Global Home & Office Goods Industry Statistics
The global home and office goods industry encompasses a range of product lines such as bedding, kitchenware and office furniture. Challenges faced by the industry include rising manufacturing costs in regions like China, climbing fuel costs and weak consumer confidence throughout the economic recession.
Recent phenomena in the industry include a trend towards environmentally friendly goods to appeal greater consumer awareness concerning respect for the environment, and product innovation to appeal to specific demographics such as baby boomers.
The office furniture market involves the manufacture, distribution and sale of products such as filing cabinets, bookcases and office desks. Office furniture is designed with specific functions in mind, namely providing sturdy, aesthetically pleasing furniture that will facilitate work and make the workplace pleasant to work in. As demand is linked with the state of the economy, the office furniture market sees demand fall during times of recession.
Key Market Segments
The world household product industry is expected to exceed $202.5 billion in 2015, according to MarketLine, representing near 20% expansion in five years. Textile washing products represent the leading market segment at nearly a third of the overall market. The EU holds a 35% share of the global market. Procter & Gamble is the world’s number-one household product company, with over a 15% market share. The top-three companies in this highly fragmented market account for almost 28% of the market’s overall value. Top selling products include textile washing products, air fresheners, toilet care products, furniture polish and dishwashing products.
The global major appliances market is expected to grow at a yearly rate in excess of 3.5% through 2015, reports Freedonia, to over 400 million units. The market is driven by recovering consumer confidence and new growth in the US housing market. India is predicted to become the most rapidly growing market due to climbing standards of living. As the Chinese market matures, growth will decelerate, though it is currently the world’s largest market. Slower growth will be compensated in part by growth in rural areas.
Global Industry Analysts predicts the world mattress market will reach almost $25 billion by 2017. The innerspring mattress segment accounts for about 80% of the overall market. The US is the largest regional market, while Asia Pacific continues to record the fastest growth of around 12% yearly.
The world office services and supplies market is expected to record yearly growth of over 3% through 2015, according to MarketLine, to reach almost $222 billion. Paper-based products lead the market with sales of almost $87 billion in 2010, or 45% of the overall market.
Global Industry Analysts estimates the world stationery products market will exceed $155 billion by 2015. Factors fuelling the market include higher literacy levels and technological innovation.
Demand for printers continues to rise as ever-increasing numbers of consumers buy home PCs. Technological advancements facilitate product innovation, making printers smaller and cheaper. Product innovation also concentrates on tailored options for related products such as digital cameras.
The world barcode scanner market is expected to grow at a yearly rate of 7% through 2014, according to TechNavio. Higher operational efficiency fuels market demand, while the expense of 2D barcode scanners remains an obstacle to growth.