Market Size of Mexico Home Textile Industry
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Historical Data Period
|2019 - 2022
|CAGR (2024 - 2029)
|> 4.00 %
*Disclaimer: Major Players sorted in no particular order
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Mexico Home Textile Market Analysis
The Mexico Home Textile Market is expected to register a CAGR of greater than 4% during the forecast period(2024-2029).
The home textile industry in Mexico is a diversified and integrated sector that has been growing stronger in the past few years. One way for Mexican companies that make home textiles to stay in business in the face of competition from other developing countries is to focus on technology and new ideas. Furthermore, a greater number of retail openings and online portals are supporting the development of the market for home textiles.
The rapid outbreak of COVID-19 affected the Mexican economy. This led to several difficulties in the home textile industry, where most of the market was under pressure and disrupted the textile supply chain from fabric to garments. The lockdown of factories and retail stores completely affected home textiles. Prevailing this situation, the pricing was also down in the domestic and international markets.
The competitive labor costs and geographic proximity to the US have made Mexico one of the US's largest textile trading partners. The growth in home textiles is supported by the growing household income, increasing population, rising income levels, and increasing rate of urbanization.