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Home Goods Market Research: Latest Industry Analysis, Trends & Statistics

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Global Home Goods Industry

The global home goods industry, which is part of the broader consumer goods category, refers to the manufacture, distribution, and retail of home furniture, household decorative accessories, soft furnishings (draperies and curtains), appliances, cookware and gardening equipment. During the economic recession, the industry was negatively impacted as consumers cut back on non-essential spending, putting off home improvement projects due to lower disposable income.

Homeownership, another important factor contributing to home goods demand is increasing as employment levels rebound. As consumer demand for high-end home goods increases, companies are focusing on high-quality goods to fare better against mass-merchandise outfits.

Technological advancements are offering industry players more innovation, such as point of sale software that allows tighter stock control and boosting of cost efficiency. 

Key Home Goods Market Segments

In the world gardening and outdoor living market, plants, growing media and shrubs represent the leading market segment, at almost 58% of the overall market. The Americas represent around 40% of the global market.

In the world household products industry, textile washing products represent the leading market segment, accounting for almost a third of the overall market. The EU represents in excess of 35% of the global market. Procter & Gamble is the number-one player in the market, generating 15% of overall revenues. The three leading companies account for 28% of the overall market. This highly fragmented industry involves the retail of household products such as dishwashing products, air fresheners, scouring products and furniture polish.

The world home improvement industry is driven by replacement demand, product innovation and increased residential and refurbishment activity in mature nations such as the EU and the US. There is great growth potential in developing nations, where market penetration is currently low and urbanization is rising along with consumer affluence. Demand is set to soar in regions like the Asia-Pacific as urban populations grow and consumers enjoy higher levels of disposable income.

Growth in large household appliance demand is expected to be particularly strong in Africa/Mideast and Latin America due to a rising number of households and higher income levels. China has benefited in the market due to currency exchange rates in its favor, facilitating pricing of goods for the global market. While China concentrates on pricing, US producers compete through technical savvy. Market drivers moving forward will include technical advancements and product innovation.

In the world houseware/tabletop ware market, manufacturers are appealing to wider consumer tastes by diversifying their product portfolios to offer an array of designs and colors. Industry players collaborate with fashion designers to give their crystalware, flatware and dinnerware product lines added style.

The US remains the leading decoration regional market in the world, despite a negative impact from the economic recession after the housing bubble burst, leading to lower new-home construction. As the housing market recovers, houseware demand continues to rebound. Market maturity in the US and the EU is encouraging companies to look to alternative markets with growth potential such as Latin America and Asia.

Global Industry Analysts estimates the world mattress market will reach almost $25 billion by 2017. Innerspring mattresses represent about 80% of the overall mattress market, though demand for specialty mattresses is rising as more affluent consumers, especially in mature markets such as the US, are willing to pay higher prices for extra comfort. The market is expected to record a yearly growth rate of 12% through to 2017.

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