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Global Homewares market to grow at a CAGR of 4.67 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in household disposable income. The Global Homewares market has also been witnessing increasing demand from emerging economies. However, the low brand loyalty could pose a challenge to the growth of this market.
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The Homewares market in emerging countries such as in the APAC region and the MEA is expected to grow at a rapid pace during the forecast period. Countries such as Brazil, Russia, India, and China offer outstanding opportunities for vendors providing homewares. These countries have witnessed remarkable economic growth in recent years. Therefore, large sections of the population in these countries have progressed from the poverty level into the middle class and people in this segment have enough money to spend on homeware products to decorate their homes. Thus, the increasing demand for homeware products from emerging economies is a major trend that is expected to lead the growth of the Global Homewares market during the forecast period.
According to the report, the Global Homewares market has several drivers contributing to its growth, one such being increasing household disposable incomes. The per capita spending of consumers has risen significantly in recent years owing to the growth of the global economy.
Further, the report states that one such challenge hindering the growth of the market is the low brand loyalty of consumers. Consumers have low brand loyalty toward a particular retailer as they are price conscious and because of the presence of numerous homeware products in the market and low product differentiation.
Global Homewares Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, Europe, the APAC region, and the MEA region; it also covers the Global Homewares market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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