Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the home textile retail market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

• What are the major trends in the market? Innovation and portfolio extension leading to premiumization is a major trend driving the growth of the market.
  

• At what rate is the market projected to grow? The market will accelerate at a CAGR of almost 5% and the incremental growth of the market is anticipated to be $ 44.07 bn.
  

• Who are the top players in the market? Amazon.com Inc., Ashley Furniture Industries Inc., Bed Bath & Beyond Inc., Costco Wholesale Corp., Home Depot Product Authority LLC, Inter IKEA Systems BV, Restoration Hardware Inc., Steinhoff International Holdings NV, Tesco Plc, and Wayfair Inc., are some of the major market participants.
  

• What is the key market driver? The distribution channel expansion strategy by vendors is one of the major factors driving the market.
  

• How big is the APAC market? The APAC region will contribute to 32% of the market share.
  

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