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Online Premium Home Improvement Market

Online Premium Home Improvement Market

Online Premium Home Improvement Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

149

Base Year:

2021

Date

Jul - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1758

Segments Covered
  • By Product Type Garage Organization, Outdoor Living, Indoor Furniture
  • By Packaging Type Sustainable Packaging, Non-Sustainable Packaging
  • By Distribution Channel Single Brand E-Commerce, Marketplace E-Commerce
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 1,729.4 Million
Revenue 2028Revenue 2028: USD 2,439.3 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 5.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Online Premium Home Improvement Market Share

Market Synopsis:

The Global Online Premium Home Improvement Market was valued at USD 1,729.4 Million in 2021 and is forecast to reach a value of USD 2,439.3 Million by 2028. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.9% over the forecast period.

Increasing spending on home renovation projects because of a preference for installing new household products with attractive and appealing aesthetics are important drivers driving the growth of the home improvement market over the upcoming years, with growing connectivity to security systems, which is now feasible to monitor an entire property from any remote place utilizing the smartphones and tablet apps which is likely to support the market growth during the forecast period.

Online Premium Home Improvement Market Size, 2021 To 2028 (USD Million)

One of the most popular technologies among homeowners is integrated home control systems. Partnership for significant advantage and the rise of the E-Commerce market is offering attractive opportunities for Online Premium Home Improvement product producers during the forecast period. Manufacturers have begun developing eco-friendly premium home improvement commodities and are focusing on online selling tactics, which is expected to increase online premium home improvement. Furthermore, adequate backup cabinetry, new equipment types and inclinations, hardwood flooring, backsplash trends, and a sufficient connection to the outdoors are projected to boost the market expansion during the forecast period.

The rising cost of raw materials and the lack of experienced labor, combined with a sizeable demand-supply deficit, will hinder the industry's expansion. To meet the growing demand for home improvements, the sector is seeing an increase in design and product advancements with many colors and finishing alternatives. Furthermore, investment in home improvements to improve living standards surged in North America during the COVID-19 pandemic. Various government initiatives combined with Rapid population growth and tax credits for green building development have propelled the market expansion over the upcoming years.

Market Segmentation:

The Online Premium Home Improvement Market is segmented based on Product Type, Packaging Type, Distributional Channel, and Region. Based on the segment of Product Type, the market is sub-segmented as Garbage Organization, Indoor Furniture, and Outdoor Living. Furthermore, based on the segment Packaging Type, the market is sub-segmented into Sustainable Packaging and Non-Sustainable Packaging. Finally based on the segment Distributional Channels, the market is further sub-segmented as Single Brand E-Commerce and Marketplace E-Commerce.

Below tree is interactive. You can click the nodes to get more information.

Based on Packaging Type:

Based on Packaging Type, the market is sub-segmented into Sustainable and Non-Sustainable Packaging. The surge of eco-friendly and sustainable marketing techniques is leading home improvement companies to create a healthy environment by eliminating reused packaging and offering an environmentally friendly approach for pacing the items. The growing public awareness of the importance of recycling and reusing items to safeguard the environment has expanded the sustainable packaging business. Consumers are likely to be more concerned about the packaging when purchasing furniture online, which is expected to increase the demand for sustainable packaging for online home improvement products during the forecast period.

Based on Product Type:

Based on Product Type, the market is sub-segmented as Garbage Organization, Indoor Furniture, and Outdoor Living. The Indoor Furniture sub-segment is anticipated to grow at the highest rate during the forecast period, especially for small-scale companies, individuals, and service providers. The rising popularity of wooden furniture due to its superior quality and appearance has supported the market growth. Furthermore, the influence of the Western lifestyle plays a significant part in the increasing penetration of modular kitchens and wardrobes. Also, the growing popularity of versatile furniture due to its better convenience is driving market expansion in the furniture industry.

North America is Projected to Grow at the Highest CAGR During the Forecast Period

North America is growing at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The rising popularity of integrated cleaning goods, concept washrooms, and other fittings and accessories will likely boost sales. The region's growing number of knowledgeable store outlets where clients may actively view the version of their bathrooms post-renovation is expected to enhance the market growth during the forecast period. With a high increase in population, along with a flourishing home construction sector in the United States, the integration of intelligent technology and energy-saving techniques is projected to have a significant impact on market growth.

Competitive Landscape:

The key players in the Global Online Premium Home Improvement Market include- 1stDIBS, Ashley Furniture, Brooklinen, Burrow, Castlery, Masaya & Co, Raymour & Flanigan, Saatva, William-Sonoma Inc., and others.

Segmentation of the Global Online Premium Home Improvement Market:

Parameter Details
Segments Covered
  • Product Type (Garage Organization, Outdoor Living, Indoor Furniture)
  • Packaging Type (Sustainable Packaging, Non-Sustainable Packaging)
  • Distribution Channel (Single Brand E-Commerce, Marketplace E-Commerce)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 1stDIBS
  • Ashley Furniture
  • Brooklinen
  • Burrow
  • Castlery
  • Masaya & Co
  • Raymour & Flanigan
  • Saatva
  • William-Sonoma Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Online Premium Home Improvement Market to Reach Valuation of USD 2,439.3 Million by 2028 – Increasing Consumer Spending on Online Furniture Drives the Market
In terms of revenue, the Global Online Premium Home Improvement Market is expected to reach USD 2,439.3 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 5.9% from 2022 to 2028. The increasing Premium home demand is anticipated to augment the growth of the market during the foreca...
FAQ
Frequently Asked Question
  • The global Online Premium Home Improvement valued at USD 1,729.4 Million in 2020 and is expected to reach USD 2,439.3 Million in 2028 growing at a CAGR of 5.9%.

  • The prominent players in the market are 1stDIBS, Ashley Furniture, Brooklinen, Burrow, Castlery, Masaya & Co, Raymour & Flanigan, Saatva, William-Sonoma Inc..

  • The market is project to grow at a CAGR of 5.9% between 2021 and 2028.

  • The driving factors of the Online Premium Home Improvement include

    • Elevating prices of new homes and increasing transfer of ownership

  • North America was the leading regional segment of the Online Premium Home Improvement in 2020.