Houseware Market

Global Houseware Market Outlook for 2024 to 2034

The global houseware market is expected to be worth USD 343 billion in 2024. For 2023, the value was tipped to be USD 332 billion. The market is projected to show solid growth over the period from 2024 to 2034, with a CAGR of 4.1%. By 2034, the size of the market is predicted to expand by USD 513 billion.

Houseware Market Overview

• Countries like China and India are seeing significant booms in the construction sector. An increase in the construction of the residential sector accelerates the demand for household consumer products.
• Rise in disposable income and improvements in lifestyle are contributing to the desire of people to have better-outfitted kitchens, creating demand for luxurious houseware and essential home appliances.
• Consumers are more willing to buy houseware with innovative and creative designs, as houseware is becoming a part of home décor and interior design.
• The rise of smart homes is aiding the houseware market, as consumers pay greater attention to the appliances that become a part of their homes.
• Counterfeit products pose a significant threat to the market, as they can tarnish the image of brand players and drive people away from the appliances.

Attributes	Details
Houseware Market Value for 2024	USD 343 billion
Projected Market Value for 2034	USD 513 billion
Value-based CAGR of Market for 2024 to 2034	4.1%

Historical Performance of the Houseware Market

The size of the houseware market was marked to be USD 298 billion in 2019. The market likely progressed at a consistent pace over the historical period from 2019 to 2023, with a CAGR of 2.7%.

Houseware’s demand continued to rise steadily over the historical period. Though the pandemic caused disruptions in supply and distribution, it also forced more people to stay at home. Thus, greater attention was paid to home appliances and consumers were more willing to have upgrades in houseware. By the end of the historical period in 2023, the market value had jumped to USD 332 billion.

Market Value (2019)	USD 298 billion
Historical CAGR (2019 to 2023)	2.7%
Historical Market Valuation (2023)	USD 332 billion

Long-term Analysis of the Houseware Market

The houseware market is anticipated to have a value of USD 343 billion in 2024. For the forecast period, the market is expected to register a sturdy CAGR of 4.1%.

The market’s expansion is set to be faster in the historical period than in the forecast period. As more residences get constructed, the demand for houseware is getting propelled. In addition, the desire of consumers to live with high standards is contributing to the demand for high-end houseware. However, counterfeit and low-quality offshoot products are expected to hamper the progress of the market.

Trends of smart homes and modular homes are driving the demand for houseware. Modular and smart homes are incorporating houseware into their designs. Further, houseware is also becoming a part of interior design and benefitting from home renovations. By the end of the forecast period, it is projected that the value of the houseware market will be USD 513 billion.

Houseware Market Trends and Analysis

• Manufacturers in the market are recognizing the sustainable inclinations of consumers and are focusing on bringing out sustainable houseware. Many prominent brands in the market, such as Ten Thousand Villages and Etsy, have joined in on the trend.
• Post-pandemic, a penchant for home cooking has been instilled in consumers, contributing to higher demand for kitchenware.
• As with all streams of life, consumers are desirous of advanced technology in appliances at home too, and thus technologically advanced houseware has emerged as a significant trend in the market.
• With the shrinkage in households and increasing nuclear families, there has been a growing trend for houseware that is convenient to use and compact, saving space and time.
• With consumers becoming less hesitant to splash money on houseware, there has been a rising demand for appliances that are personalized or customized to suit the individual needs of households.
• While there is wide availability of houseware due to local and affordable options, sometimes the options contribute to the negative reputation of houseware. Small vendors serve low-quality products that are prone to not last, thereby damaging the reputation of houseware.
• In addition to kitchens and living rooms, bathrooms are becoming outfitted with convenient appliances. As a more comfortable experience is sought in bathrooms, demand for bathroom essentials is getting boosted.

Category-wise Outlook

The houseware market can be divided into the following segments: product type and distribution channel. As home sizes increase and there is more demand for an upgrade in homeware for all rooms, the type of products available in the market is widening. The boom in online platforms has impacted the distribution channel segment, but for the time being offline channels are still ruling.

Kitchen Appliances are the Foremost Type of Houseware Desired by Consumers

Kitchen appliances are the common type of houseware in homes. For 2024, kitchen appliances are expected to account for 33.3% of the market share.

With home cooking on the rise, kitchens’ importance in homes is ever-increasing. Innovations in kitchen appliances, aided by people experimenting with different cuisines that require untraditional tools, are also helping the spread of the product.

Attributes	Details
Top Product Type	Kitchen Appliances
Market Share in 2024	33.3%

Supermarkets/Hypermarkets Continue to Dominate the Distribution Channel Segment

Supermarkets/hypermarkets are the preferred choice of consumers when buying houseware. For 2024, supermarkets/hypermarkets are anticipated to contribute to 47.1% of the market share.

The offline channels are still dominant in the houseware market. Among the offline channels, supermarkets are the destination that consumers often visit for houseware. Supermarkets afford consumers bulk-buying options and are also attractive due to the various offers and discounts provided.

