Press release
Home Decor Market size was valued at USD 718.55 Bn in 2023 and the total revenue is expected to grow at a CAGR of 3.9 percentage through 2024 to 2030
Home Decor Market
Home Decor Market size was valued at USD 718.55 Bn in 2023 and the total revenue is expected to grow at a CAGR of 3.9 percentage through 2024 to 2030, reaching nearly USD 939.21 Bn.
Home Decor Market Overview:
The global home decor market, valued at approximately USD 718.55 billion in 2023, is projected to grow to nearly USD 939.21 billion by 2030, driven by a compound annual growth rate (CAGR) of 3.9% during the forecast period. This growth is reflective of increased consumer interest in enhancing living spaces, spurred by heightened awareness of mental well-being and a desire to rejuvenate home environments after extended periods of quarantine. The sector has seen notable demand for decorative items such as lighting, wall art, and textiles, with companies like Godrej witnessing significant upticks in sales of soft furnishings.
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Drivers in the Home Decor Market:
Key factors fueling the expansion of the home decor market include the burgeoning real estate and commercial construction sectors, which are driving demand for home furnishings. The rise in renovation and remodeling projects, coupled with an increase in internet usage and the growth of e-commerce platforms, has significantly boosted online home decor sales. Consumers are increasingly drawn to the convenience and variety offered by online retailers, leading to substantial growth in this channel.
Home Decor Market Trends:
Recent trends in the home decor market reflect a shift towards personalized and functional home environments. With more people working from home, there is an increased focus on home-office furniture, including ergonomic chairs and study tables. The market is also seeing a rise in demand for eco-friendly and sustainable products, influenced by growing environmental consciousness and the desire for healthier living spaces.
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Home Decor Market Opportunities:
Opportunities in the home decor market are driven by evolving consumer preferences for high-quality, sustainable materials and innovative design solutions. The growing trend towards online shopping presents a significant opportunity for e-commerce platforms to expand their reach. Additionally, the increasing popularity of home improvement and renovation projects offers a robust avenue for growth, particularly for companies that can cater to the diverse and changing needs of homeowners.
What is Home Decor Market Regional Insight?
North America is anticipated to dominate the global home decor market during the forecast period, with substantial market share driven by increased accessibility to diverse decor products and a high level of consumer expenditure on home furnishings. The United States, in particular, leads in the outdoor furniture segment, supported by a strong market presence and significant consumer willingness to invest in home decor.
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Segmentation Analysis of the Home Decor Market
by Product Type
Furniture
Home Textile
Floor Covering
by Price
Premium
Mass
by Income Group
LOWER-MIDDLE INCOME
UPPER-MIDDLE INCOME
HIGHER INCOME
by Distribution Channel
Supermarkets & Hypermarkets
Specialty Stores
E-commerce
Others
Who is the largest manufacturers of Home Decor Market worldwide?
1. Inter IKEA Systems BV
2. Forbo International SA
3. Armstrong World Industries, Inc.
4. Mannington Mills Inc.
5. Mohawk Industries Inc.
6. Shaw Industries Group, Inc.
7. Herman Miller Inc.
8. Ashley Furniture Industries Ltd.
9. Kimball International
10.Duresta Upholstery Ltd.
11.home24
12.Hanssem Corporation
13.Koninklijke Philips N.V.
14.Conair Corporation
15.Suofeiya Home Collection Co., Ltd.
16.Springs Window Fashions LLC
17.Siemens AG.
18.J.C. Penney
19.Otto
20.Sears Holdings
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Key Offerings:
Past Market Size and Competitive Landscape
Home Decor Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Home Decor Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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