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Homewares Finds the Recipe for Economic Success

Global homewares market: $81.4 billion industry in 2012


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2014-04-28 23:03:02 - Homewares Finds the Recipe for Economic Success - a new market research report on companiesandmarkets.com

Sales in the global homewares market continued to perform well in 2012 growing by 4% year-on-year to reach US$81.4 billion. Unlike the home and garden market as a whole it also grew (albeit more slowly) during the economic downturn, and since 2009 the pace of growth has risen steadily. It continues to perform better than the home and garden sector as a whole.

Homewares offers a wide variety of products and price points that can benefit in both weak and improving economic environments, such that the category as a whole has largely proved to be a resilient one.

The pace of growth is most pronounced in developing markets, with Latin America, driven by Argentina and Brazil, seeing the most dynamic growth, as

 

 

rising disposable incomes help to drive in-home spending.

In total, 70% of homewares value growth over 2007-12 came from the fast developing BRIC countries. By contrast, there was little change in the value of the market in developed regions over 2007-12, although 2012 was a more promising year.

Key Findings

In 2012, homewares saw good market growth, with a year-on-year increase of 4% building on 2011 and performing marginally better than the overall home and garden market, having proved itself fairly resilient to economic pressures.

There is a marked difference in performance between developed and emerging markets, with the latter driving growth but the former still providing scale.

China dominates growth in homewares and will by 2017 be the world´s largest market, although spend per capita remains well below developed markets.

Rising female income in emerging markets is an important factor in growing homeware sales, changing home habits and driving demand for improved quality and performance in homewares.

Food storage is universally popular, with growth being seen across the board but most notably in China and Brazil, helping drive Tupperware to be the number one brand in food storage.

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