Homewares in Asia Pacific

Strategy Briefing

About This Report

Sep 2019

Asia Pacific is the largest and fastest growing region in homewares, supported by an increasing number of households, rising disposable incomes and a growing middle class. Consumer demand shaped by the pursuit of healthy lifestyles, convenience and aesthetic designs is driving product innovation, including the use of new materials and multifunctionality, pushing premiumisation in kitchen and dining.

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Homewares in Asia Pacific

Key Findings

Homewares registers a positive performance, supported by improved regional socioeconomic conditions

Homewares growth in Asia Pacific is supported by an increasing number of households, higher disposable incomes and an improved market environment in terms of modern retailing channels, including e-commerce. Sales are also being driven by demand resulting from lifestyle changes and megatrends such as a focus on convenience, health-consciousness and eco-friendliness.

Innovation drives premiumisation to meet consumer demand

Premiumisation is emerging in Asia Pacific. Consumers’ concerns over health and safety, as well as the appeal to convenience, are driving product innovation and the use of new materials, leading to growth in high-end products that offer multiple functions and aesthetically pleasing designs, contributing to value growth.

E-commerce growing, but store-based retailing still dominates

Internet retailing saw strong growth in Asia Pacific over 2013-2018, and its share of homewares sales value reached 11% in 2018. Non-grocery specialists are, however, still the backbone of homewares distribution. As mobile connectivity and e-commerce penetration increase, internet retailing will continue to play a significant role in homewares distribution.

Boom in food delivery services hampers growth in homewares

While the outlook for homewares is positive, the boom in food delivery services, notably in China, India, Indonesia and Thailand, will continue to constrain the overall growth prospects for homewares in Asia Pacific. Consumers are inclined to order food online more often, saving them time and effort in terms of cooking and cleaning, which poses a threat to spending on both kitchen and dining items.


Key findings

Regional Overview

Asia Pacific is the global leader in homewares
Growth in food delivery services expected to impact growth
Kitchen sees stronger growth than dining
Rising purchasing power and urbanisation drive regional growth
Aesthetically pleasing designs and new materials boost demand
Premiumisation drives kitchenware purchases
Developed and developing markets post polarised performances
Product innovation aids category growth in Asia Pacific
E-commerce grows but store-based retailing continues to dominate
Non-grocery specialists still the backbone of homewares distribution

Leading Companies and Brands

Homewares remains fragmented
Top multinationals stand strong for wide geography and product coverage
China fiercely contested, while other markets are also sought-after
Global brands gain share at the expense of local brands

Forecast Projections

China will be the engine of growth for homewares
Indonesia to register strong growth over 2018-2023
Homewares in Asia Pacific poised for a stable prospect

Country Snapshots

China: market context
China: competitive and retail landscape
Japan: market context
Japan: competitive and retail landscape
South Korea: market context
South Korea: competitive and retail landscape
Indonesia: market context
Indonesia: competitive and retail landscape
India: market context
India: competitive and retail landscape
Taiwan: market context
Taiwan: competitive and retail landscape
Malaysia: market context
Malaysia: competitive and retail landscape
Thailand: market context
Thailand: competitive and retail landscape
Philippines: market context
Philippines: competitive and retail landscape
Hong Kong, China: market context
Hong Kong, China: competitive and retail landscape
Singapore: market context
Singapore: competitive and retail landscape