Home Decor Market

Home Decor Market

Growth Factors of Home Decor Market

The home decor market size was valued at USD 697.91 billion in 2023, and the market is now projected to grow from USD 747.75 billion in 2024 to USD 1097.51 billion by 2032, exhibiting a CAGR of 4.91% during the forecast period of 2023-2030.

The COVID-19 pandemic negatively impacted the industry, resulting in supply chain issues and variations in demand leading to reduction in home decor market growth. Despite global efforts to manage disruption, the sector is gradually rebounding. Product demand is rebounding due to increased industrial activity and technological improvements, indicating a good market recovery. Investors in the refrigerants business encountered obstacles such as limited options, high material costs, and delayed project cycles.

Product consumption growth rates are driven by the steady expansion of smart home offerings, which include attractive home appliances, speakers, and smart decorative lighting in various nations across the world. Further driving market expansion is the growing trend of purchasing connected technology-based décor items with features like home security, personalized health management, and next-generation entertainment. The real estate sector is expanding due in part to the changing nature of the market as well as the expansion of residential and commercial infrastructure. Global product revenues are driven by growing customer desire for personalized décor options and custom-made interior products, such as DIY craft supplies and monogrammed items. Product demand is also accelerated by households' growing preference for functional furniture that is custom-made and has features like easy entryway alternatives, storage solutions, and home office product upgrades.

Additionally, rising consumer preferences towards eco-friendly and recycled/upcycled home goods will likely support the expansion of the home décor industry. Furthermore, expanding the supply of sustainably produced goods from manufacturers helps to promote the market's sustainable growth by reducing the amount of waste generated during the manufacturing process. These specially designed materials perform better than conventional metal and stone materials and are lightweight, strong, and patentable.

Comprehensive Analysis of Home Decor Market

The home decor market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by product and by distribution channel. The types of products include, Home Textile, Floor Covering, Furniture & Home Furnishings, and others. However, the distribution channel includes Hypermarkets & Supermarkets, Specialty Stores, Online Channels. Home textile segment will hold major home decor market share during projected period.

In home decor market, the Asia Pacific region lead the home devices market by benefitting a market size of USD 317.20 billion in 2023 owing to purchasing connected technology-based décor items and growing customer preferences for eco-friendly and recycled.

The top players in the market play a crucial role in the home decor industry assuring industrial prospectus growth and setting market standards. These players include, (U.S.), Herman Miller,Inter IKEA Systems B.V. (Netherlands), Williams-Sonoma Inc. (U.S.), Ashley Furniture Industries, LLC. (U.S.), 1888 Mills, LLC. (U.S.), Idea Nuova (U.S.), American Textile Company (U.S.), Ralph Lauren Corporation (U.S.), Welspun Flooring (India), Ethan Allen Global, Inc. (U.S.), Kimball International, Inc. Inc. (U.S.) and Steelcase, Inc. (U.S.) these market players provide a level-playing competitive landscape.

In March 2024, A chic furniture boutique named as FabCuro has widen its retail footprint in Indiranagar, Bengaluru, India, by opening a new location.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 4.91% during 2024-2032

Unit Value (USD Billion)

Segmentation By Product

• Home Textile
• Floor Covering
• Furniture & Home Furnishings
• Others

By Distribution Channel

• Hypermarkets & Supermarkets
• Specialty Stores
• Online Channels
• Others

By Region

• North America (By Product, Distribution Channel, and by Country)

- U.S. (By Product)

- Canada (By Product)

- Mexico (By Product)

• Europe (By Product, Distribution Channel, and by Country)

- Germany (By Product)

- France (By Product)

- Italy (By Product)

- Spain (By Product)

- U.K. (By Product)

- Russia (By Product)

- Rest of Europe (By Product)

• Asia Pacific (By Product, Distribution Channel, and by Country)

- China (By Product)

- India (By Product)

- Japan (By Product)

- Australia (By Product)

- Rest of the Asia Pacific (By Product)

• South America (By Product, Distribution Channel, and by Country)

- Brazil (By Product)

- Argentina (By Product)

- Rest of South America (By Product)

• Middle East & Africa (By Product, Distribution Channel, and by Country)

- UAE (By Product)

- South Africa (By Product)

- Rest of the Middle East & Africa (By Product)


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