E-Commerce Furniture And Homeware Market Will Upswing Faster With Revenue of $270.8 Billion By 2028 Attributed To Growth in Real Estate Construction Projects | Million Insights
The global e-commerce furniture and homeware market size is expected to reach USD 270.8 billion by 2028, registering a CAGR of 6.6% over the forecast period, according to a new report by Million Insights. This can be attributed to growing demand for furniture and homeware products on e-commerce portals from developed as well as developing countries. The growth of the market can proliferate during the forecast period due to growing demand for furniture in the bedroom and living rooms coupled with growth in real estate construction projects commenced by governments specifically in urban areas.
For instance, in India, the Ministry of Housing and Urban Affairs is liable for initiating and approving infrastructure development in metropolitan cities and urban towns of India. All these factors are expected to drive the growth of this market in the coming years. The inclination of moving abroad for work and studies is also impelling market growth. For instance, a huge population from India of consumer groups is migrating to North American countries such as U.S. and Canada, which is impacting the demand for these products in the region, eventually driving the global demand. Also, frequent innovation in homeware products impels the consumer to purchase the product frequently. Thus, all these factors are expected to drive the growth of this market during the forecast period.
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The kitchens type segment is projected to show good growth in the market during the forecast period. This growth is credited to the accumulative demand for these products in developed regions such as North America and Europe. Growth in the usage of different types of kitchenware in developed nations is one of the factors certainly driving the market growth. A growing number of households and prompt development are also some of the significant factors enhancing the segment growth in the coming years. North America is expected to show lucrative growth in this market during the forecast period. The increasing demand for furniture, lighting, and usage of textiles in this region is driving the growth of this market. The growth of the market is accredited to increased penetration of online sale channels and wider product accessibility.
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E-commerce Furniture And Homeware Market Report Highlights
• Europe is expected to witness the fastest CAGR of 7.6% from 2021 to 2028 owing to growing demand for different types of kitchenware and furniture from developed countries such as Germany, and the U.K.
• The furniture type segment accounted for the highest revenue share of around 60.0% in 2020 owing to rising demand for these products from developed as well as developing regions
• Pacific dominated the market and accounted for revenue share of around 40.0% in 2020 owing to rising demand for furniture products and homeware as result of growing booming construction sector in this region
E-Commerce Furniture & Homeware Market Segmentation
Million Insights has segmented the global e-commerce furniture and homeware market on the basis of type and region:
E-Commerce Furniture And Homeware Type Outlook (Revenue, USD Million, 2017 – 2028)
- Furniture
- Household Goods
- Kitchens
- Glass, Ceramics, Porcelain, Antiques, & Decoration
- Lamps, Lights & Bulbs
E-Commerce Furniture And Homeware Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- U.S.
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players of E-Commerce Furniture And Homeware Market
- Walmart, Inc.
- Amazon, Inc.
- JD.com
- Alibaba
- eBay.com
- Flipkart
- Shopify
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