LUXURY BEDDING MARKET ANALYSIS

Market Challenges And Opportunities

Driver:

Increasing use of soft, organic materials:

Luxury bedding brands offer various high-quality, soft, and organic collections such as organic flax yarn, organic cotton, and flax linen sipped in plastic-free packaging. The soft and high-quality materials are smooth sateen, rich velvet, fine Italian, and Belgian linen. These materials are more comfortable. Organic bedding is created without any harsh chemicals, such as pesticides or harsh chemical cleaners and fabric treatment. For instance, The APEDA(Agricultural and Processed Food Products Export Development Authority), Ministry of Commerce & Industries, Government of India is implementing the National Programme for Organic Production (NPOP), in December 2021, the program involves the accreditation of Certification Bodies, standards for organic production, promotion of organic farming and marketing, etc. The NPOP standards for production and accreditation system have been recognized by European Commission and Switzerland for unprocessed plant products as equivalent to their country standards. With these recognitions, Indian organic products duly certified by the accredited certification bodies of India are accepted by the importing countries. APEDA is also in the process of negotiation with South Korea, Taiwan, Canada, Japan, etc.

Restraint:

Rising cost of silk:

Silk is very expensive because of its limited availability and costly production. It takes more than 5,000 silkworms to produce just one kilogram of silk. The farming, killing, and harvesting of thousands of silkworms to produce cocoons are resource-heavy, labor-intensive, and costly processes. For instance, in November 2022, India’s total production of cotton in the year 2021-22 was 34.1 million bales (bales of 170 kg each). the Central Zone (which comprises states like Gujarat, Maharashtra, and Madhya Pradesh) is the biggest producer of cotton in India, with Gujarat being the highest producer of the Central Zone and the country at 8.516 million bales. Saurashtra (Saurashtra, also known as Sorath or Kathiawar, is a peninsular region of Gujarat, India, located on the Arabian Sea coast.)constitutes about 70% of Gujarat’s cotton production, with farmers in Amreli - the state’s largest cotton district – playing a key role. Yavatamal, Buldhana, Akola Amravati Nagpur Washim, and Wardha are the districts of Vidarbha which are Maharashtra’s major cotton-producing areas. This restraint is avoidable by using cotton or natural material for production.