Home Decor Market Size, Trends, Growth 2022-2027
Home décor Outlook
Home décor refers to aesthetic components that are used to make a home visually appealing. It effectively portrays the client’s lifestyle by using artistic accessories and furnishings to provide a more pleasant and aesthetic appeal to the apartment. Some common home décor items include furniture, quoted wall hangers, wooden wall shelves, tealight candle holders, showpieces, scented candles, key holders, flower vases, and decorative mirror stickers. These products can be customized using handcrafting and machine-based processes to efficiently design internal and external spaces. Besides this, it also comprises home textiles, such as dining, bath, kitchen room, bedroom, and living room textiles and laminated floor coverings.
What was the size of the global home decor market in 2021?
The global home decor market size reached a value of US$ 682 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 898.3 Billion by 2027, exhibiting at a growth rate (CAGR) of 4.8% during 2022-2027.
Home Décor Market Trends:
Rapid urbanization and globalization are one of the primary factors driving the home décor market growth. This is further supported by the inflating consumer per capita income and the rising remodeling, construction, and renovating activities in residential and commercial spaces.
Moreover, the increasing environmental awareness among consumers has surged the demand for eco-friendly products, which, in turn, is accelerating the market growth. Additionally, the rising internet penetration, the shifting consumer reliance on smartphones, and the easy availability of home décor products in online retail stores are bolstering the market growth. Apart from this, the shifting population from rural to urban areas and the growing middle-class population are creating a positive outlook for the market.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Who are the key players/companies in the global home decor market?
The competitive landscape of the industry has also been examined along with the profiles of the key players
- Ashley Furniture Industries Inc.
- Duresta Upholstery Ltd.
- Forbo Holding AG
- Herman Miller Inc.
- Inter IKEA Systems B.V.
- Kimball International Inc.
- Koninklijke Philips N.V.
- Mannington Mills Inc.
- Mohawk Industries Inc.
- Hanssem Co., Ltd.
- Siemens AG
- Springs Window Fashions LLC
- Suofeiya Home Collection Co. Ltd.
- Samson Holding Ltd
- Shaw Industries Group Inc. (Berkshire Hathaway Inc.)
- Sophia Home
Key Market Segmentation:
The report has categorized the market based on product type and distribution channel.
Breakup by Product Type:
- Home Furniture
- Home Textiles
- Wall Decor
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Home Decor Stores
- Gift Shops
- Direct to Consumer
- Online Stores
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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