The household expenditure on household textiles in Canada is projected to grow from 4.21 billion CAD in 2024 to 4.48 billion CAD in 2028. As of 2023, the expenditure stood at a slightly lower value, given the increasing trend from 2024 onwards.
Year-on-year growth is expected to show consistent increases: 1.66% from 2024 to 2025, 1.64% from 2025 to 2026, 1.61% from 2026 to 2027, and 1.36% from 2027 to 2028. The compound annual growth rate (CAGR) over this five-year period is projected to be approximately 1.57%.
Key future trends to watch for include:
- Consumer shifts towards more sustainable and eco-friendly textile options.
- Technological advancements in household textiles, such as smart fabrics.
- Impact of economic factors, including inflation and exchange rates.
