Surge In Home Renovation And Remodeling Activities Driving Growth Of Market Due To Increasing Demand For Aesthetic Enhancements: An Emerging Driver Transforming The Decorative Accessories Market Landscape

The Decorative Accessories Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Decorative Accessories Market?
The market size for decorative accessories has seen a robust increase in the past few years. It is predicted to move upwards from a value of $76.78 billion in 2024 to hit $82.34 billion in 2025, which represents a compound annual growth rate (CAGR) of 7.2%. This growth in previous years has been tied to factors such as an increase in home renovation activities, growth in disposable income, urbanization, e-commerce expansion, and an increase in real estate investments.

Anticipated robust growth in the decorative accessories market is setting it up for a projected reach of $107.75 billion in 2029, powered by a compound annual growth rate (CAGR) of 7.0%. The factors predicted to fuel this growth during the forecast period encompass an increase in demand from the hospitality sector, a rise in consumer awareness around home decor, escalating demand for smart decor, a growing impact of social media as well as the trending minimalist design style. Key trends that are set to revolutionize the industry during the forecast period comprise of integrating smart home technologies, incorporating augmented reality, using AI for home decor advice, adopting 3D printed decor, and the emergence of virtual showrooms.

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What Are the Different Decorative Accessories Market Segments?
The decorative accessories market covered in this report is segmented -

1) By Product Type: Lamp And Lighting, Pottery And Vases, Home Décor, Pillows, Rugs, Other Product Types
2) By Material: Metal, Wood, Glass, Ceramic, Fabric, Other Materials
3) By Distribution Channel: Hypermarkets And Supermarkets, Specialty Stores, Departmental Stores, Online, Other Distribution Channels
4) By Application: Residential, Institutions, Corporate Offices, Malls, Other Applications

Subsegments:

1) By Lamp And Lighting: Table Lamps, Floor Lamps, Chandeliers, Pendant Lights, Wall Sconces, LED Decorative Lights
2) By Pottery And Vases: Ceramic Vases, Glass Vases, Metal Vases, Stoneware Pottery, Terracotta Pottery, Porcelain Vases
3) By Home Décor: Wall Art, Clocks, Mirrors, Figurines and Sculptures, Decorative Trays, Candle Holders
4) By Pillows: Throw Pillows, Floor Cushions, Outdoor Pillows, Bolster Pillows, Decorative Pillow Covers
5) By Rugs: Area Rugs, Runner Rugs, Outdoor Rugs, Handmade Rugs, Machine-Made Rugs, Shag Rug
6) By Other Product Types: Picture Frames, Decorative Bowls, Artificial Flowers and Plants, Seasonal Decorations, Bookends, Wind Chimes

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What Are the Primary Drivers Shaping the Decorative Accessories Market?
The upswing in home renovation and remodeling endeavors is projected to boost the decorative accessories market's growth in the future. These activities entail enhancing, restoring, or altering residential areas to elevate their functionality, aesthetics, and value. The surge in demand for home renovation stems from the desire to establish personalized and operative living areas, delivering homeowners a sense of gratification and command over their surroundings. Decorative accessories contribute to the appeal and coherence of home renovation and remodeling, allowing for a flawless amalgamation of architectural components, color palettes, and furniture for a sophisticated, welcoming ambiance. To illustrate, data from Houzz, a US-based home remodeling and design platform, in March 2024, revealed a notable increase in home improvement expenditure by homeowners over the prior three years, with average remodeling expenses escalating 60%, from $15,000 to $24,000 in 2023. In the same year, over half (51%) of homeowners allocated $25,000 or more on renovations, a 37% increase from the past three years. Consequently, the escalating home renovation and remodeling activities have been instrumental in driving the growth of the decorative accessories market.

Which Companies Are Leading in the Decorative Accessories Market?
Major companies operating in the decorative accessories market are Berkshire Hathaway Inc., The Home Depot Inc., Lowe's Companies Inc., General Electric Company, Inter IKEA Holding B.V., H&M Home, Koninklijke Philips NV, Ashley Furniture Industries Inc., Wayfair Inc., Mohawk Industries Inc., Williams-Sonoma Inc., Bed Bath & Beyond Inc., Urban Outfitters Inc., MillerKnoll Inc., Zara Home, Pottery Barn, Rooms To Go Inc., Euromarket Designs Inc. (operating as Crate & Barrel), At Home Group Inc., Forbo Holding AG

What Are the Major Trends Shaping the Decorative Accessories Market?
Leading businesses in the decorative accessories market are targeting innovation in theme-based decoration to meet the changing desires of consumers for personalized and attractive home interiors. This type of decoration prioritizes the use of a consistent concept or design for a cohesive appearance. For example, At Home Group Inc., an American home décor superstore firm, launched Honeybloom, a proprietary modern farmhouse home décor range in August 2022. The assortment includes furnishings, carpets, wall decorations, and seasonal items, all intended to invoke a feeling of warmth and unity while maintaining a stylish look. The brand represents At Home's commitment to providing unique designs at competitive rates in over 250 stores.

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What Are the Top Revenue-Generating Geographies in the Decorative Accessories Market?
North America was the largest region in the decorative accessories market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Decorative Accessories Market?
2. What is the CAGR expected in the Decorative Accessories Market?
3. What Are the Key Innovations Transforming the Decorative Accessories Industry?
4. Which Region Is Leading the Decorative Accessories Market?

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