The Indian home textile market should do increasingly well in future years as per several reports and experts. This promises to be welcome news for home textile manufacturers in India since production of home textile manufacturing companies products took a knock during the COVID-19 lockdown and also the second and third waves of the coronavirus. India Ratings and Research or Ind-Ra has already stated in its report that textile demand will get a boost in FY2022-23 and this will only be supported by lower issues in logistics for meeting export demand. The report clearly states that demand in the domestic market has continued to go up by leaps and bounds since the second quarter of FY2021-22 after coming down slightly in the first quarter.
Higher demand will naturally be aided by lower issues with the supply chain. Cotton demand remained at peak levels throughout FY2020-21, which led to lower opening stocks for the new season. The prices have since risen, leading to the stock being piled up by spinners. Demand for man-made fibre has also increased due to the higher cotton prices and caused a moderate demand shift at some levels. There is soaring home textile demand in the Indian market according to the report. The cotton yarn segment also saw volumes increasing handsomely, while export volumes in FY2021-22 will be much higher than the last two financial years.
In response to the growing demand, many home textile manufacturers in India, including hotel linen suppliers, have been expanding their operations. Welspun Group's home textiles brand, Welspun Living, is ambitiously targeting $1 billion in revenue. Welspun Living reported a revenue increase to approximately $327 million, and the global home textiles business is striving to achieve $1 billion in sales. Sales for the first nine months of the financial year surged by 35.8%, reaching around $955 million.
The home textile segment continues to experience robust and sustained demand, with manufacturing and production capacities remaining consistently high over nine months. Bath linen manufacturing operated at 90% capacity, up from 79% in the previous period. Bed linen production reached 100%, compared to 80% earlier, while production for advanced textiles increased from 61% to 83%. The overall production rate for the advanced textiles segment stood at 82%, according to various reports.
Welspun Living is actively working to expand its production capabilities, focusing on higher capacities for rugs, towels, spun lace fabric, carpets, and bedding. Therefore, the home textiles segment, known for its resilience, is poised for a strong rebound in the upcoming period.
For those seeking quality home textiles in India, exploring top bed sheet brands and linen brands in India, particularly those like Welspun Living, can add a touch of elegance and comfort to your living space. Additionally, for premium towels, considering reputable towel manufacturers in India can ensure both luxury and functionality in your home.
