Home and garden in 2024: The big picture
Home and garden in Hong Kong saw value sales decline in 2024 due to economic pressures, the weak housing market, and shifting retail dynamics. Consumers remained cautious in their spending behaviour amid rising living costs and subdued confidence, even as interest rates fell.
2024 key trends
Robust growth in Hong Kong’s gardening category in 2024 was supported by a mix of urban lifestyle needs, sustainability trends, and economic stability. With limited access to outdoor space, many residents turned to balcony and indoor micro-gardening to enhance their living environments, a habit reinforced by the post-pandemic focus on home improvements.
Competitive landscape
In 2024, Seven Sea Chemicals (Holdings) Ltd strengthened its leadership in home and garden, despite a challenging year for the category. While many players faced pressure from subdued consumer spending and a contraction in value sales, the company gained ground by capitalising on its strong brand equity and broad customer base, which includes both retail buyers and institutional clients, such as hotels and government facilities.
Retail developments
In 2024, home products specialists remains the leading channel for home and garden products in Hong Kong, but value share has come under pressure from a mix of economic, consumer, and competitive pressures. Economic uncertainty has prompted many households to cut back on discretionary spending, including homewares and furnishings, while a slowdown in the property market reduced demand for home improvements and décor.
What next for home and garden?
Home and garden in Hong Kong is anticipated to witness further decline in value sales over the forecast period, amid economic headwinds, changing market dynamics and evolving consumer behaviour. The prolonged slump in the property market will have a key impact, as falling house prices should discourage investment in home improvement and furnishings, and lead consumers to hold back on discretionary spending.
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Overview:
Understand the latest market trends and future growth opportunities for the Home and Garden industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Gardening
- Home Furnishings
- Home Improvement
- Homewares
If you're in the Home and Garden industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home and Garden in Hong Kong, China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home and Garden in Hong Kong, China?
- Which are the leading brands in Home and Garden in Hong Kong, China?
- How are products distributed in Home and Garden in Hong Kong, China?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Home and Garden?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home and Garden?
- Where is future growth expected to be most dynamic?
Home and Garden in Hong Kong, China
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
Home Improvement in Hong Kong, China
KEY DATA FINDINGS
Home painting emerges as the most dynamic category in home improvement
Nippon Paint (HK) solidifies position in competitive landscape
Home improvement and gardening stores remain the primary channel
Wall coverings to support sales as home improvements category faces trading conditions
Eco-conscious living drives smart home integration and sustainability in homes
Modern-rustic design redefines luxury and comfort in home interiors
Gardening in Hong Kong, China
KEY DATA FINDINGS
Gardening trends drive growth in pots, planters and indoor plants
Brighten Floriculture Ltd benefits from broad gardening portfolio
Home products specialists lead distribution with tailored offerings and expertise
Compact and low-maintenance gardening solutions to underpin growth
Vertical garden systems to drive sustainable urban greening in Hong Kong's future architecture
Smart indoor gardening systems to thrive as tech-savvy consumers embrace compact and sustainable solutions
Homewares in Hong Kong, China
KEY DATA FINDINGS
Consumers seek new products to elevate at-home dining experiences
SEB Asia Ltd consolidates its leading position
Home products specialists maintain solid position through omnichannel focus
Practicality to drive demand as multifunctional kitchenware gains favour
Eco-conscious materials to reshape homeware as sustainability gains importance
Smart home integration accelerates as urban consumers prioritise convenience and space efficiency
Home Furnishings in Hong Kong, China
KEY DATA FINDINGS
Cautionary consumer spending limits sales of home furnishings
A-Fontane Group witnesses growth via innovation and sustainable focus
Retail e-commerce witnesses declining share as consumer priorities shift
Smart lighting and energy efficiency to drive demand for lighting
Smart home integration to drive growth in home décor
Smart multifunctional furniture to drive innovation in home furnishings
The following categories and subcategories are included:
Home and Garden
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- Bathroom and Sanitaryware
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- Carpets
- Floor Tiles
- Wooden Flooring
- Other Floor Covering
- Hand Tools
- Hardware
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- Lacquer and Varnish
- Decorative Paint
- Kitchen Sinks
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- Corded Drills
- Cordless Drills
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- Other Corded Power Tools
- Other Cordless Power Tools
- Power Tool Accessories
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- Wall Tiles
- Wallpaper
- Other Home Improvement
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- Fertiliser
- Soil
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- Pest Control
- Herbicides
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- Gardening Hand Tools
- Gardening Power Tools
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- Walk Power Lawn Mowers
- Riding Lawn Mowers
- Robotic Lawn Mowers
- Watering
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- Indoor Plants
- Seeds
- Other Horticulture
- Pots and Planters
- Other Gardening
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- Beverageware
- Cutlery
- Dinnerware
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- Ovenware
- Stove Top Cookware
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- Food Storage
- Kitchen Utensils
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- Bath Textiles
- Bed Textiles
- Kitchen and Dining Textiles
- Living Room Textiles
- Rugs
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- Beds
- Chests of Drawers
- Mattresses
- Wardrobes
- Dining Furniture
- Home Office Furniture
- Kitchen Furniture
- Living Room Furniture
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- Sofa Beds
- Other Sofas
- Other Sitting Furniture
- Storage Furniture
- Other Indoor Furniture
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- Blinds
- Curtains
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- Charcoal Barbecues
- Electric Barbecues
- Gas Barbecues
- Outdoor Furniture
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- Lighting Fixtures
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- Incandescent Lamps
- Halogen Lamps
- Linear Fluorescent Lamps (LFL)
- Compact Fluorescent Lamps (CFL)
- Light-Emitting Diode Lamps (LED)
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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
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This report originates from Passport, our Home and Garden research and analysis database.
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