North America & Europe Luxury Interior Fabric Market Trends Analysis Report By End User, 2028

Posted on 2022-08-18 by researchinsights in Industrial // 0 Comments

San Francisco, Calif., USA, Aug 18, 2022 — /EPR Network/ —

North America & Europe Luxury Interior Fabric Industry Overview

North America & Europe luxury interior fabric market size was valued at USD 1.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028. With rising per capita disposable income and purchasing power, many consumers are shifting towards premium furniture, which, in turn, is helping lift the overall market. The rise in disposable income as a result of economic growth has fueled the spending on premium furniture fabrics, which is one of the major factors driving the demand for luxury interior fabrics. The market is directly dependent on the demand for luxury interior fabric that is used to cover furniture pieces. The quantity of fabric required depends on the type of furniture.

In interior design, fabric color selection is vital as it must match the furniture. It is paramount for the two elements to complement well and bring out the designing concept perfectly. Selection of the luxury interior fabrics for creating a room is an extremely difficult job, particularly for covering the furniture and making window curtains or pillows for the room. The market for luxury interior fabric is fragmented in nature and is characterized by a high degree of competition between major players. Owing to this increased competitiveness, some luxury interior fabric players are focusing on strategies such as mergers and acquisitions, collaborations or joint ventures, geographical expansions, and new product development.

Gather more insights about the market drivers, restraints and growth of North America & Europe Luxury Interior Fabric market

The selection of fabrics to be used in the interior rests in the hands of designers who often work with a variety of textiles to build the preferred look. Luxury interior fabrics are usually used to offer a dash of texture or color to the room and can be incorporated to accentuate the decor as needed. Fabrics add colors to the interior, whether office or home. The colors can vary according to the place- warm, bright colors for homes and dark, subtle tones for offices.

Traditionally, the luxury industry has been associated with concepts like extremely high costs, excessive consumerism, elitism, or guilty pleasures. However, as the new generations are taking on the market with their new values, consumers’ expectations for luxury interior fabrics are changing accordingly. Moral values and ethics are becoming more important for consumers, in a way that they are starting to strongly affect their buying decisions. Sustainability, environment, animal welfare, positive impact on communities, labor, and production practices are all elements currently taken into consideration when purchasing a product, and luxury interior fabrics are not an exception.

With rapid industrialization and urbanization, the quality of life is steadily improving, subsequently making consumers demand quality interior products. Rising awareness about the benefits of and comfort offered by these luxury interior fabrics is boosting market growth. As lifestyles are changing, consumers are inclined towards good quality, comfortable, and visually attractive interior fabrics.

Browse through Grand View Research’s Consumer Goods Industry Related Reports

Textile Market – The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030.

Furniture Market – The global furniture market size was valued at USD 531.5 billion in 2019 and is expected to grow at a CAGR of 5.1% from 2020 to 2025.

North America & Europe Luxury Interior Fabric Industry Segmentation

Grand View Research has segmented North America & Europe luxury interior fabric market on the basis of product, raw material, end-user, distribution channel, and region:

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