“Rise of Sustainable Homeware Products”
A significant trend propelling growth in the homeware market is the increasing demand for sustainable and eco-friendly products. Consumers are becoming more environmentally conscious, seeking items made from recycled or renewable materials. For instance, in February 2023, Crate & Barrel revealed the impending closure of its locations in Canada, a move attributed to the company's ongoing financial struggles. This announcement signifies a major setback for the brand, which has been a staple in home furnishings. The decision to shut down operations reflects broader challenges within the retail sector, prompting Crate & Barrel to reassess its strategy for sustainability and growth.
Frequently Asked Questions
The market is segmented based on Segmentation, By Product Type (Home Decoration, Furniture, Soft Furnishings, Kitchenware, Home Appliances, Lighting, Storage and Flooring, Bathroom Accessories and Cleaning, Tableware, and Hardware Tools), Distribution Channel (Homeware Stores, Franchised Stores, Departmental Stores, Online, and Specialty Stores), Application (Residential and Commercial) – Industry Trends and Forecast to 2031
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The Global Homeware Market size was valued at USD 1.62 USD Billion in 2023.
The Global Homeware Market is projected to grow at a CAGR of 5% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
