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Economic concern affected homewares in 2019, with conservative consumption hampering growth and causing a slight decline. Weakening purchasing powers and stagnant salaries have led to increased caution in buying products such as stove top cookware.
Stove top cookware continued to account for the highest proportion of values share in homewares in 2019 but also saw the most significant decline. Stove top cookware was relatively stable for most of the review period, thanks to a slight increase in overall numbers of households.
In stove top cookware, which includes a vast range of premium-positioned products, Taiwanese consumers are fully aware of the differences between big brands and unbranded products, leading them to learn about the products before purchasing. In food storage, brand awareness is increasing due to rising health concerns.
Dairy Farm International Home Furnishings Taiwan Ltd continued to lead a highly fragmented landscape in 2019. There was only marginal value share between the leader and second-ranked company, King Garb Metal Enterprise Co Ltd.
Similar to home furnishings, homewares comprises both domestic and foreign brands. Multinationals such as IKEA, Lock & Lock, SEB Asia Ltd’s Tefal and Corningware from World Kitchen Asia Pacific Pte Ltd focus on mid- to high-priced products and distribution via department stores, warehouse clubs and exclusive retail outlets.
Homewares in Taiwan is seeing increased collaboration between brands and leading retail outlets. In 2017, the country’s largest chained supermarket, PX Mart, launched a scheme whereby consumers can earn bonus points to exchange for WMF-branded cookware.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Homewares industry in Taiwan with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
The Homewares in Taiwan market research report includes:
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.