Dublin, Sept. 08, 2023 (GLOBE NEWSWIRE) -- The "Homewares Market by Product Type, Distribution Channel, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global homewares market size reached US$ 1,544 Billion in 2022. Looking forward, the market is set to reach US$ 2,069.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.98% during 2023-2028.
The increasing construction, remodeling, and renovating activities, enhanced focus on research and development (R&D) activities, rapid technological advancements, the introduction of eco-friendly homeware products, and rising expenditure capacities of consumers represent some of the key factors driving the market.
Homeware refers to the items or accessories that are used to decorate or furnish a home. They are typically designed to enhance the functionality, aesthetics, and comfort of living spaces. They are manufactured using metal, plastic, wood, fabric, stone, and synthetic materials.
Homeware includes furniture, bedding, kitchenware, lighting, and decorative accessories like vases, candles, and picture frames. They also include soft furnishings, such as linens, towels, bed sheets, pillowcases, blankets, curtains, and carpets. They help to provide comfort, warmth, softness, a sense of relaxation and convenience, enhance the aesthetic appeal of a home, and maintain an organized and clutter-free living space.
Homewares Market Trends:
The rising construction, remodeling, and renovating activities across the globe are one of the primary factors driving the market growth. In line with this, the increasing consumer inclination toward seeking homeware products that align with the latest design styles and home improvement trends is favoring the market growth.
Moreover, the growing advertisements and showcasing of stylish homes, interior design patterns, and product recommendations by influencers are acting as another growth-inducing factor. Apart from this, the introduction of homeware products manufactured from environmentally friendly materials and sustainable practices owing to the rising consumer awareness and concern for the environment is providing an impetus to the market growth.
Additionally, the shifting population from rural to urban areas and the increasing expenditure capacity of individuals are catalyzing the demand for homeware products. Furthermore, various technological advancements and the launch of homeware products that are compatible with smart home systems, such as smart lighting or smart appliances, are positively influencing the market growth.
Other factors, including the thriving e-commerce industry, the rapid expansion of interior design businesses, enhanced focus on developing advanced products, and the introduction of customized home decor items, are presenting remunerative growth opportunities for the market.
Key Market Segmentation:
The report has provided a detailed breakup and analysis of the homewares market based on the product type. This includes home decoration, furniture, kitchenware, home appliances, soft furnishings, lighting, bathroom accessories, and others. According to the report, home decoration represented the largest segment.
A detailed breakup and analysis of the homewares market based on the distribution channel has also been provided in the report. This includes homeware stores, franchised stores, departmental stores, online, and others. According to the report, homeware stores accounted for the largest market share.
Asia Pacific was the largest market for homewares. Some of the factors driving the Asia Pacific homewares market included an enhanced focus on research and development (R&D) activities, rising construction, remodeling, and renovating activities, and rapid technological advancements.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1544 Billion |
| Forecasted Market Value (USD) by 2028 | $2069 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Questions Answered in This Report:
- How has the global homewares market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global homewares market?
- What is the impact of each driver, restraint, and opportunity on the global homewares market?
- What are the key regional markets?
- Which countries represent the most attractive homewares market?
- What is the breakup of the market based on the product type?
- Which is the most attractive product type in the homewares market?
- What is the breakup of the market based on the distribution channel?
- Which is the most attractive distribution channel in the homewares market?
- What is the competitive structure of the global homewares market?
- Who are the key players/companies in the global homewares market?
Competitive Landscape
- AQUALITAS Technologies Ltd.
- Atlas Scientific
- Badger Meter Inc.
- Danaher Corporation
- Endress+Hauser AG
- Hanna Instruments Inc.
- Horiba Ltd
- Real Tech Inc.
- Thermo Fisher Scientific Inc.
- Xylem Inc.
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/bf4pvy
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