NEW YORK, Dec. 7, 2022 /PRNewswire/ –The homeware market size is expected to grow by USD 94.05 billion, progressing at a CAGR of 3.54% from 2022 to 2027. Based on region, the global homeware market is segmented into North America, South America, Europe, APAC, and MEA. APAC is estimated to contribute 38% to the growth of the global market over the forecast period. The rise in the availability of innovative hardware products such as household cleaning tools and supplies, cookware and bakeware, tableware, flatware, and kitchen weighing scales will facilitate the homeware market growth in APAC over the forecast period.
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Homeware market: Segmentation analysis
This market research report segments the homeware market by product (hardware, soft furnishing and textile, lighting, and window dressing), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and the Middle East and Africa).
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report!
Homeware market: Growth of the global construction industry drives the homeware market growth
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One of the key factors driving the homeware market growth is the growth of the global construction industry. The increase in the construction of new housing units will drive the demand for homeware products such as soft furnishing and textile products, cleaning tools and supplies, glassware, flatware, and window dressing products during the forecast period. Moreover, residential construction activities are also growing year-over-year because of factors such as a rise in the number of dual household incomes and government initiatives to support the construction of residential facilities. Therefore, the rise in the demand for residential housing globally will fuel the demand for homeware during the forecast period.
Homeware market: High penetration of organized retailing in many developing countries is the key trend
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High penetration of organized retailing in many developing countries is one of the key homeware market trends that is expected to impact the industry positively in the forecast period. Vendors are adopting various strategies to expand their customer base and increase their revenue. The expansion of online and offline distribution channels is one such strategy. Many vendors are opening new stores as a part of the expansion strategy. As a result, the availability of different types of homeware is rising. In developing countries, the retail industry is witnessing the emergence of a large number of retail stores, such as hypermarkets, supermarkets, and specialty stores. Large organized retail stores provide various options to customers. The entry of global players further increases sales through organized retail. Therefore, growth in organized retailing will have a positive influence on the market during the forecast period.
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Home furniture and bedding market in the US by distribution channel and product – Forecast and analysis – 2022-2026: The home furniture and bedding market size in the US is projected to grow by USD 10.86 billion with a CAGR of 2.96% during the forecast period 2021 to 2026. Furthermore, this report extensively covers segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).
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Homeware Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.54% |
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Market growth 2023-2027 |
USD 94.05 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
2.58 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, Germany, UK, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amazon.com Inc., Avenue Supermarts Ltd., Bed Bath and Beyond Inc., Carrefour, Hermann Otto GmbH, Lowes Companies Inc., Macys Inc., Penney OpCo LLC, Target Corp., Tesco Plc, The Home Depot Inc., Transform SR Brands LLC, Walmart Inc., Wayfair Inc., Williams Sonoma Inc., Zola Inc., and Alibaba Group Holding Ltd. |
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Market dynamics |
Parent market analysis; market growth inducers and obstacles; fast-growing and slow-growing segment analysis for the forecast period dynamics; market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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