Latest News- Homeware Market: Hardware is expected to lead the Product segment during 2025-2029

The Homeware Market is being driven by Innovation and portfolio extension leading to premiumization

The Homeware Market is expected to grow at a CAGR of 2.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 77 billion. The global homeware market is witnessing an upward trend in the adoption of private-label brands. These brands, which are exclusively sold by retailers, are poised to capture a larger market share due to their competitive pricing. Price-conscious consumers are increasingly opting for private-label homewares, leading supermarkets to expand their offerings and invest in marketing and promotional activities. This trend is particularly significant in developing countries, where private-label homewares dominate the market landscape. As a result, the growth of the global homeware market is expected to be driven, in part, by the increasing popularity of private-label brands during the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Hardware
  • Soft furnishing and textile
  • Lighting
  • Window dressing
• Distribution Channel
  • Offline
  • Online
• Application
  • Residential
  • Commercial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Innovation and portfolio extension leading to premiumization
• Growing construction industry globally
• Increasing customer spending on home interior designing and household furnishing

However, the market also witnesses some limitations, which are as follows:

• Volatility of raw material prices
• High competition from unorganized players and low product replacement cycle
• Criticality of product sourcing and inventory management

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Market Scope in Homeware Market Research Report

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Research Analysis Overview

In the Homeware Market, discover a wide range of offerings from home security systems to smart lighting solutions. Explore kitchen appliances, bathroom fixtures, and outdoor furniture, along with garden decor and pet supplies. Indulge in luxury homeware, handcrafted products, artisan goods, and upcycled items. Seek home staging and interior design services, home decor consulting, and homeware subscription boxes. Rent custom-made furniture or opt for 3D printing and personalized homeware. Embrace sustainable sourcing, fair trade practices, ethical manufacturing, and social responsibility.

Market Research Overview

The global home furnishings market encompasses businesses involved in the production and distribution of furniture, home furnishings, floor coverings, and decorative items, including bathroom accessories, home organization solutions, cleaning supplies, home appliances, and smart home devices. According to Technavio, the market size is determined by the collective revenue generated by manufacturers and marketers of these product categories, namely consumer electronics, furnishings, decorative products, household appliances, and other homeware. Market expansion will be fueled by the surge in residential and commercial construction, leading to heightened demand for new furniture and furnishings. Additionally, the increasing number of renovation projects in major economies such as the US, China, and India further boosts sales in these sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/