Wall Decor Market Size, By Product (Shelves, Wallpaper/Stickers, Clock, Hangings, Frameworks, Mirror Works), By Distribution (Wholesalers/Distributors, Hypermarkets/Supermarkets, Specialty Stores, Online Retailers), By End-use (Residential, Commercial), C

Wall Decor Market Size, By Product (Shelves, Wallpaper/Stickers, Clock, Hangings, Frameworks, Mirror Works), By Distribution (Wholesalers/Distributors, Hypermarkets/Supermarkets, Specialty Stores, Online Retailers), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2028

The wall decor market is estimated to amass substantial gains through 2028 on account of increasing consumer interest in key regions across the globe. Additionally, soaring availability of products on online channels, along with the proliferating e-commerce sector, is anticipated to further fuel market growth over the forecast timeline.

After the onset of COVID-19, government-imposed lockdown restrictions forced people to stay indoors in order to inhibit the spread of the novel coronavirus worldwide. This prompted consumers to invest in home improvement to optimize the available space in their homes, especially in light of the prevailing trends of remote work and education. Thus, soaring consumer preference for home improvement and renovation projects has been favorable for business growth during the pandemic.

Notably, rising efforts by companies to reach consumers by offering contemporary products at competitive prices has positively influenced the product landscape of the industry. Recently, industry players have also been implementing innovative strategies to extend their consumer reach, which has enhanced wall decor market dynamics.

For instance, in February 2022, Lowe’s, a major home improvement company, launched its novel multi-category private label brand for home décor under the name Origin21, which targets millennial buyers who are looking to modernize their home style. The novel collection consists of wall art, mirrors, lighting, decorative shelving, curtains, and furniture, among other products.

For extensive assessment, the wall decor market has been segmented in terms of product, distribution channel, end-use, and region. Based on product, the market has been divided into wallpaper/stickers, shelves, hangings, clock, mirror works, frameworks, and others.

The clock sub-segment is slated to exceed USD 8.5 billion in revenue by 2028, registering a solid CAGR through the analysis timeframe. Clocks are widely popular wall decor products across the globe. Surging availability of a broad range of products, coupled with the integration of several technologies, such as Bluetooth, advanced lighting, and so on, is expected to drive product consumption in the coming years.

With respect to distribution channel, the wall decor market has been classified into hypermarkets/ supermarkets, wholesalers/ distributors, online retailers, specialty stores, and others. The hypermarkets/ supermarkets sub-segment is projected to showcase a steady growth rate of approximately 5% CAGR through 2028 driven by the burgeoning presence of hypermarkets and supermarkets in emerging economies.

From the regional perspective, the North America wall decor market is speculated to generate around USD 8 billion in revenue by the end of 2028, progressing at a notable pace over the forecast period. Prevalent renovation activities in the region as well as the growing domestic commercial construction sector are set to facilitate regional market expansion in the forthcoming years.