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Sustainable Home Decor Market Value to be $556.3 Billion Forecast from 2021-2031
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The art of creating both aesthetically pleasing interior and exterior spaces that are also practical for occupants is known as sustainable home decor. The sustainable home decor items range from furniture to floor coverings like tiles, wood & laminate, vinyl & rubber, carpets & rugs, and others. They also include home textiles like rugs, bath textiles, bed textiles, kitchen & dining textiles, and living room textiles. Through machine-based and handcrafted procedures, furniture designs can be altered. In developed nations like the U.S., Canada, and Germany, the use of sustainable home decor products is quite widespread, but in rising nations like China, Brazil, and India, consumer demand is expected to grow steadily.
Due to an increase in the population of affluent people, the global market for sustainable home decor has been expanding in emerging economies. Additionally, customers' demand for eco-friendly, sustainable home decor products has changed as a result of increased environmental consciousness, which is a major driving force behind market expansion worldwide. Additionally, rising consumer disposable income in developed and emerging markets drives market expansion. In addition, intensive marketing campaigns and celebrity endorsements have made a big difference in the expansion of the global market. However, the availability of low-quality and counterfeit goods as well as variations in the cost of the raw materials used to make these products limit market expansion.
The global sustainable home decor market is segmented into product type, price point, income group, distribution channel, and region. On the basis of product type, the market is divided into furniture, home textile, and floor covering. As per price point, it is categorized into mass and premium. By income group, it is fragmented into lower-middle income, upper-middle income, and higher income. Depending on distribution channel, it is segregated into supermarkets and hypermarkets, specialty stores, e- commerce, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Learnings
With a market revenue contribution of $155,516.0 million in 2021 and an estimated $263,618.8 million by 2031, the floor covering category led all product types in terms of CAGR.
The mass sector, depending on price point, contributed the most to the market's revenue in 2021, with $196,728.8 million, and is anticipated to reach $324,776.1 million by 2031, with a CAGR of 5.3%.
By income group, the higher income sector contributed the most to the market's revenue with $122,273.2 million in 2021. With a CAGR of 5.6%, it is predicted to reach $208,730.5 million by 2031.
The specialty shops category, which was the largest revenue contributor to the market by distribution channel in 2021 with $159,418.8 million, is anticipated to grow to $262,007.2 million by 2031 with a CAGR of 5.2%.
Asia-Pacific was the region that contributed the most to global revenue, accounting for $104,272.3 million in 2021, and is expected to grow at a CAGR of 5.4% to reach $173,570.2 million by 2031.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current sustainable home décor market trends, estimations, and dynamics of the sustainable home decor market analysis from 2021 to 2031 to identify the prevailing sustainable home decor market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the sustainable home decor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the sustainable home décor market analysis of the regional as well as global sustainable home decor market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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