Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing Market by Type (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 Country Analysis (China, India, Japan, South-Korea, Australia, and Rest of Asia-Pacific): Global Opportunity Analysis and Industry Forecast, 2021–2028

Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing Market Analysis

According to the Asia-Pacific do-it-yourself (DIY) home improvement retailing market forecast, the market size is expected to reach up to $87,135.4 million by 2028, surging from $64,439.5 million in 2020, at a noteworthy CAGR of 3.9%.

Market Synopsis

Leveraging urbanization in Asia-Pacific countries to boost the Asia-Pacific do-it-yourself (DIY) home improvement retailing market growth.

However, lack of skilled professionals to decline the market growth.

According to the country analysis of the rest of Asia-Pacific do-it-yourself (DIY) home improvement retailing market, the rest of Asia-Pacific market is expected to surge at a CAGR of 4.4%, by generating a revenue of $25,961.5 million, throughout the analysis period.

Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing Overview

Do-it-yourself (DIY) is the activity of designing and modifying any particular project yourself. This technique allows customers to develop eye-catching projects without any professional help. It is a comprehensive term that mainly refers to developing or modifying innovative products like shoe holders, letter boards, wall painting, and many others.

COVID-19 on the Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing Market

The Asia-Pacific market for do-it-yourself (DIY) home improvement retailing has witnessed a significant growth, throughout the COVID-19 situation. During the pandemic period, some of the retailers adopted advanced technologies such as internet of things (IoT), augmented reality (AR), and other technologies to provide improved user experience to customers. For instance, in November 2020, Flipkart, a leading e-commerce and DIY home improvement product provider company in India, acquired Scapic, a company engaged in visual technology, to adopt augmented reality technology to offer better user experience to its customers. The company has observed a change in consumer experience and rise in online shopping due to pandemic, and thereby, the company has incorporated innovative technologies to improve consumer experience while using Flipkart application and website. Through this strategy, the company has enhanced its magnificent shopping experience capability through AR technology. This factor has had a significant impact on the technology segment of the Asia-Pacific do-it-yourself (DIY) home improvement retailing market in the pandemic period.

Leveraging Urbanization in Asia-Pacific Countries to Boost the Market Growth

Due to both overall population surge and demographic shifts, Asian countries have witnessed significant expansion in urbanization in the past few years. Dominance in retail sector of the population giants namely India, China, Pakistan, Indonesia, and Bangladesh, immense urban increments, and the prominence of megacities are some the factors responsible for the surge in urbanization. Countries like China and India are anticipated to flourish amidst urbanization across the globe. For instance, as per information provided by the United Nations (UN), an intergovernmental organization aiming to achieve international cooperation and maintain international peace, India comprises 416 million urban residents and China has 255 million. Together, China and India may account for almost 35% of the expected rise of the global urban population between 2018 and 2050. All these factors showcase that the standards of living in the region have notably improved, which may ultimately drive the Asia-Pacific do-it-yourself home improvement retailing market during the analysis period.

To know more about Asia-Pacific do-it-yourself (DIY) home improvement retailing market drivers, get in touch with our analysts here

Lack of Skilled Professionals to Decline the Market Growth

Availability of less quality products owing to a smaller number of professionals operating in the DIY home improvement retailing market is projected to limit the growth of the Asia-Pacific market, during the analysis period. Furthermore, some of the challenges associated with DIY home improvement retailing products, such as time management & skilled work to produce DIY products, are predicted to hinder the market growth.

Growing Emphasis on Environmentally Friendly DIY Projects is Expected to Create Immense Opportunities in the Market

In recent years, DIYers are increasingly focusing on zero-waste DIY projects to create eco-friendly homes. In these projects, DIYers develop sustainably and safely made products. In addition to this, Asian customers are also showing interest for eco-friendly DIY products which are significantly healthier and cost effective. Hence, several innovative companies are coming up with attractive ideas to expand their customer reach. For instance, in August 2021, Indus Valley Bio Organic, India's natural care products provider, announced the official launch of 26 DIY combo Kits that are 100% organic with an affordable price ($3-$5). Such initiatives are further expected to create enormous opportunities in the Asia-Pacific do-it-yourself (DIY) home improvement retailing market.

Along with Indus Valley Bio Organic, various other DIY product manufacturers are providing a broad range of products such as DIY un-paper towels, reusable snack bags, and DIY disinfectant wipes that are easily reusable and recyclable to meet zero waste standards. Such factors are also projected to create positive impact on the Asia-Pacific do-it-yourself (DIY) home improvement retailing market.

