Demand for DIY products had increased considerably following the global financial crisis across all the countries over the past decade. Eat-at-home trend helped customers to cut down their restaurant bills, which thereby resulted in an increase in demand for cookware, tableware, and other homewares products. On the other hand, people in developed nations started choosing premium lifestyle products over low end products to distinguish their enhanced status as their disposable income rose in recent times. Noteworthy increase in internet penetration and therefore social media helped customers to keep track on latest trends and DIY solutions irrespective of their location. Online is the fastest growing channel for home and garden products however the channel penetration is relatively low when compared with electronics, books, and fashion
– The global home and garden market is expected to grow at a CAGR of 4.7% during 2014-2019, driven by demand for DIY products.
– Online will continue to be the fastest growing channel at a CAGR of 18.6%, while home furniture and homewares retailers will dominate the global sales but will record minor growth of 4.6%
– Americas will remain as the largest contributor to global home and garden sales but is expected to expand at a nominal CAGR of 2.8% over Asia Pacific which is expected to grow with a CAGR of 9.2%
– The US will continue to be the largest market, followed by China. Germany will move up to third position in the list of top 10 largest home and garden markets
