Global house and home market essentially comprises of kitchenware and bedding products including household items, house furnishing and home appliances. Household product segment majorly consists of home cleaning items including cleaners, air fresheners, toilet care products, furniture polish, textile washing ingredients and others. Household furnishing segment involves home decor items such as floor coverings, home textiles and furniture. Rising competition and demand of ergonomic and minimalistic furnishings are driving the home furnishing market towards innovative designs and eco-furnishings, whereas, increasing awareness of public hygiene is driving growth of household cleaning items.
Home appliances segment covers a wide range of electronic devices that provide utility and convenience. It includes washing machines, microwave ovens, air conditioners, dishwasher and refrigerators, among others. The market is witnessing constant introduction of innovative and high-price electronic appliances to assist and reduce human labour. Manufacturers are focusing on development of autonomous & smart connected devices by integration of intelligent electronic control, machine programming concepts and complex sensors to remotely access & control internet-connected home appliances.
With highly competitive market and presence of wide array of options, home and household products market is found to be highly consumer centric. Consequently, companies are trying to differentiate themselves from others by coming up with innovative product offerings and expansion of their existing product lines. The industry is expected to implement vigorous and innovative product marketing and advertising strategies in order to retain brand loyalty. Also, many companies are following social media marketing to connect and communicate to their consumer base directly.
The consumers are becoming more aware about environmental sustainability, which is resulting in growing demand for environment friendly products. As a result, companies operating in house and home industry are expected to invest and come up with innovative eco-friendly products.
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