US’ Home Textile Imports at $22 Billion in 2022, Downtrend Continues

2022 marked the second year of a downward trend as the US imported home textiles worth $22.025 billion. The home textiles market is experiencing difficulties as a result of consumer preferences and financial worries following a sharp increase in imports during COVID year 2020. 81% of US imports came from the Asia-Pacific region, which continued to be the largest supplier.

Imports experienced record growth in 2020, reaching $32.569 billion from $18.757 billion in 2019, according to Fibre2Fashion’s market insight tool TexPro. This was largely due to COVID-related lockdowns, which forced people to stay at home and led to a surge in demand.

However, since 2021, imports have been trending downward. Due to shifting consumer preferences, imports decreased to $24.285 billion in 2021 and 2022, respectively. As people started to leave their homes, they initially preferred to purchase clothing rather than household textiles. High unemployment rates and inflation drained their savings in the second half of 2022, making it more difficult for them to spend on discretionary items like clothing and home textiles. As brands struggled to get rid of their inventory in showrooms, they also slowed down their sourcing, and some even delayed or canceled purchase orders.

Home textiles made up the majority of the $18.015 billion, or 81.9%, of total imports to the US in 2022 from the Asia-Pacific region. Additionally, the nation imported goods from North America (6.18%), the Middle East (6.13%), Europe (3.68%), Central & South America (1.34%), and Africa (0.77%).

Reference: fibre2fashion.com