About Homeware
Homewares refers to wide variety of household furnishings products used primarily for the purpose of decorating living spaces, making them seem more contemporary and stylish. These consist of a wide variety of products that may include soft room furnishings, scatter cushions, stylish kitchen utensils, art and wall décor, and other accessories. The homewares market has high growth prospects owing to increasing demand for the designer and stylish home interior. Moreover, rising demand from the developing economies expected to drive the market demand over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.8% |
Manufacturers of homewares are focusing on offering low-cost textile and decorative ranges in order to penetrate the wide pool of price-sensitive consumers, particularly in the developing countries. Additionally, some of the companies are coming up with complete sets of homeware decor items that are specific to the aesthetic requirements of the buyer. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Homeware market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ARC International (France), Conair Corporation (United States), International Cookware (United States), Libbey (United States), Lock & Lock (South Korea), Century Furniture LLC (United States), Heritage Home Group LLC (United States), Masco Corporation Designs (United States), HNI Corporation (United States) and IKEA (Sweden) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Homeware market by Type (Home Decoration, Furniture, Soft Furnishings, Kitchenware, Home Appliances, Lighting, Storage and Flooring, Bathroom Accessories and Cleaning, Tableware and Hardware Tools), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Homeware has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Retail will boost the Homeware market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Superior-Quality and Luxury Homeware Products and Product Innovation and Portfolio Extension Leading to Market Growth
Market Growth Drivers:
Developing Real Estate Industry and Growing Demand of Multi-Functional Furnishing Products
Challenges:
High Competition from Unorganized Market Players
Restraints:
Fluctuating Raw Material Prices and High Coat of Luxury Homeware Products
Market Leaders and their expansionary development strategies
In November 2023, Sentinel Capital Partners, a private equity firm that invests in promising midmarket companies, today announced a minority structured equity and junior debt investment in the Worldwide Home Care division of Sodexo, which provides in–home care in the United States, United Kingdom, Ireland, France, Denmark, Norway, Sweden, and Brazil. The investment supported the acquisition of the Company led by private equity firm The Halifax Group. Terms of the deal were not disclosed.
In February 2022, Swedish multinational clothing company H&M on Wednesday announced to introduce its home furnishing brand H&M Home in India in both online and offline formats. H&M Home offers fashion-forward decor and accessories for every room and style. Its assortment ranges from high-quality bedlinen and dinnerware to diversified textiles, with contemporary style.
Key Target Audience
Homeware Manufacturer/ Distributors, Online Vendors, Retail Stores, Government Agencies, Research Institute, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.