Asia-Pacific DIY Home Improvement - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Asia-Pacific DIY Home Improvement - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Asia-Pacific DIY Home Improvement Market size is estimated at USD 87.92 billion in 2024, and is expected to reach USD 91.49 billion by 2029, growing at a CAGR of less than 5% during the forecast period (2024-2029).

The Asia-Pacific do-it-yourself (DIY) home improvement market grew notably during the COVID-19 pandemic. DIYers in developed and developing countries were investing time to complete home improvement projects as most people are under COVID-19 lockdown. Most DIYers engaged in gardening practices to enhance customers’ living spaces and keep them entertained during the lockdown. Such factors are driving the demand for DIY products amid COVID-19.

Lifestyle changes have increased interest in DIY interior design and other activities. Moreover, in the developing Asia-Pacific regions, the growing population of working women and their participation in the decision-making process for home decoration also boost the sales of products required for such projects. Subsequently, there has been an increasing adoption of DIY home improvement products. The use of DIY products lowers long-term costs compared to work outsourced to expensive labor. Therefore, the demand for DIY home improvement products is a major factor driving the market studied. The customer base of the DIY home improvement market can substantially grow if there is growth in the offline subsegment. There needs to be more Internet awareness among people above the age of 65 in the Asia-Pacific region, which would accelerate the demand for offline DIY home improvement products.

The market is expanding due to the region's growing interest in DIY culture. The demand for DIY home renovation products is rising as people's interest in these tasks grows. Customers now find it simpler to acquire and buy a wide variety of DIY home renovation products thanks to the expansion of e-commerce platforms in the area. Due to this, the DIY home improvement market is expanding in the Asia-Pacific area.

APAC DIY Home Improvement Market Trends

Offline DIY Stores are the Preferable Distribution Channels

Online shopping is more practical than traditional brick-and-mortar establishments because customers can purchase at home or on the road using their mobile devices. E-commerce platforms allow customers to identify the things they need and compare pricing and features because they offer a considerably greater assortment of goods than conventional retailers. Online sellers frequently offer lower prices because they have fewer overhead expenses than traditional businesses. This especially appeals to budget-conscious shoppers who want to cut costs on their DIY projects.

Due to the 24-hour availability of online stores, customers can make purchases whenever they want. Many e-commerce companies personalize offers and customer recommendations using algorithms and data analysis, which can improve the buying experience. Many customers switched to online shopping due to the COVID-19 pandemic to avoid direct contact and viral infection.

Environmentally Friendly Activities by DIY Home Improvement

Environment-friendly projects and initiatives, such as DIY combo kits, reusable snack bags, DIY un-paper towels, etc., by innovative companies, would drive the Asia-Pacific Do-It-Yourself (DIY) home improvement market during the forecast period. The increasing population in countries like India, China, and other countries has an ample need for natural resources to sustain itself. There is an increasing awareness among the people of these regions to be environmentally friendly. Through sustainable development in the Asia-Pacific, DIY home improvement products could attract a larger customer base into their market.

APAC DIY Home Improvement Industry Overview

The Asia-Pacific DIY home improvement market is moderately consolidated in market share. Some of the major players operating today dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.

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