APAC DIY home improvement retailing market expected to grow by 2028 due to growing emphasis on eco-friendly DIY projects. Painting sub-segment predicted to be most beneficial. Market in rest of the APAC region to witness more growth opportunities.
NEW YORK, July 28, 2022 /PRNewswire/ — Research Dive has added a new report to its offering titled, “Asia-Pacific Do-It-Yourself (DIY) Home Improvement Retailing Market by Types (Building Materials, Décor & Indoor Garden, Lighting, Electrical Work Materials, Tools & Hardware, Painting, Wallpaper & Supplies, Plumbing Materials & Equipment, Flooring Repair & Replacement Materials, and Outdoor), Distribution Channel (Offline and Online), and Regional Analysis (North America, Europe, Asia Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028“.
According to the report, the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market is predicted to gather a revenue of $87,135.4 million by 2028, growing at a CAGR of 3.9% during the forecast period 2021-2028.
Dynamics of the Asia-Pacific Do-It-Yourself (DIY) Home Improvement Retailing Market:
Drivers: Rise in the population along with demographic shifts have led to a surge in global urbanization. These factors are anticipated to drive the growth of the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market during the analysis timeframe. In addition, dominance of highly populated countries like India, Pakistan, China, etc. in the retail industry, huge urban increments, and prominence of megacities are factors expected to further boost the market growth by 2028.
Opportunities: Growing insistence on environment friendly projects and initiatives like DIY un-paper towels, DIY combo kits, reusable snack bags, etc. by innovative firms are some factors estimated to offer ample growth opportunities for the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market during the forecast years.
Restraints: Lack of skilled professionals in the DIY home improvement sector is the main factor projected to impede the market growth during the forecast years.
Covid-19 Impact on the Asia-Pacific Do-It-Yourself (DIY) Home Improvement Retailing Market:
The outbreak of the Covid-19 pandemic hurled almost every business and industry; however, the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market witnessed a noteworthy growth rate. Many retailers adopted ultra-modern technologies like the augmented reality (AR), Internet of Things (IoT), etc. amid strict lockdowns to offer improved user experience. In addition, acquisitions and partnerships by some major market along with heavy investments in the DIY home improvement category by countries are some factors that propelled the market growth during the corona virus pandemic.
Segments of the Asia-Pacific Do-It-Yourself (DIY) Home Improvement Retailing Market:
The report has divided the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market into different segments based on type, distribution channel, and regional analysis.
By type, the painting sub-segment of the market is anticipated to have a significant growth rate and register a revenue of $15,790.4 million by 2028 due to availability of several DIY paint products. These include crackle effect spray, frost effect spray, self-painting kit, terrace wall proofing, etc. Furthermore, some key market players are striving for product improvements due to rising customer demands for DIY painting projects. These factors are expected to boost the growth of the painting sub-segment during the analysis timeframe.
By distribution channel, the offline sub-segment of the market is expected to have a dominating market share and gather a revenue of $80,100.5 million by 2028. Offline distribution channels to expand the local market’s clientele and lack of awareness about internet services among aged people are some factors expected to bolster the demand for offline distribution channel in the 2021-2028 timeframe.
By regional analysis, the Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market in the rest of the Asia-Pacific region is projected to garner a revenue of $25,961.5 million by 2028 due to rising South-East Asian customers. Furthermore, ultra-modern DIY product enhancements by market players, their powerful acquisitions, technological advancements, and heavy investments in the R&D activities are some factors anticipated to accelerate the market enhancement in rest of the Asia-Pacific region by 2028.
Major Asia-Pacific Do-It-Yourself (DIY) Home Improvement Retailing Market Players:
Some major Asia-Pacific Do-It-Yourself (DIY) home improvement retailing market players are
UBYLD RETAIL PRIVATE LIMITED
Home Depot Product Authority, LLC.
MR.DIY, among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Buy the Full report here
For example, in August 2021, Indus Valley Bio Organic, an Indian natural care products manufacturer, launched 26 new DIY combo kits that are 100% organic. This product launch aimed to enable customers mix organic ingredients to create personalized skincare and hair solutions easily.
The report also sums up many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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