Market Size of United Kingdom Homeware Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 21.20 Billion |
| Market Size (2029) | USD 26.00 Billion |
| CAGR (2024 - 2029) | 4.17 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Homeware Market Analysis
The United Kingdom Homeware Market size is estimated at USD 21.20 billion in 2024, and is expected to reach USD 26 billion by 2029, growing at a CAGR of 4.17% during the forecast period (2024-2029).
The United Kingdom homeware market is expected to witness strong growth during the forecast period, owing to factors such as rising urbanization, an increase in consumer purchasing power, and an increase in the number of household units in the country. However, as the market is largely hit by the COVID-19 pandemic affecting customer confidence and purchasing power parity, the increased time customers have been spending at home to follow the Stay Home to Stay Safe protocol is helping the market record more transactions in the country.
Furthermore, factors such as globalization, new kinds of designs, and the availability of a variety of items for home decor, are encouraging the growth of the market. Due to the rise of online retail, furniture and other items used in houses are available at discounted prices and have become more affordable. Hence, many people are accessing these online retail outlets to decorate their homes. Other factors that are encouraging the growth of the market are the rise in disposable incomes and improving the lifestyle patterns of people. Competition among the various distribution channels is expected to intensify over the next five-year period, with the COVID-19 outbreak having accelerated a shift toward online platforms across the country.
UK Homeware Industry Segmentation
The UK homeware market is segmented by product (home furniture, home textiles, home appliances, floor covering products, home décor products, and other products (lighting, bathroom accessories, tableware, etc.)) and by distribution channel (supermarkets and hypermarkets, specialty stores, online distribution channels, and other distribution channels).
The report offers market size and forecasts for the UK homeware market value in value (USD billion) for all the above segments.
| By Product | |
| Home Furniture | |
| Home Textiles | |
| Home Appliances | |
| Floor Covering Products | |
| Home Décor Products | |
| Other Products (Lighting, Bathroom Accessories, Tableware, etc.) |
| By Distribution Channel | |
| Supermarket and Hypermarkets | |
| Specialty Stores | |
| Online Distribution Channels | |
| Other Distribution Channels |
United Kingdom Homeware Market Size Summary
The UK homeware market is poised for robust expansion over the forecast period, driven by factors such as increasing urbanization, enhanced consumer purchasing power, and a growing number of household units. The market's growth trajectory has been positively influenced by the shift towards online retail, which has made home decor and furniture more accessible and affordable. The pandemic-induced trend of spending more time at home has further bolstered demand for homeware products, as consumers seek to enhance their living spaces. This has led to a surge in transactions across various product categories, including home furniture, textiles, and appliances, as consumers invest in home office setups and kitchen gadgets. The competitive landscape is expected to intensify, with a focus on online platforms, as companies adapt to changing consumer preferences and leverage digital channels to reach a broader audience.
Despite challenges such as economic and political uncertainties, the UK homeware market has demonstrated resilience, with major players like IKEA, Bed Bath and Beyond, and Victoria PLC leading the charge. These companies have been proactive in adopting innovative marketing and retail strategies, including collaborations with retailers, to expand their market presence. The high internet penetration and consumer inclination towards e-commerce have further accelerated market growth, although segments requiring meticulous attention to detail, such as luxury home decor, have faced some constraints. The report highlights the strategic moves by key players, including acquisitions, to strengthen their market position and cater to the evolving needs of consumers in the homeware sector.
United Kingdom Homeware Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints/Challenges
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1.3 Market Opportunities
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1.4 Industry Value Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.6 Technological Innovations in the Market
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Product
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2.1.1 Home Furniture
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2.1.2 Home Textiles
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2.1.3 Home Appliances
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2.1.4 Floor Covering Products
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2.1.5 Home Décor Products
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2.1.6 Other Products (Lighting, Bathroom Accessories, Tableware, etc.)
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2.2 By Distribution Channel
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2.2.1 Supermarket and Hypermarkets
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2.2.2 Specialty Stores
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2.2.3 Online Distribution Channels
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2.2.4 Other Distribution Channels
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United Kingdom Homeware Market Size FAQs
How big is the United Kingdom Homeware Market?
The United Kingdom Homeware Market size is expected to reach USD 21.20 billion in 2024 and grow at a CAGR of 4.17% to reach USD 26.00 billion by 2029.
What is the current United Kingdom Homeware Market size?
In 2024, the United Kingdom Homeware Market size is expected to reach USD 21.20 billion.
