Home Decor Market 2020 | Know the Latest COVID19 Impact Analysis And Strategies of Key Players: Inter IKEA Group, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills Inc., Mohawk Industries

Home Decor Market is expected to garner $664.0 billion by 2020, registering a CAGR of 4.2% during the forecast period 2015-2020.

Growing consumer's interest towards the concept of home décor has significantly boosted the market growth. High growth in urban population and booming real estate industry in emerging economies have fostered the high sales volume of home décor products. Asia-Pacific is leading the global home décor market, owing to the high demand from residential buyers. It is estimated that Asia-Pacific would exhibit a significant growth trend during forecast period owing to the increasing demand for home décor products from countries such as India & China. Number of houses and size of households are also expected to affect the market growth. According to China's National Bureau of Statistics, Chinese construction industry is expected to rise from US$2 trillion in 2014 to US$2.5 trillion in 2019, further, indicating that home décor market in Asia region is expected to grow in tandem with real estate market.

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Nowadays, consumers prefer online retail platforms for buying furniture, owing to availability of a wide array of home decor products at discounted/affordable price. Increasing cost of raw materials, such as leather and superior quality wood, is limiting the market growth. Improving lifestyle and increasing disposable income of individuals would offer several growth opportunities to the players operating in the market.

The world home decor market is segmented on the basis of products and geography. The product segment is further segmented into furniture, textiles and floor coverings. The furniture segment is sub-segmented into kitchen, living & bedroom, bathroom, outdoor and lighting. The textiles segment is further categorized into rugs textiles, bath textiles, bed textiles, kitchen & dining textiles and living room textiles. The floor coverings segment includes tiles, wood & laminate, vinyl & rubber, carpets & rugs and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA regions.

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Global home decor market comprises players such as Inter IKEA Group, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills Inc., Mohawk Industries Inc., Shaw Industries, Herman Miller Inc., Ashley Furniture Industries, Inc., Kimball International and Duresta Upholstery Ltd. The leading players are acquiring smaller players to widen their customer base. Leading players are consistently introducing new products with a wide range of design and style in order to increase their market share. Besides this, many furniture manufacturers are partnering with interior designers to create and offer a wide range of customized furniture.

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