Euromonitor International Uncovers Top 3 Home Trends

Discover the latest trends shaping the home and garden sector, with expert insights from Euromonitor International, a global market research firm that has produced hundreds of authoritative reports on the topic.

Erika Sirimanne, Head of Home and Garden Research at Euromonitor International, identified three notable home trends in a recent video featured below. 

Topics: House & Home Industry Insights

The Wedding Industry in 2017 and Beyond

The average cost of a wedding reached an all-time high of $32,329, according to The Knot 2016 Real Weddings Study, which surveyed 13,000 brides and grooms across the United States.

That’s good news for the 300,000-plus wedding vendors operating in the U.S., including ceremony and reception venues, DJs, coordinators, photographers, caterers, hair and make-up artists, limo drivers, and more.

Topics: House & Home Retail Industry Insights

What’s Driving the Global Security Market

Global security products and services make up an industry worth more than $300 billion. The United States is the largest market overall, but the fastest gains will be found in less developed markets such as India, China, Mexico, South Africa, Turkey, and Brazil, according to Jennifer Christ, a Research Manager at the Freedonia Group.

“Growth in the security market stems from economic development, rising urbanization, increasing personal incomes, and concerns about crime and insufficient public safety measures,” Jennifer explained in a recent webinar on the topic.

Topics: House & Home Public Sector Business Services & Administration Industry Insights The Freedonia Group

The Increasing Demand for Home & Garden Pesticides

The ongoing battle against weeds and pests creates a large, growing market. The demand for home and garden pesticides in the U.S. is forecast to rise 3.1 percent per year to $2.4 billion in 2020, according to the Freedonia Group.

An increase in new housing — coupled with rising consumer spending in lawn care and gardening will boost the overall market. 

Topics: House & Home Industry Insights

The Air Purifier Market in 2017 and Beyond

As incomes rise in various regions around the world — including China and India more consumers are buying air purifiers to decrease the amount of contaminants, odors, and airborne allergens in household air.

The global demand for consumer air treatment systems will grow at a double-digit annual pace to more than $10 billion in 2019, acording to an industry study by the Freedonia Group, a leading international business research company and a division of MarketResearch.com.

Learn more forecasts and facts about the worldwide air purifier market below.

Topics: House & Home Industry Insights

3 Factors Shaping the Global Market for Juvenile Products

The market for strollers and prams, car seats, cribs and cots, baby carriers, and nursery furniture is likely to experience continued growth in the next five years due to several key factors, including increasing income levels, growing e-commerce, and stable fertility rates, according to Azoth Analytics, a market research and analysis company.

Drawing on industry data and primary research with regional heads and retail managers, Azoth Analytics cites three notable developments and trends in the executive summary of its report on the market for juvenile products. 

Topics: House & Home Industry Insights

Shaw Acquisition Highlights Rising Demand for WPC Flooring

The recent announcement from Shaw Industries that it intends to acquire USFloors demonstrates the increasing demand for wood-plastic composite (WPC) flooring in the US.

WPC flooring — which consists of luxury vinyl tile (LVT) with a WPC core that serves as a backing — was introduced to the US by USFloors in 2013. This flooring’s attractive appearance and durability caused it to quickly gain acceptance among interior designers and homeowners. Seeking to capitalize on its popularity, several other hard surface flooring manufacturers developed their own lines of WPC flooring. 

Topics: Materials & Chemicals House & Home Manufacturing & Construction Industry Insights Heavy Industry The Freedonia Group

Material Trends in North American Remodeling Activity Begin to Favor Niche Products

Homeowners are remodeling again. They are on the lookout for products that compete with traditional high-end materials but come with a mid-range price tag. The underlying strength of the US housing market and the rising valuations of people’s homes are supporting robust activity in residential improvement, repair and remodeling.

This fact is underscored by the recent earnings of several big-box/DIY retail chains like Lowe’s and Home Depot. Home Depot reported in August that comparable (same store) sales rose by 4.7% in Q2 2016 over the same period in 2015 [1], and Lowe’s reported a similar 4.0% rise for its Q2 same store sales over 2015 [2]. Both stores expect full-year same store sales growth for 2016 to range between 4.4% and 4.9% as compared to the latest US Federal Reserve estimate of 2016 growth of approximately 2.0% [3]. Home Depot’s CEO, Craig Menear, specifically called out generally rising home valuations as the basis for his company’s optimism going forward regarding sales growth and overall residential renovation spending.

Topics: Materials & Chemicals House & Home Manufacturing & Construction Industry Insights Heavy Industry The Freedonia Group

A Wake-Up Call for the Mattress Industry?

Tempur-Sealy International, a leading manufacturer of sleep products such as mattresses and foundations, received a rather rude wake-up call September 28. Tempur-Sealy’s shares (NYSE:TPX) fell over 20% that morning after the company announced that it expected full year sales to decline between 1% and 3% from 2015 levels. While Tempur-Sealy cited lower-than-expected third quarter sales for the revision, the company did not provide an explanation for that decline.

Competing manufacturer Select Comfort Corporation’s stock price (NASDAQ:SCSS) also fell on the news, suggesting that investors are concerned about the outlook of the broader industry.

Topics: House & Home Manufacturing & Construction Industry Insights Heavy Industry The Freedonia Group

Challenges to Copyright Law Hold Promise for US Electronics Repair Industry

Many participants in the US repair services industry, particularly small independent repair shops, have faced mounting challenges over the last decade. During this period, one key trend has been manufacturers’ increasing control over the repair of their products. Recent events, however, have given pause to this trend and even promise to reverse it.

Topics: House & Home Consumer Electronics Industry Insights The Freedonia Group