Home Decor Market Size, Share, Growth, Forecast Report
Home Decor Market
The global home dรฉcor market size was valued at USD 697.91 billion in 2023. The market is expected to expand from USD 747.75 billion in 2024 to USD 1,097.51 billion by 2032, exhibiting a CAGR of 4.91% over the study period.
Decorative accents, such as scented candles, throw pillows, and artworks, lead to improvement in the aesthetics of the living spaces. The surging trend of decoration of outdoor living spaces and home gardening is set to bolster the market expansion.
The COVID-19 pandemic led interior designers to adopt virtual consultations and meetings, and enabled them to deliver personalized interior products online. This shift, coupled with the increased use of design software and applications for virtual living room interiors, positively impacted market development.
Fortune Business Insightsโข provides this information in its research report, titled “Home Decor Market, 2024-2032”.
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๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐๐ง๐ญ๐ข๐จ๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐จ๐ฆ๐ ๐๐๐๐จ๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ:
โฃ 1888 Mills, LLC. (U.S.)
โฃ Inter IKEA Systems B.V. (Netherlands)
โฃ Williams-Sonoma Inc. (U.S.)
โฃ Ashley Furniture Industries, LLC. (U.S.)
โฃ Idea Nuova (U.S.)
โฃ Ethan Allen Global, Inc. (U.S.)
โฃ American Textile Company (U.S.)
โฃ Ralph Lauren Corporation (U.S.)
โฃ Welspun Flooring (India)
โฃ Kimball International, Inc. (U.S.)
โฃ Herman Miller, Inc. (U.S.)
โฃ Steelcase, Inc. (U.S.)
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Technological Advancements in the Design of Floor Covering Products to Spur Segment Expansion
On the basis of product, the market is classified into floor covering, furniture & home furnishings, home textile, and others. The floor covering segment occupies the major home dรฉcor market share. The developments in technology in the material composition and design of floor covering products impact households to install floorings.
Discount Coupon Offerings Fosters Hypermarkets/Supermarkets Segment Growth
In terms of distribution channel, the market is divided into specialty stores, online channels, hypermarkets & supermarkets, and others. The hypermarkets & supermarkets segment holds the leading position in the market due to the consistent provision of discount coupons associated with dรฉcor products by these stores aids product demand.
On the regional front, the market for home dรฉcor is segregated into South America, the Middle East & Africa, North America, Europe, and Asia Pacific.
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The report includes:
โฃ Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
โฃ Comprehensive insights into regional developments.
โฃ List of major industry players.
โฃ Key strategies adopted by the market players.
โฃ Recent industry developments include product launches, partnerships, mergers, and acquisitions.
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Constant Smart Home Offerings to Accelerate Market Growth
The consistent expansion in offerings of smart home with speakers, aesthetic home appliances, and smart decorative lighting boosts product consumption growth rates in several nations across the globe. Furthermore, the home dรฉcor market growth is impelled by the surging trend of purchasing connected technology-based dรฉcor products equipped with home security, next-generation entertainment, and personalized health management.
However, the steep cost of premium-priced products may hamper the market growth.
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Asia Pacific Due to Rising Number of Residential Infrastructural Facilities
Asia Pacific holds the largest home dรฉcor market share on the back of surging number of commercial and residential infrastructure facilities, which boost the demand for modern living room and kitchen furniture in Southeast Asia and China.
Europe’s market growth is driven by growing demand for sustainable products coupled with efforts of manufacturers toward the production of home dรฉcor products made using eco-friendly materials.
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Top Companies Focus on Mergers and Acquisition Strategies to Create Their Product Portfolio
Market players are leveraging different strategic initiatives, such as joint ventures, capacity expansions, and product innovations, to keep ahead of their competition. Prominent companies launch newer stores to boost their retail footprint across the globe. Leading players in the home dรฉcor market are also emphasizing mergers & acquisition strategies to build their product portfolio.
๐๐๐๐ ๐๐๐ฅ๐๐ญ๐๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
Furniture Market
Luxury Furniture Market
Kitchen Appliances Market
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โข May 2024: Remax Furnitures, an Indian luxury furniture brand, launched a new store in New Delhi, India, to expand its retail presence in the country.
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This release was published on openPR.
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