Demographic shifts boost APAC’s DIY home improvement retail market

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By: Retail Asia

The rise in population and demographic shifts in Asia Pacific has boosted the region’s do-it-yourself (DIY) home improvement retailing market, which is expected to see steady growth in the coming years, according to a report from Research Dive.

The market’s revenue is projected to grow at a 3.9% compound annual growth rate (CAGR) to $87.1b from 2021 to 2028, driven by the the dominance of populated countries like India, China, and Pakistan in the retail sector, immense urban increments, and prominence of megacities.

On the other hand, the lack of skilled professionals in the DIY home improvement sector is the major factor expected to hinder market growth, the report stated.

 

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