Blinds and Shades Market to Reach a Value of ~ US$ 15.4 Bn by 2027
Blinds and Shades Market: Overview
- Increasing expenditure in households and growing awareness about indoor health and protection from UV rays are expected to boost the global blinds and shades market in the near future.
- Asia Pacific holds a prominent share of the global blinds and shades market, followed by Europe. Focus about overall safety and decoration, and awareness among consumers, hotels, and restaurants have propelled the demand for blinds and shades in these regions.
- The blinds and shades market in Asia Pacific is likely to expand at a notable growth rate during the forecast period, due to expansion of the hotel industry and strong product innovation among manufacturers of blinds and shades in the region.
Blinds and Shades Market: Driving Factors
- Blinds and shades are primarily preferred by the residential and commercial sectors for protection from sunrays, wind, dust, etc.
- A major factor driving the blinds and shades market is the rise in the number of hotels, restaurants, and cafes.
- Additionally, standards enacted by governments and various associations regarding cleanliness and hygiene are key factors boosting the attractiveness of blinds and shades among consumers.
- Modern blinds and shades contain upgraded technology and sensors, which offer several features that make the house and office a more convenient place to be in. Expansion of the blinds and shades market in developing economies due to rising income and changing consumer preference toward e-Commerce are driving the business expansion of blinds and shades manufacturers, which, in turn, is boosting the blinds and shades market.
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Blinds and Shades Market: Key Challenges
- Factors restraining the growth of the blinds and shades market during the forecast period include:
- Presence of substitutes
- High maintenance cost
- In terms of product type, venetian blinds are mostly preferred by households, hotels, restaurants, and offices, owing to their convenience and cost-effectiveness.
- In terms of fabric, the synthetic segment constituted a share of ~ 80% of the global blinds and shades market in 2018. This is due to more availability of synthetic fabric. Moreover, these are more affordable and durable as compared to natural fabric blinds and shades.
- In terms of operating system, the manual segment dominates the blinds and shades market due to its better availability in the market. It is also cheaper as compared to automatic blinds and shades.
- Based on application, the residential segment dominates the market due to higher application of blinds and shades in houses, apartments, villas, etc.
- In terms of distribution channel, the offline channel dominates the blinds and shades market, since consumers want to know about the product in the physical sense. However, online retail stores are likely to be the highly preferred segment during the forecast period, due to a rise in the preference for online shopping in recent years.
- In terms of region, Asia Pacific holds a prominent share of the global blinds and shades market, followed by Europe. More number of households, cleanliness and hygiene concerns among consumers, and the growing demand for hotels has propelled the demand for blinds and shades in these regions.