Home Decor Market
The global home décor 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 Insights™ provides this information in its research report, titled “Home Decor Market, 2024-2032”.
𝐆𝐞𝐭 𝐀 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐌𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐇𝐨𝐦𝐞 𝐃𝐞𝐜𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
‣ 1888 Mills, LLC. (U.S.)
‣ Inter IKEA Systems B.V. (Netherlands)
‣ Williams-Sonoma Inc. (U.S.)
‣ Ashley Furniture Industries, LLC. (U.S.)
‣ Idea Nuova (U.S.)
‣ Ethan Allen Global, Inc. (U.S.)
‣ American Textile Company (U.S.)
‣ Ralph Lauren Corporation (U.S.)
‣ Welspun Flooring (India)
‣ Kimball International, Inc. (U.S.)
‣ Herman Miller, Inc. (U.S.)
‣ Steelcase, Inc. (U.S.)
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: 𝐇𝐨𝐦𝐞 𝐃𝐞𝐜𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭
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 décor 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 décor products by these stores aids product demand.
On the regional front, the market for home décor is segregated into South America, the Middle East & Africa, North America, Europe, and Asia Pacific.
𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞:
The report includes:
‣ Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
‣ Comprehensive insights into regional developments.
‣ List of major industry players.
‣ Key strategies adopted by the market players.
‣ Recent industry developments include product launches, partnerships, mergers, and acquisitions.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫
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 décor market growth is impelled by the surging trend of purchasing connected technology-based décor 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.
𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞 𝐍𝐨𝐰:
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬
Asia Pacific Due to Rising Number of Residential Infrastructural Facilities
Asia Pacific holds the largest home décor 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 décor products made using eco-friendly materials.
𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
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 décor market are also emphasizing mergers & acquisition strategies to build their product portfolio.
𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Furniture Market
Luxury Furniture Market
Kitchen Appliances Market
𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
• 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.
𝗖𝗼𝗻𝘁𝗮𝗰𝘁 𝗨𝘀:
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This release was published on openPR.
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