The global home decor market was valued at $616.6 billion in 2019, and is estimated to reach $838.6 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027.
Home decor products such as furniture and textiles are installed across various settings, including spa, office, clean room, restaurants, camping, bedroom, outdoor, library, and stores.
The home dcor products include various items such as furniture, home textiles and floor coverings.
Depending on end use, furniture designs can be modified through machine-based processes and handcrafting.
The adoption of home decor products has been considerably high in the developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are witnessing steady increase.
The global home decor market is highly fragmented due to the presence of multiple vendors in both international and regional players.
Developing real estate industry is driving the growth of the global home decor market in the current scenario.
The global home decor market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period.
This is attributed to a surge in popularity of home dcor products such as furniture, home textile, and floor covering among consumers.
Moreover, rise in number of small-size houses has encouraged the use of products having facility for extra storage along with enhancing the aesthetical appearance of homes.
In addition, rise in popularity of eco-friendly home decor products among consumers, owing to increase in environment concerns significantly contribute toward the growth of the global market.
Moreover, an increase in disposable income and improvements in living standards in emerging countries such as China and India along with a rise in affinity of consumers toward luxury home decor products are growing the home decor market.
The presence of low-cost home decor producers in China and Vietnam is further anticipated to drive the growth of the global market.
However, the availability of low-quality and counterfeit products restricts the growth of the global market.
In addition, the dearth of skilled labor, ineffective transportation, and lack of infrastructure facilities may act as a hindrance for the global home decor market.
The global home decor market is segmented into product type, Income group, price point, distribution channel, and region.
On the basis of product type, the market is divided into furniture, ome textile, and floor covering.
Depending on distribution channel, it is segregated into supermarkets and hypermarkets, specialty stores, e-commerce, and others.
By income group, it is fragmented into lower-middle income, upper-middle income, and higher income.
As per price point, it is categorized into mass and premium. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
- IKEA Group
- Forbo International SA
- Armstrong World Industries Inc.
- Mannington Mills Inc.
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- Herman Miller Inc.
- Ashley Furniture Industries Ltd.
- Kimball International
- Duresta Upholstery Ltd
For more information, visit www.researchandmarkets.com