Homeware Global Market Report 2024

The homeware market size has grown steadily in recent years. It will grow from $133.97 billion in 2023 to $139.99 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The increase observed in the historical period can be ascribed to demographic changes, economic conditions, consumer preferences, market competition, environmental awareness, and the retail landscape.

The homeware market size is expected to see strong growth in the next few years. It will grow to $175.34 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The expansion anticipated in the forecast period can be linked to factors such as smart home integration, sustainable practices, urbanization, the global economic outlook, and a focus on health and wellness. Major trends projected for the forecast period encompass personalization, global influences in design, virtual try-before-you-buy, digital marketing trends, and minimalist design.

The increasing consumer spending on home interior designing and household furnishing is expected to fuel the growth of the homeware market. Consumers seek customized homes with appealing interiors and furnishings, and the COVID-19 pandemic has further intensified spending on home renovation and decoration. In September 2023, Statistics Canada reported an average expenditure of $3,570 per household on furnishings and equipment in 2021. The rising consumer spending in home interior and furnishing is a crucial factor contributing to the growth of the homeware market.

The growing urbanization is anticipated to drive the growth of the homeware market. With more than 4.3 billion people, or 55% of the world's population, living in urban settings, according to the World Economic Forum, there is an increased demand for functional, space-efficient, and aesthetically pleasing homeware products. The homeware market is responding to this demand for products that cater to urban living spaces. Thus, increasing urbanization is a driving force behind the growth of the homeware market.

The use of social media platforms by homeware product manufacturers is a key trend in the homeware market. Companies are leveraging social media marketing to build a strong network of brand enthusiasts, collaborating with a diverse spectrum of influencers. For example, in March 2023, White Domus, an India-based luxury home decor company, launched a collection of sculptural coffee tables, such as the Toledo Coffee Table, inspired by the rich heritage of Toledo, Spain, and promoted through social media platforms.

Major companies are focusing on innovative products such as cultural handmade ceramic homeware to meet consumer preferences for unique, artisanal, and eco-friendly options. Cultural handmade ceramic homeware reflects traditional craftsmanship and regional influences. For example, in November 2022, JAYPORE, an India-based homeware company, launched the Valleys of Sahyadri Homeware Collection inspired by Maharashtra's Paithani design legacy. The collection features exclusive homeware adorned with Paithani prints, asawalis, and traditional crafts such as Mashru, Himroo, and Baraque designs.

In June 2021, Ultimate Products, a UK-based consumer goods provider, acquired Salter for £34 million ($40.6 million), planning to expand Salter's international sales and diversify its brand portfolio. Salter, based in the UK, is a producer of high-quality homeware brands.

Major companies operating in the homeware market report are Walmart Inc., Carrefour SA, Whirlpool Corporation, Kohl's Corporation, Newell Brands Inc., Williams-Sonoma Inc., Kohler Co., The Avon Company, GE Appliances, Herman Miller Inc., HNI Corporation, Conair corporation, ARC International, Fiskars Group, Tupperware Brands Corporation, Villeroy & Boch, Libbey Inc., Lifetime Brands Inc., The Oneida Group, Messe Frankfurt Exhibition GmbH, LocknLock India, Corelle Brands LLC, Royal Doulton, Jarden Corporation, Lenox Corporation, Crown Brands LLC, Meyer Corporation, Zepter international, Inter IKEA Systems B.V., International Cookware SAS, Wedgwood, Sambonet Paderno Industrie S.p.A., Bormioli Luigi S.p.A., Groupe SEB.

North America was the largest region in the homeware market in 2023. The regions covered in the homeware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the homeware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of products in homeware are home decoration, furniture, soft furnishings, kitchenware, home appliances, lighting, storage and flooring, bathroom accessories and cleaning, tableware and hardware tools, and others. Soft furnishings are fabrics or textiles employed in the home. It includes linens, such as bath and dish towels, table linens, shower curtains, bathroom ensembles, sheets, pillowcases, mattresses, blankets, comforters, rugs and carpeting, draperies, curtains, and upholstery textiles. The products are distributed through homeware stores, franchised stores, departmental stores, online stores, specialty stores and are used for residential and commercial purposes.

The homeware market research report is one of a series of new reports that provides homeware statistics, including homeware industry global market size, regional shares, competitors with homeware market share, detailed homeware market segments, market trends and opportunities, and any further data you may need to thrive in the homeware industry. This homeware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The homeware market consists of sales of curtains, bed covers¸ household equipment, cushions, tablecloths and decorative craft products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.