Enjoy complimentary customisation on priority with our Enterprise License!
The Global Houseware Market Size is estimated to grow at a CAGR of 5.15% between 2022 and 2027 and the market is forecast to increase by USD 105.77 billion. The growth of the market depends on several factors, including the emergence of new designs and bright colors in houseware products, the increasing demand for induction cookware, and the expanding online sales of houseware products.
This housewares market research report extensively covers market segmentation by distribution channel (offline and online), product (cookware and bakeware, kitchen tools and accessories, and tableware), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The introduction of houseware products with new designs and bright colors is notably driving the market growth, although factors such as high competition from unorganized players may impede the housewares market industry. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The global houseware market is being driven by the introduction of new designs and bright colours by vendors. This trend is fueled by increasing consumer demand for stylish products that allow them to showcase their unique sense of style in the kitchen. The availability of a wide range of distinctive colour offerings has helped to spur sales of brightly coloured and fashionable houseware products, such as kitchenware.
Consumers are often willing to purchase new products because of their unique style, which appeals to their individuality, resulting in increased purchasing frequency that exceeds normal product replacement cycles. The demand for houseware products with new and bright designs is expected to continue increasing during the forecast period, driven in part by the younger generation's interest in buying products that express a unique sense of style.
An increase in the availability of private-label brands is the primary trend in the global houseware market. The growth of private labels in the houseware market is expected to increase. Retailers are increasingly focused on delivering value at a lower cost, resulting in a surge in private-label sales. This trend is especially prevalent in developing countries, where private-label houseware products account for a significant market share. Private-label products are typically distributed through supermarkets, discount outlets, and hypermarkets. Distributors of private-label products are also working to improve procurement processes and quality control.
Furthermore, some private label players offer premium houseware products. Innovative retailers in developed countries are developing private label lines that offer better quality than national brands. As private-label products become more widely available and sophisticated, they are becoming more widely accepted. Additionally, economic downturns in many countries have reinforced the credibility of private labels as cheaper alternatives to branded goods, creating awareness across different demographic groups.
High competition from unorganized players is a major challenge to the growth of the global houseware market. Established vendors in the houseware market face tough competition from unregistered, unorganized players who offer similar products. In this scenario, brand reputation and pricing become key distinguishing factors between organized and unorganized players. The market is highly competitive, with players ranging from small firms specializing in specific products to large multinational corporations. Competition in the market is dependent on factors like product type and pricing. Vendors compete based on various parameters like pricing, product design, brand recognition, and service. The low operating cost and investment required is an advantage for unorganized players who target consumers with cheaper, low-quality offerings, posing a significant challenge to well-established manufacturers.
Key Houseware Market Customer Landscape
The housewares market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Houseware Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the kitchenware and houseware market.
Breville- The company offers housewares such as Kettles, Air Purifiers, and Cookers. Also, This segment focuses on designing and manufacturing home appliances, and kitchen appliances, including bread makers, blenders, juicers, mixers, scales, kettles, ovens, microwaves, toasters, meat grinders, steamers, grills, and food processors.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The housewares market share growth by the offline segment will be significant during the forecast period. In this segment, vendors are also focusing on increasing their offline sales by widening their operations at different locations. This helps the company to generate and sell products efficiently and cater to every consumer category in large geographic areas. The huge growth in retail channels in different cities and regions will drive customer familiarization with different types of houseware. It will also increase the value of sales of the global houseware market during the forecast period. Although the offline segment is losing its market share to the online channels, extensive marketing will leverage its sales at a steady rate. Such factors will increase segment growth during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The offline segment was valued at USD 272.56 billion in 2017 and continue to grow by 2021. Houseware products such as cookware, bakeware, and flatware are predominantly sold through offline retail stores. Supermarkets, hypermarkets, convenience stores, and warehouse clubs are popular offline distribution channels that offer these products in various sizes, packaging, and brands, thereby generating most of the global market's revenue. Although the COVID-19 pandemic disrupted the offline distribution channels, they have resumed their operations since the start of 2022, which is expected to have a positive impact on the offline distribution channels in terms of houseware sales at retail stores during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The houseware market in APAC is expected to grow at a significant rate during the forecast period. This growth rate is primarily propelled by the growing year-over-year replacement sales demand, especially in countries such as China and India, because vendors are introducing new innovative houseware products. The market in APAC is mainly growing due to the rising middle-class population, coupled with the growing disposable income, increase in employment rate, and changing lifestyles. Approximately 1.5 billion people are expected to enter the middle-income class (C and C-/D+ class) segment by 2035, which creates an immense opportunity for vendors of the houseware market. The growing disposable income in the region has boosted the market's growth. Countries such as Japan, China, India, and Australia are some of the major kitchenware and houseware markets in the region.
COVID-19 in APAC in 2020 further impacted the growth of the regional market. However, in 2021, India, Japan, Korea, and other countries resumed various business and industrial activities with the relaxation of lockdowns, owing to the launch of vaccines and vaccination drives carried out by the governments of several countries. A gradual increase in the operations of retail shops led to an increase in the sales of the houseware market. Owing to the reopening of physical retail outlets and the lifting of lockdown restrictions across the region, gradual improvement in consumer purchasing behavior toward houseware, increase in the sales of personalized products, and rapid penetration of online distribution channels in developing countries, the global houseware market is expected to ensure its dominance in APAC during the forecast period.
The housewares market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Houseware Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.15% |
Market growth 2023-2027 |
USD 105.77 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.0 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bed Bath and Beyond Inc., Breville Pty Ltd, Conair Corp., Hamilton Housewares Pvt. Ltd., Helen of Troy Ltd., Inter IKEA Holding B.V., Lenox Corp., Libbey Inc., Lifetime Brands Inc., LocknLock Co., Newell Brands Inc., Nordic Ware, NORITAKE Co. Ltd., SEB SA Co., Steelite International Ltd., Target Corp., Tuesday Morning Inc., Tupperware Brands Corp., Whirlpool Corp., and Zepter International |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.