In 2023, home and garden in Singapore faced a slight slowdown in current value growth due to various factors, including global supply chain disruptions, rising inflation, and weakened foreign demand. These challenges contributed to a deceleration in the country’s economic development, exacerbated by tightening monetary policy and ongoing economic uncertainties.
In Singapore, indoor plants experienced heightened demand in 2023, fuelled by a rising demographic of “plant parents” post-pandemic, aiming to bring nature indoors and enhance interior aesthetics. A notable trend gaining momentum is the concept of indoor jungles, featuring large specimen plants such as maranta and Swiss cheese plants, creating a focal point within the home and extending to the balcony for an urban green retreat.
Home and garden in Singapore witnessed a diverse competitive landscape in 2023, characterised by contrasting performances amongst leading brands. Despite remaining the top brand in overall home and garden, Ikea faced a decline in its sales due to economic uncertainties and consumer preference shifting towards essential purchases.
In Singapore, growth in home furnishings was driven by the rise of e-commerce platforms in 2023. As digital technologies and online shopping continue to gain momentum, businesses are strategically recalibrating their operations to leverage this growing trend.
In the forecast period, home and garden in Singapore is anticipated to maintain current value growth, but witness a series of shifts and challenges across various categories. Gardening is expected to continue to see rising sales, but witness a significant slowdown from 2023.
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Understand the latest market trends and future growth opportunities for the Home and Garden industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Home and Garden industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
See All of Our DefinitionsThis report originates from Passport, our Home and Garden research and analysis database.
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