Decorative Accessories Market Size, