The Canadian homewares market is expected to bounce back from its troubles during the recession, and has been forecast to grow at a compound annual growth rate (CAGR) of 2% over the next four years, to reach a market value of C$2.4 billion by 2016.
Growth within the market looks likely to be fuelled by the economic outlook in Canada beginning to improve somewhat, leading to Canadians starting to invest once again in homewares. Additionally, a boost to demand might come from the growing popularity of TV shows, including TV cooking shows, which are having an effect on consumer demand and expectations across a variety of industries.
The homewares industry is an area with products that are important for the everyday lives of Canadians, thus leading it to stand as one of the more consistent areas of growth in the overall home and garden sector.
Beverageware showed the most potential within the Canadian homewares market, as consumers maintained the trend of consistent investment in this area. The sector grew at a CAGR of 4% in current value terms to reach total sales of C$123 million.
The Canadian homewares market is dominated by a number of International brands that have a substantial presence in the industry, accounting for a majority of the sales in the category. The most prominent players are US or European companies which are sold in large multinational retail outlets such as IKEA, Wal-Mart and others.
For more information on the Canadian homewares market, see the latest research: Canadian Homewares Market Report
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.