As one of the three terminal industries , home textile industry is a traditional livelihood industry. It plays an important role in stimulating domestic demand growth, promoting employment and building ecological civilization.In 2019, with the upgrading of consumption in the downstream market and the entry of cross-industry brands, the market competition in China's traditional home textile industry is becoming increasingly fierce, and the performance of leading enterprises in the industry is under pressure. In 2020, the development of the traditional home textile industry will face certain challenges.
In recent years, a new generation of young consumers has gradually become the main force of market consumption, and the traditional home textile industry is facing more challenges.According to statistics from the National Bureau of Statistics, from January to November 2019, the domestic sales output value of enterprises above the scale in China's home textile industry reached 119.6 billion yuan, a slight increase of 0.44% over the same period last year.With the transformation and upgrading of consumption, the increasing saturation of consumption in first and second-tier cities and the disappearance of demographic dividend, the growth rate of domestic sales of home textile industry is still under pressure in 2020.
China has the maximum share of 39% with USD 18 billion. Poland has emerged as a supplier of home textiles during last years, with a significant growth rate but at small base value. However, China has remained almost stagnant with a growth rate of 0.2%, while countries, such as the United States, Belgium, and Germany, have a negative growth rate.
There are numerous issues motivating the global home textile market. Increasing concentration by governments and promising supervisory strategies are likely to be one of the most important motives for the development. Such type of backing has come across with growth in funds within the market. It is additionally boosting the development. Improvement in inclinations of style and thoughtfulness concerning domestic furnishing is furthermore projected to enhance the development.
China's textile industry will face a more complex and severe external situation in 2020.The global spread of COVID-19, the increasing risks in the global economy and domestic structural problems remain.The COVID-19 epidemic has not only caused economic losses to textile enterprises in domestic sales, but also exposed them to the loss of foreign trade orders and intensified international competition.