As China’s economy is getting back on track with the GDP growth rate standing at 6.9 % in 2017, the home textile market is also showing strong signs of recovery before Intertextile Shanghai Home Textiles returns this August. With 23 years’ history, the show is well regarded as the most influential home textile trade fair in Asia. Over 1,000 suppliers from around 30 countries and regions will showcase a wide variety of home textile products ranging from bedding, bath, table & kitchen, curtains & upholstery and textile designs & technology to editors, whole home, sun protection, wallcoverings and carpets & rugs. In turn, over 38,000 trade buyers are expected to source at the fair.
According to Askci Consulting, one of the leading Chinese industry research institutions, China’s home textile market has been growing steadily with an average rate of around 10% between 2010 and 2015. The overall size has increased from USD 18.4 billion in 2010 to USD 29.5 billion in 2015, and is expected to reach USD 38.3 billion in 2020. What’s more, the consumption of home textiles only accounts for about 29 % of the total textile consumption of the country. Given the fact that the relevant ratio in developed countries such as the US and Japan is between 33 to 38 %, there still lies huge room for the Chinese market to expand. Foreign analysts share this optimism, with Euromonitor expecting an annual increase of 5.3 % and 5.9 % for China’s entire home textile and bedding product markets respectively.
Thanks to the improving quality and competitive price, there is also growing demand for China’s home textile products from buyers around the world. Customs statistics show that the export value for home textile products increased 2.25 % to USD 39.5 billion in 2017. Among all China’s export countries and regions, the US has the largest share, followed by the EU, ASEAN and Japan.
With all these favourable conditions in place, Intertextile Shanghai Home Textiles, to be held from 27 – 30 August, 2018 serves as an ideal platform for industry players to capture these business opportunities. “The rapid urbanisation and the consumption upgrade is unleashing unprecedented purchasing power in China. Participants can expect to benefit from this huge potential at our show,” Ms Wendy Wen, Senior General Manager of Messe Frankfurt (HK) Ltd added.
Contract business sees big potential in Chinese market
The constant growth of Chinese consumers’ disposable income not only results in increased spending on home textile products, but also stimulates the development of tourism. A report from the General Office of the State Council of China stated that the annual number of domestic trips has nearly doubled, from 2.1 billion in 2010 to 4.4 billion in 2016. It is expected that domestic travel-related consumption will reach USD 869 billion in 2020 and contribute to over 5 % of GDP. The hotel industry in particular has benefited from this development, with the number of limited service hotels increasing 30 % in the past seven years. This also implies remarkable opportunities for the home textile industry players doing contract business since quality products including furnishing fabrics, bedding & towelling and more will be sought after by the hotels.
Intertextile Shanghai Home Textiles – Autumn Edition is organised by Messe Frankfurt (HK) Ltd; the Sub-Council of Textile Industry, CCPIT, and the China Home Textile Association (CHTA).