LONDON--(BUSINESS WIRE)--Technavio’s global houseware market research report forecasts the market to grow at a CAGR of over 4% during the forecast period.
The increase in the availability of private label brands will be one of the major trends in the global houseware market during 2018-2022. The share of private labels in the houseware space is expected to grow as the focus is on delivering value at a lower price. Hence, retailers are not highly focused on selling branded products. This scenario is prominent in developing countries, where private label houseware products account for a major share.
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According to Technavio analysts, one of the key drivers for the global houseware market is the introduction of houseware products with new designs and bright colors:
Global houseware market: Introduction of houseware products with new designs and bright colors
The consumers are increasingly demanding stylish products that allow them to showcase their unique sense of style in the kitchen. Additionally, a wide range of distinctive color offerings helped in boosting the sales. The sale of brightly colored and stylish houseware products such as kitchenware has been increasing. Owing to this styling factor, the consumers are often willing to buy a new product because its unique style appeals to their individuality.
According to a senior research analyst at Technavio, “During the forecast period, the demand for houseware products with bright and new designs is anticipated to increase. The younger generation is interested in buying products, which express a unique sense of style. This is one of the key factors behind the popularity of more stylish houseware products in recent years.”
Global houseware market: Segmentation analysis
This global houseware market analysis report provides market segmentation by product (cookware and bakeware, kitchen tools and accessories, and tableware), by distribution channel (offline and online), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major products, the cookware and bakeware segment held the largest houseware market share in 2017, contributing to over 42% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for more than 38% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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