North America & Europe Luxury Interior Fabric Market Size, Share & Trends Analysis Report 2021 - 2028
North America & Europe Luxury Interior Fabric Industry Overview
The North America & Europe luxury interior fabric market size is expected to reach USD 2.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.9% from 2021 to 2028. Rising awareness about the benefits and comfort offered by these stylish interior fabrics is boosting the market growth. As lifestyles are changing, consumers are inclined towards good quality, comfortable, and visually attractive interior fabrics.
With the expansion of real estate, the market is bound to witness growth in the interiors industry, which is likely to propel the demand for the fabric in the segment. In accordance with the index specialist, the value of property owned for the purpose of achieving investment returns reached USD 9.8 trillion in 2019, 7.8% more than in 2018. The rising demand for new houses owing to the growing population is also expected to boost the market growth in the foreseeable future.
The number of single-family permits in the U.S. increased by 8.4% in 2018, from the previous year, according to the National Association of Home Builders. Thus, developments in the domestic category are projected to drive the demand for luxury interiors, thereby pushing the market growth. Changing trends in home furnishing are also expected to boost the market growth. Consumers are seeking attractive statement interior pieces that can stand on their own in their minimalistic-decorated homes. Moreover, rising environmental consciousness among consumers is bringing the spotlight on organic and sustainable materials and fabrication that includes repurposed and recycled elements. In addition, with consumer interest shifting towards sustainability, a surge in demand for more natural textures and colors is being observed. This, in turn, is expected to boost the demand for luxury interior fabrics in the forecast period.
Technological advancements are also changing how people are shopping for luxury interior fabrics in stores. Physical stores are expected to provide better experiences with the proliferation of digitalization and consumer-facing technology that is used to make it easier for shoppers to research, find, and buy interior fabrics.
As more customers commence to leverage technology to guide their purchasing decisions, retailers are using that data to drive sales. Now retailers can make decisions that are profit-driven on the basis of the data provided by browsing the web, online shopping, and digital couponing. Moreover, as manufacturers are learning more about what consumers are looking for, the better they will be at generating offers that attract shoppers and increase sales.
The upholstery product segment held over 52.7% of the revenue share in 2020. Upholstered furniture is one of the fastest-growing segments in the furniture industry. Upholstered furniture such as beds, chairs, sofas, and cushions have been witnessing significant demand. Upholstered furniture is more comfortable since it is padded and covered with a piece of fabric. Increasing purchasing power of consumers, improvements in the standard of living, and changing lifestyles have led to the development of luxurious upholstery fabrics for various types of seating furniture. An increase in the number of building constructions also supports the industry owing to new furniture requirements, once new homes have been built.
North America & Europe Luxury Interior Fabric Market Segmentation
Grand View Research has segmented the North America & Europe luxury interior fabric market on the basis of product, raw material, end-user, distribution channel, and region:
Based on the Product Insights, the market is segmented into Curtains, Upholstery, Bed Linen, and Mattress Coverings.
- The upholstery products segment dominated the market and accounted for a revenue share of 52.7% in 2020. This high share is attributed to upholstered furniture such as beds, chairs, sofas, and cushions. Such products are witnessing significant demand since furniture, once upholstered, is more comfortable as it is padded and covered with a piece of fabric.
- Curtains have gained higher penetration among consumers. Curtains are widely used in most households as they provide multiple functions, such as providing privacy and blocking light. Given the fact that they are in plain sight and contribute to the ambiance, consumers pay considerable attention to the color, pattern, and material while purchasing curtains as they are considered an important aspect of interiors.
Based on the Raw Material Insights, the market is segmented into Cotton, Velvet, Linen, Jacquard, and Others.
- The other raw materials segment dominated the market for luxury interior fabric and accounted for the largest revenue share of 32.5% in 2020. The others segment comprises embroidery, chenille, corduroy, fur, silk, wool, and leather. The silk segment accounted for a significant market share in 2020 and is one of the strongest fabrics in the world.
- Silk and cotton jacquard fabrics are utilized in high-end and traditional applications, while modern designers are integrating a wider variety of fibers, including linen and cotton blends. Jacquard fabric is more prevalent in home decor textiles, upholstery, curtains and drapery, and elegant duvet covers because of its stronger and more stretchable weaves.
Based on the End-user Insights, the market is segmented into Domestic, and Commercial.
- The pleasant luxury trend has gained momentum in recent years. Designing spaces in homes in a way that is superior in quality and performance and, at the same time, designed for a daily living has become an expression of a sophisticated lifestyle.
- Commercial fabrics confront conventional definitions of sustainability. These fabrics are designed specifically to enhance and perform in environments that require varying degrees of durability. Luxury interior fabrics used in commercial interior settings need to be a lot more durable than those used in homes and other domestic spaces.
Based on the Distribution Channel Insights, the market is segmented into Online, and Offline.
- Offline distribution channel enjoys preference among consumers as it gives them a first-hand look at the fabrics, which helps in an easy inspection of the quality and specifications. With the help of traditional brick-and-mortar stores, brands have been able to create a unique shopping experience for customers.
- Consumers primarily look for price/value factors while purchasing a product and find offline channels the most convenient way to physically verify products and make an informed decision. The fact that these stores have skilled staff with high knowledge of product specialties and other details also attracts first-time buyers of luxury interior fabrics.
Key Companies & Market Share Insights
The industry has a large number of international and regional players. The impact of these major players on the market is quite high as a majority of them have vast networks across the globe to reach out to their large customer bases. Key players operating in the market for luxury interior fabric, particularly in Europe and North America regions, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships in order to drive revenue growth and reinforce their positions in the market.
Companies in the market are focusing on special edition contracts and bespoke services to attract new clients and gain a competitive edge over other manufacturers. For instance, Nobilis’ recent contract projects include Eliott Barnes, Hotel Grands Boulevards, Coque Restaurant, Anne Peyroux Atelier, Elysée Palace, and Humbert Poyet. Some of the prominent players in the North America & Europe luxury interior fabric market include:
- Jim Thompson Fabrics
- Pierre Frey
- Style Library
- The Romo Group
- Kravet Inc.
- Dedar S.p.A
- Nina Campbell
- De Le Cuona
- Rubelli SPA
- Nobilis
- Colefax Group plc
Order a free sample PDF of the North America & Europe Luxury Interior Fabric Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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