Attributes	Details
Top Distribution Channel	Supermarkets/Hypermarkets
Market Share in 2024	47.1%

Country-wise Analysis

The rapidly expanding construction sector in the Asia Pacific and Oceania is helping the market go from strength to strength in the regions. The growth of middle-class families, as well as consumers desirous of luxurious living, are other factors propelling the markets in the region.

The market has high potential in Europe due to the willingness of the population in the region to spend on aesthetic household products. North America is also a prominent region, as home renovation and modular kitchens gain popularity.

Countries	CAGR (2024 to 2034)
United States	2.9%
China	4.1%
Germany	3.8%
Australia	4.7%
India	5.5%

India Became a Land of Opportunity by Both Local and Foreign Players

India is set to be one of the lucrative countries in the market. For the 2024 to 2034 period, the CAGR for India is estimated to be a normal 5.5%.

Investment in houseware is rising in India, from both foreign and local players. For example, in February 2022, H&M Home entered the Indian market, and in November 2023, local player Cello World went public. Thus, the market is set to enjoy a sparkling rise in India over the forecast period.

Incorporation of Wellness into Houseware in China Giving New Dimension to the Market

Another country in Asia marked with promise for the market is China. For the forecast period, the CAGR for China is predicted to be a commendable 4.1%.

In China, comfort is the priority for a significant chunk of consumers when it comes to houseware. With the pandemic’s effects still felt in the country, consumers are seeking solace at home. Thus, producers in China are designing houseware that is pleasant and comfortable to be around.

Aesthetics Playing a Key Part in the Demand for Houseware in Australia

Australian homeowners are seeking houseware that helps make their houses look sleek. Therefore, Australian consumers are buying houseware that is inspired by vintage, playful, and other funky styles. Australian market players, including a considerable number of local start-ups, are focused on creativity and differentiation. For the forecast period, the CAGR for Australia is anticipated to be a respectable 4.7%.

Being at the Forefront of Advanced Technology Helps the Market in Germany

Germany is often at the forefront of technological innovations in household products. The country is also home to several trade fairs and shows that showcase houseware and technology, such as Ambiente and the Internationale Funkausstellung (IFA). Thus, German consumers are often among the first beneficiaries of innovations in the market. The market is expected to register a consistent CAGR of 3.8% in Germany.

Consumers in the United States Flock to Supermarket Chains for Houseware

Supermarket chains like Walmart, Costco, and Target are prominent destinations for United States consumers when it comes to shopping for houseware. Producers in the United States are stocking supermarket shelves with affordable products to appeal to consumers. The market is expected to register a steady CAGR of 2.9% in the United States.

Competitive Landscape in the Houseware Market

In line with the customization trends, start-up culture is strong in the market, offering a more intimate and personalized feel to home appliances. However, multinational giants have established a firm foothold in the market.

As designer trends emerge in houseware, celebrities and models are also becoming a part of the market, whether through branding or investment. Market players are also leveraging technology to come up with innovative home appliances.

Recent Developments in the Houseware Market

• In November 2023, Flannels Home was launched, marking Flannels’ entry into the market. The retailer made available designer houseware pieces from brands such as Versace and Dolce & Gabbana.
• In September 2023, the British brand Ultimate Products expanded into the French market. The company opened a showroom in Paris, after previously expanding into Germany and Poland.
• In August 2023, Australian brand Anko collaborated with the Indian e-commerce website Myntra. Through the collaboration, Anko entered the Indian market.
• In June 2022, popular film actress Priyanka Chopra launched the homeware brand Sona Home, in collaboration with Manish Goyal. The brand includes kitchenware and barware inspired by Indian traditions.

Key Companies in the Houseware Market

• Bradshaw Home Inc.
• Denby Pottery
• HF Coors Co. Inc.
• Inter Ikea Holding Bv
• Hutzler Manufacturing Co. Inc.
• TTK Prestige Ltd.
• Newell Brands Inc.
• BSH Hausgerate GmbH
• Kohler Co
• Haier US Appliance Solutions Inc.

Key Segments

By Product Type:

• Cookware and Bakeware
• Tableware
• Kitchen Appliances
• Bathroom Essentials
• Others

By Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Retail
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Houseware Market?

The size of the houseware market in 2024 is expected to be USD 343 billion.

How Big Will the Houseware Market Get by 2034?

By 2034, the size of the houseware market will be as big as USD 513 billion.

What is the CAGR of the Houseware Market in India?

For the period from 2024 to 2034, the houseware market is expected to progress at a CAGR of 5.5% in India.

What is the Popular Product Type in Houseware?

Kitchen appliances are the popular type of houseware, with an expected market share of 33.3% in 2024.

What are the Ongoing Trends in the Houseware Market?

Sustainable products and customized home appliances are two of the trends in the houseware market.