(MENAFN– Comserve) Shibuya-ku, Tokyo, Japan, Japan, Nov 01, 2021, 03:07 /Comserve / — Japan Home Textile Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The market is experiencing a short-term slowdown due to the COVID-19 pandemic, which effectively reduced tourism in the country. The domestic, as well as the international retail sector, is also suffering due to the lockdown within the country. In the long term, the increasing disposable income and advancing lifestyle are the main drivers of the market. The Japanese home textile market is supported by the increase in organized retail and growth of end-user sectors, like housing, hospitality, and healthcare.
Key Market Trends
Effects of US-Japan Trade Negotiation
The textiles specific rules of origin (RoO) is one of the main topics of debate in the US-Japan trade negotiation. Most of the free trade agreements enacted in Japan implement rather liberal fabric-forward rules of origin commonly known as ‘double transformation’.
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In 2018, the United States imported USD 656 million textiles from Japan, accounting for 2.1% of total US textile imports. The Japanese textile has appropriate strengths and advanced product development capabilities and sewing techniques that produce high-performance fibres and traditional craftsmanship. Given the combined high potential of Japanese textiles, export expansions are expected.
JETRO’s Japan Textile Salon in NYC 2020 ended with the selection of 5 new companies that have fabrics that support sustainability based on the needs of the local buyers. A total of 16 companies will exhibit and try to develop the US market.
The non-tariff barriers under the US-Japan trade deal could multiply the bilateral trade flows for technical textiles. The top categories of Japan’s textile and apparel exports to the United States in 2018 included special-purpose fabric, non-woven fabric, and synthetic filament fabrics.
Hospitality Trends Creating a Market for Home Textile in Japan
Japan, during the forecast period, is expected to evidence growth in the tourism industry. As per the tourists’ data, the current hotel occupancy rate in the major cities, like Tokyo and Osaka exceeds 70% already. The hotels in the cities are also not optimized to meet the demand for varying price points and experiences.
The Ministry of Land, Infrastructure, Transport, and Tourism directed local governments of Japan to comfort restrictions on floor-space requirements. In addition, the developers are planning on setting up and constructing multiple high-end luxury hotels freestanding the major areas. The increase in the construction of new hotels will create the demand for home textile, like floor carpets, bath linen, and bed linen. The hotels will also be required to keep up with the new products, with improved material and better or trendy designs, thus aiding the market’s growth.
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The report covers major international players operating in the Japanese Home Textile Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service. Companies are also focusing on the production of goods that are in compliance with the technological advancements and provide a luxurious experience at lower costs.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.3 Trends Influencing the Indian Home Textile Market
4.4 Technological Developments
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
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