In its latest offering, Fact.MR offers a frank study of the hiking footwear market, including historical demand data (from 2016 to 2020) and projections for the years 2021 to 2031.
The study provides key market insights based on product types (trail shoes, hiking boots, mountaineering boots, and approach shoes), design styles (low cut, mid cut, and high cut), and sales channels (independent sports stores, franchised sports stores, modern trade channels, direct to customer brand outlets, direct to customer online channels, direct to customer institutional channels, and third-party online channels), across seven major industries (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
According to the latest revised report by Fact.MR, the homewares market is estimated to reach a market value of over US$ 200 Bn by the end to 2031, and is expected to expand at a CAGR of more than 5% during the forecast period.
For critical insights on this market, request for More Info – https://www.factmr.com/connectus/sample?flag=S&rep_id=241
Key Takeaways from Market Study
- Among the products, home décor holds a major market share, which is expected to contribute more than 19% revenue by the end of the projected period.
- On comparing home décor and furniture under products, home décor is estimated to have a market value of more than US$ 35 Bn, while furniture holds the second-largest share and is expected to reach US$ 36.4 Bn by 2031.
- On the basis of distribution channel, departmental stores grab the largest share and are expected to expand at a CAGR of over 6% through 2031, crossing a market value of US$ 42 Bn.
- Europe to hold largest market share of approximately 45%. The European market is anticipated to grow around 1.5X from 2021 to 2031.
Competitive Landscape
In its report, Fact.MR profiles the following notable homeware manufacturers:
- The Oneida Group, Inc.
- Groupe SEB
- Pacific Market International
- Lock & Lock Co Ltd
- Libbey Inc.
- International Cookware SAS
- Inter Ikea Systems B.V.
- Conair Corporation
- Avon Products, Inc
- Arc International
The majority of the businesses covered in the report have prioritised new product launches and growing their manufacturing footprint in underdeveloped areas. Innovation, partnerships, strategic alliances, working with key actors, and bolstering local and international distribution networks are all examples of strategies. Among the significant developments are:
- Space-saving shelving is part of the new IVAR storage system product range that Inter IKEA Systems B.V. unveiled in 2019. People who reside in small spaces were the target audience for this device.
The Fact.MR team has also kept track of recent developments involving businesses that produce home goods, and these developments are included in the full study.
Winning Strategy
Major market participants are experimenting with different client engagement techniques. Companies are reportedly pitching for experience and trying out new concepts rather than making sales pitches. In reality, businesses are incorporating AR/VR technology to give customers a richer experience. If the chosen home accessory is positioned in front of the camera, any regular smartphone can be used to enjoy the beauty of the home.
More Valuable Insights
In its most recent publication, Fact.MR offers a reliable picture of the world market for home goods, including historical demand data (from 2016 to 2020) and forecasted figures for the years 2021 to 2031. The study provides crucial market information on the product (home furnishings, soft furnishings, kitchenware, home appliances, lighting, storage, flooring, bathroom accessories and cleaning supplies, tableware and hardware), as well as the distribution channel (homeware stores, franchised stores, specialty stores, departmental stores, and online sales channels), in important global markets (North America, Latin America, Europe, Japan, APEJ and MEA).
