United Kingdom Homeware Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The United Kingdom (UK) 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 the customer confidence and purchasing power parity, the increased time customers have been spending at homes in order to follow Stay Home to Stay Safe protocol is helping the market to 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 a discounted price 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 which accelerated a shift towards online platforms across the country.

Scope of the Report

A complete background analysis of the United Kingdom homeware market, including an assessment of the market, emerging trends by segments, significant changes in market dynamics are covered in the report. The report also covers the competitive landscape of the industry, which provides details about the key players present in the market. The United Kingdom Homeware Market is segmented by Product into Home Furniture, Home Textiles, Home Appliances, Floor Covering Products, Home Décor Products and Other Products (Lighting, Bathroom Accessories, Tableware, etc.,)), and by Distribution Channel into Supermarkets and Hypermarkets, Speciality Stores, Online, and Other Distribution Channels). The report offers market size and forecasts for United Kingdom Homeware Market in value (USD million) for all the above segments.

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Key Market Trends

Increased Spending on Furniture and Appliances is Driving the Market Growth

The UK homeware market has been recording modest growth during the review period, overcoming the economical and political uncertainty due to Brexit. majority product categories including Home Furniture, Home Textiles, Home Appliances, have been recording year-on-year growth in a number of transactions owing to the increasing usage at households. During 2020, homeware market products, especially, Home Décor Products and furniture grabbed more customer attention as the majority of customers have switched to working from home practices. This also drove the demand for home office furniture and small kitchen appliances including coffee makers, grills among others owing to the more time customers got to spend at home. The trend is anticipated to help the specific segments to record more revenues in the country in the forecast period.

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