Global Homeware Market – Industry Trends and Forecast to 2029

Global Homeware Market, By Product Type (Home Decoration, Furniture, Soft Furnishings, Kitchenware, Home Appliances, Lighting, Storage and Flooring, Bathroom Accessories and Cleaning, Tableware, Hardware Tools), Distribution Channel (Homeware Stores, Franchised Stores, Departmental Stores, Online, Specialty Stores), Application (Residential, Commercial) – Industry Trends and Forecast to 2029.

Homeware Market Analysis and Size

Due to the increasing disposable incomes and changing lifestyles among consumers in various regions, the demand for homeware has increased significantly. The huge rise in generation rent class in metropolitan areas, particularly in developed countries, is expected to emerge as a key driver of homewares market expansion in the coming year.

Data Bridge Market Research analyses that the homeware market was valued at USD 1465.52 million in 2021 and is expected to reach the value of USD 2165.24 million by 2029, at a CAGR of 5.00% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Homeware Market Scope and Segmentation

Market Definition

Homeware are items that are easy to replace and move, and they include almost anything that is not strictly functionally necessary in a decorated space. Curtains, sofa sets, cushions, tablecloths, decorative craft products, and decorative wrought iron are examples of these accessories. These items, which can include cloth, paintings, and plants, are commonly used in indoor furnishings and layout.

Drivers

• Rise in number of tenants and growing demand for fully furnished houses

A rise in the number of renters, primarily young families and couples looking for low-cost home décor items, as well as a rise in the number of millennial renters, divines well for the global homewares market in the near future. The developing trends in home design influence this generation of renters. Growing demand for trendy furniture through decor-based rental services and increased demand for high-end homewares are just a few of the factors expected to drive the global homewares market.

• Promotional strategies and online advertisings

Furthermore, increasing investments by key players in cutting-edge technologies and a focus on an easy-to-use shopping experience on their platforms are expected to drive industry sales. Similarly, key players' promotional strategies and advertising aid in the growth of the e-commerce furniture and homeware market.

Opportunity

Rising R&D activities in the market, as well as rising modernization in the products offered in the market, will create new opportunities for the homeware market during the forecast period. Furthermore, rising government investments in infrastructure development will help to support product demand in the coming years.

Restraints

However, rising buyer and supplier bargaining power, rising threat of new entrants, rising threat of substitutes, and rising threat of rivalry are among the major factors that will obstruct market growth, while rising availability of direct substitutes and reusable plastic bags will further challenge the growth of the homeware market during the forecast period.

This homeware market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the homeware market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Homeware Market

The spread of the COVID-19 pandemic has hampered the growth of the Homewares market. Homewares sales have decreased significantly as a result of the disrupted distribution channel, which has hampered export and import activities. Furthermore, the pandemic has had the major impact on the manufacturing of the homeware things which slowdown the growth rate of the homeware market.

Global Homeware Market Scope

The homeware market is segmented on the basis of product type, distribution channel and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Home Decoration
• Furniture
• Soft Furnishings
• Kitchenware
• Home Appliances
• Lighting
• Storage and Flooring
• Bathroom Accessories and Cleaning
• Tableware
• Hardware Tools

Application

• Residential
• Commercial

Distribution channel

• Homeware Stores
• Franchised Stores
• Departmental Stores
• Online
• Specialty Stores

Homeware Market Regional Analysis/Insights

The homeware market is analysed and market size insights and trends are provided by country, product type, distribution channel and application as referenced above.

The countries covered in the homeware market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the homeware market due to rising disposable income and a growing trend of decorating homes in both of these regions.

Asia-Pacific region is expected to grow in the homeware market due to an increase in demand for premium products as income levels rise in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Homeware Market Share Analysis

The homeware market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to homeware market.

Some of the major players operating in the homeware market are:

• ARC International (France)
• Conair Corporation (U.S.)
• International Cookware (U.S.)
• Libbey (U.S.)
• Lock & Lock (South Korea)
• Century Furniture LLC (U.S.)
• Heritage Home Group LLC (U.S.)
• Masco Corporation Designs (U.S.)
• HNI Corporation (U.S.)
• IKEA (Sweden)