To know more about Asia-Pacific do-it-yourself (DIY) home improvement retailing market opportunities, get in touch with our analysts here

Source: Research Dive Analysis

The painting sub-segment is expected to have the lucrative growth in the Asia-Pacific market and register a revenue of $15,790.4 million by 2028.
The significant growth of painting sub-segment for Asia-Pacific do-it-yourself (DIY) home improvement retailing market is mainly driven by the availability of comprehensive range of DIY paint products such as terrace wall proofing, self-painting kit, frost effect spray, and crackle effect spray, among others. Furthermore, several prominent companies of paint & coating industry like Berger Paints India Limited, Asian Paints, and others are following strategies like product introduction in order to expand in the marketplace. For example, in August 2020, Asian paints, a Mumbai-based Indian multinational paint company, announced to introduce a new DIY spray product called ‘ezyCR8’ that helps customers in beautifying their home décor without any help of outsourced contractors. Such novel product innovations along with increased disposable income among the population of developing countries like India, Malaysia, China, and Singapore are boosting the sub-segment growth.

Source: Research Dive Analysis

The online sub-segment is expected to have the lucrative growth in the Asia-Pacific do-it-yourself (DIY) home improvement retailing market and register a revenue of $7,034.8 million by 2028.
The online sub-segment has experienced lucrative market growth and is expected to register a noteworthy revenue, during the forecast period owing to the availability of huge DIY resources on online platforms. Moreover, the strong presence of giant ecommerce companies including Amazon, Inc., Alibaba Group Holding Ltd., eBay Inc., and Rakuten, Inc. and their effective strategies such as attractive discounts are also creating positive impact on the sub-segment’s growth.
Furthermore, elimination of human error, safe and comfortable shopping, easy availability of services, and massive penetration of smartphones among the emerging countries including China and India are some of the key factors accelerating the online sub-segment, during the analysis period.

The offline sub-segment is expected to have the dominating share in the Asia-Pacific do-it-yourself (DIY) home improvement retailing market and register a revenue of $80,100.5 million by 2028.
Offline distribution channels significantly help in building engagement with customers of the local market. Furthermore, the offline sales channel also offers both the reputation and experience to the demographic cluster. Also, lack of awareness regarding internet content & services among 65+ aged customers is also propelling the sub-segment growth, during the analysis period.
In addition to this, the rising popularity of Do-it-yourself projects in the adults & aged 65+ people, changing consumer lifestyle, and increasing urbanization are several elements fueling the sub-segment growth

Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing Market, Regional Insights:

The Asia-Pacific do-it-yourself (DIY) home improvement retailing market was investigated across China, India, Japan, South-Korea, Australia, and Rest of Asia-pacific.

Source: Research Dive Analysis

The Market for Asia-Pacific Do-it-yourself (DIY) Home Improvement Retailing in Rest of Asia-Pacific Region to be both Dominant and Lucrative

Rest of Asia-Pacific Do-it-yourself (DIY) home improvement retailing market accounted $18,392.1 million in 2020 and is projected to generate a revenue of $25,961.5 million by 2028.
Rest of the Asia-Pacific do-it-yourself (DIY) home improvement retailing market will witness exponential market growth mainly owing to the surge in the purchasing power of South-East Asian consumers. Also, growing state-of-the-art DIY product inventions, technological advancement, and heavy investment in the R&D activities are some of the factors that will flourish the market for do-it-yourself (DIY) home improving retailing products and further fuel the growth of rest of the Asia-pacific Do-it-yourself (DIY) home improvement retailing market. Furthermore, government’s supportive policies and growing urbanization particularly in Malaysia, Thailand, Myanmar, and Singapore will foster the market for do-it-yourself (DIY) home improving retailing in the rest of the Asia-Pacific region.

Competitive Scenario in the Global Do-it-yourself (DIY) Home Improvement Retailing Market

Treatment type launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading do-it-yourself (DIY) home improvement retailing market players are Asian Paints, MR.DIY, Nendo Inc, Allo Innoware., MINISO CO.LTD, Home Depot Product Authority, LLC., Marshalls, B&Q, Bunnings Australia, and UBYLD RETAIL PRIVATE LIMITED.

Porter’s Five Forces Analysis for Do-it-yourself (DIY) Home Improvement Retailing Market:

• Bargaining Power of Suppliers: Huge number of active suppliers, moderate size of individual suppliers, and retailers with exclusive features are some of the reasons that are responsible for the low bargaining power of suppliers.
  Hence, the bargaining power of suppliers is low.
• Bargaining Power of Buyers: Low switching costs i.e., ease of choosing other DIY retailers provides bargaining power to buyers. In addition to this, the moderate population of buyers across the globe is one of the major reasons for buyers shifting to other firms. 
  The bargaining power of the buyer is high.
• Threat of New Entrants: New companies (startups) are likely to compete in the DIY home improvement industry even if there are many major players. Start-ups are using key development strategies namely innovation in the new products & services and effective partnerships. These activities significantly drive the window of profits for the new players.
  Hence, the threat of new entrants is high.
• Threat of Substitutes: The threat of substitute products is quiet low; this is mainly because substitute product can’t offer a better value proposition.
  The threat of substitutes is low.
• Competitive Rivalry in the Market: Asia-Pacific do-it-yourself (DIY) home improvement retailing market has multiple small, medium, and large enterprises. These players are coming up with advanced DIY product inventions and development strategies such as capacity expansion & effective alliances.
  The competitive rivalry in the industry is high.