PROSPECTS AND OPPORTUNITIES
Sales set to contract amid housing slump with kitchen sinks one of the few bright spots
Over the forecast period, the outlook for home improvement remains bleak, with sales projected to decline in value terms (at constant 2024 prices). The continued struggles of the property market, marked by stagnant demand for new homes and ongoing price declines, are forecasted to severely impact home improvement sales.
E-commerce to redefine home improvement in China through innovation and omnichannel integration
In the coming years, e-commerce is set to play an increasingly transformative role in China's home improvement market. While traditional brick-and-mortar channels remain crucial especially for product categories that require professional installation such as floor tiles, wooden flooring, and decorative paint, online platforms are rapidly gaining traction across more accessible categories like rugs, bathroom And sanitaryware, and power tools.
Innovation expected to focus on delivering greener and healthier products
When it comes to new product development and innovation there is likely to be a growing focus on sustainability, health and wellness and smart features, with these trends crossing paths. For instance, in home paint players could focus on added health benefits such as VOC-free paint, antibacterial/anti-viral paint, as well as products which are better for the environment.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Improvement industry in 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.
If you're in the Home Improvement industry in 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 Improvement in 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 Improvement in China?
- Which are the leading brands in Home Improvement in China?
- How are products distributed in Home Improvement in 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 Improvement?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home Improvement?
- Where is future growth expected to be most dynamic?
Home Improvement in China - Category analysis
KEY DATA FINDINGS
Home improvement sales decline in 2024 due to struggling property market
Nippon Paint extends its lead in home improvement in 2024 while Seagull soars
E-commerce and grocery retailers gain ground in home improvement
Sales set to contract amid housing slump with kitchen sinks one of the few bright spots
E-commerce to redefine home improvement in China through innovation and omnichannel integration
Innovation expected to focus on delivering greener and healthier products
Home and Garden in China - Industry Overview
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
The following categories and subcategories are included:
Home Improvement
- 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
Home Improvement
Includes: products purchased by consumers through retail channels.Excludes: commercial sales to professional builders / tradesmen / contractors etc. Home improvement refers to bathroom and sanitaryware, decorating sundries, floor covering, hand tools, hardware, home paint, kitchen sinks, power tools, wall covering and other home improvement.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Improvement research and analysis database.
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