NEW
YORK, June 26, 2024 /PRNewswire/ -- The
global homeware market size is estimated to grow by
USD 73.3 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of over 2.73% during the forecast period. Innovation and
portfolio extension leading to premiumization is driving
market growth, with a trend towards increase in
availability of private-label brands. However, volatility of
raw material prices poses a challenge. Key market players
include Alibaba Group Holding Ltd., Amazon.com Inc., Avenue
Supermarts Ltd., Bed Bath and Beyond Inc., Carrefour, Hermann Otto
GmbH, Lowes Co. Inc., Macys Inc., Penney OpCo LLC, Target Corp.,
Tesco Plc, The Home Depot Inc., Transform Holdco LLC, Walmart Inc.,
Wayfair Inc., Williams Sonoma Inc., and Zola Inc..
Get a detailed analysis on regions, market segments, customer
landscape, and companies- View the snapshot of this
report
Homeware Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
2.73%
|
Market growth
2024-2028
|
USD 73.3
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
2.64
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 39%
|
Key
countries
|
US, China, Germany, UK,
and France
|
Key companies
profiled
|
Alibaba Group Holding
Ltd., Amazon.com Inc., Avenue Supermarts Ltd., Bed Bath and Beyond
Inc., Carrefour, Hermann Otto GmbH, Lowes Co. Inc., Macys Inc.,
Penney OpCo LLC, Target Corp., Tesco Plc, The Home Depot Inc.,
Transform Holdco LLC, Walmart Inc., Wayfair Inc., Williams Sonoma
Inc., and Zola Inc.
|
Market Driver
The global homeware market is witnessing an upward trend in the
sales of private-label brand products. With lower prices compared
to branded items, these products cater to price-conscious
consumers. Supermarkets and retailers, including Walmart and
Amazon, are increasing their offerings and marketing efforts for
private-label homewares. Developing countries represent a
significant market for these products, with distribution channels
including supermarkets, discount outlets, and hypermarkets.
Innovative retailers in developed countries offer high-quality
private-label lines, making them increasingly popular alternatives
to national brands. Economic conditions have further boosted the
acceptance of private-label homewares.
The homeware market is currently experiencing a surge in trends,
with several key products gaining popularity. Clutter-free home
solutions, such as storage containers and organizers, are in high
demand. Homes are being remodeled with a focus on comfort and
functionality. Smart home devices, like voice-activated assistants
and home security systems, are also trending. Sustainable homeware,
such as reusable water bottles and energy-efficient appliances, are
becoming increasingly important to consumers. Producers are
responding with innovative designs and technologies to meet these
demands. Homeware retailers are promoting these trends to attract
customers and stay competitive in the market.
Research report provides comprehensive data on impact of trend.
For more details- Download a Sample Report
Market Challenges
- The rising costs of high-quality raw materials, like cotton and
silk, impact manufacturers in the homeware market. To recover these
costs, vendors increase the prices of soft home furnishings and
textiles, such as bed linen, kitchen linen, pillows, carpets, and
towels. Fluctuating raw material prices, caused by unusual weather
conditions, also contribute to this trend. Expensive materials,
like leather, used in furniture upholstery further increase
finished product prices, potentially hindering market growth.
- In the homeware market, several challenges exist for businesses
and consumers alike. Decorative items, such as appliances, fabrics,
and furniture, are essential for creating comfortable and
aesthetically pleasing living spaces. However, keeping up with
consumer trends and demands can be difficult. Affordability and
sustainability are key concerns for many consumers. Additionally,
the increasing popularity of online shopping has led to intense
competition. To succeed, businesses must offer competitive pricing,
high-quality products, and excellent customer service. They must
also adapt to changing trends and consumer preferences.
Furthermore, the ongoing challenge of supply chain management and
logistics remains a significant hurdle for many homeware
businesses. Overall, the homeware market presents both
opportunities and challenges, requiring businesses to stay agile
and responsive to meet the evolving needs of their customers.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This homeware market report extensively covers market
segmentation by
- Product
- 1.1 Hardware
- 1.2 Soft furnishing and textile
- 1.3 Lighting
- 1.4 Window dressing
- Distribution Channel
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Hardware- The global homeware market is
experiencing growth due to the introduction of stylish, brightly
colored products. Vendors like The Home Depot offer various
homeware items in different styles, materials, and brands. Smart
cookware and appliances are gaining popularity, particularly in
small households and urban areas. Household cleaning tools and
supplies are also in demand, with customers seeking convenient and
advanced options. Kitchen weighing scales, now used for measuring
nutritional value, are among the hardware products expected to see
increased demand due to urbanization and residential construction
activities.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The Homeware Market encompasses a wide range of products
designed to enhance urban living spaces. Lifestyle modifications
have led to an increased demand for HomewareItems, including
Furniture, Design elements such as Kitchenware, Textiles, and Soft
Furnishings. Home aesthetics continue to evolve, with consumers
prioritizing Environmental ideals and Sustainable resources.
Homeware can be made from various materials like Metal, Plastic,
Wood, Fabric, and Stone. Modern living spaces require essential
appliances like air conditioners, refrigerators, washing machines,
dishwashers, and microwave ovens. These appliances help maintain
desirable temperature and humidity levels in homes. Homeowners and
renters alike seek HomewareAccessories that complement their
personal style while contributing to energy efficiency and reducing
environmental impact. The Homeware Market caters to diverse
preferences and needs, offering a vast array of products to create
comfortable, functional, and aesthetically pleasing living
spaces.
Market Research Overview
The Homeware Market encompasses a wide range of products
designed for making a home more comfortable, functional, and
aesthetically pleasing. These items include furniture, kitchenware,
textiles, home decor, and home electronics. Homeware is essential
for creating a comfortable living environment and can significantly
impact the overall look and feel of a home. The market for homeware
is diverse and caters to various consumer preferences and budgets.
Consumers seek out homeware to enhance their daily lives, express
their personal style, and create a welcoming atmosphere in their
homes. The homeware industry is continually evolving, with new
trends and innovations emerging to meet the changing needs and
demands of consumers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Hardware
- Soft Furnishing And Textile
- Lighting
- Window Dressing
- Distribution Channel
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio