The Home Improvement & Gardening Products segment in China registered Market value of USD 152,856.52 Millions in 2024
The indicator recorded a historical decline (CAGR) of 7.71% between 2021 to 2024, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The Market value of Home Improvement & Gardening Products Segment in China (2018 - 2026, USD Millions)
Home Improvement & Gardening Products Segment in China
The Chinese home and garden products retail market experienced strong double-digit growth in 2018 but slowed down to moderate growth in 2019. This downwards trend continued in 2020, which saw the market decline due to the impact of the COVID-19 pandemic. The market is expected to recover quickly in 2021, followed by fairly strong levels of growth over the remainder of the forecast period.
Category segmentation
The home & garden products market consists of gardening and outdoor living products, home improvement products, and homewares. Gardening and outdoor living include garden buildings, manual and electric garden tools, garden utensils, outdoor living products (garden furniture, barbecues, ornaments), and plants and growing media (bulbs, compost, domestic fertilizer, flowering plants, seeds, shrubs, and trees). Home improvement includes retail (not trade) sales of decorating materials (paint, varnish, wall tiles, wallpaper), Electricals hardware (alarms, light fittings, plugs, switches), hardware (brackets, locks, nails, bolts, nuts, etc.), other materials (adhesive, aggregates, boards, cement, doors, window frames, glass, bricks, timber, etc.), and manual and power tools. Homewares includes retail sales of home hardware (crockery, cutlery, glassware, rubbish bins, storage, mechanical utensils, and home devices e.g. scales), lamps and lampshades, textiles, and soft furnishings (bathroom textiles, beddings, cushions, futons, hammocks, mattresses, table linen, furniture covers, doormats), and window dressings (blinds, curtain poles, rails, curtains, hooks).
Competitive landscape
The Chinese home and garden product retail market struggled in 2020 due to the impact of the COVID-19 pandemic, which has intensified competition between market players. While some globally leading players, like IKEA, are present in the market, a number of domestic companies have also enjoyed substantial success. As the popularity of online shopping continues to grow, pureplay retailers such as JD.com and Alibaba have gained traction and pose a threat to traditional brick-and-mortar retailers. This has further heated up rivalry in the market.
COVID-19 Impact
The COVID-19 pandemic has created a difficult operating environment for home and garden product retailers due to store closures and disruption to supply chains caused by nationwide lockdown restrictions. This has pushed the Chinese market into decline in 2020, intensifying competition between leading players. The market encompasses a large number of different retailers of varying sizes, from independent retailers to large department stores and specialist chains. The number of competitors, the presence of large incumbents, and limited differentiation between some players further heats up competition.
Market distribution
Home improvement and gardening specialists form the leading distribution channel in the Chinese home & garden product retail market.
Who are the leading players?
IKEA
Red Star Macalline Group Corp Ltd
United States of America
United States of America
China
Germany
United States of America
United States of America
Germany
United States of America
United States of America
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