further intensified by their willingness to pay extra bucks to get that much needed comfort and luxury. As a result, manufacturers and suppliers are all gearing up to provide premium, comfortable, and ultra-luxury beds and mattresses to cash in on the opportunity. Stylish and attractive towels in appeasing colors and embellished designs are in high demand in the market.

The global recession fueled by the sub-prime crisis in the US housing market dampened consumer confidence, impacting retail spending on the home furnishings market. High rates of unemployment and job insecurity due to the economic slowdown softened the demand for home furnishings. Majority of the purchases in the home furnishings market are made for the purpose of replacements, and were either postponed or cancelled during the period 2008 & 2009. After witnessing constant growth during early and mid-2000’s, sales in the global bed and bath furnishings market slumped by nearly 4% in 2008, followed by a further contraction of 11% in 2009. However, the market witnessed a marginal recovery in 2010, with growth levels registering a small increase. The slow growth is slated to continue over the near term, attributed to the over cautious spending pattern of the consumers on non-essential products. Further, heavy discounts at throwaway prices in a bid to attract buyers have deeply eroded the profit margins of most retailers, and it will take few years before the pre-crisis growth levels can be achieved.

Europe, trailed by the US represent two of the largest regional markets worldwide, as stated by the new market research report on Bed and Bath Furnishings. With respect to 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 2015.

Bed Furnishings occupies an important position as the relatively larger market, capturing a majority share in 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 2015.

Major market participants profiled in the report include Hollander Home Fashions Corp., Huaxe Hometex Limited, Louisville Bedding Company, Sunvim HomeTextiles Co. Ltd., Tempur-Pedic International Inc., Trident Group, and Welspun India Ltd.

The research report titled “Bed and 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 Rest of 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 2000 through 2006.

For more details about this comprehensive market research report, please visit –

http://www.strategyr.com/Bed_and_Bath_Furnishings_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

# # #

Attachments

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Find More Reputation Crisis Press Releases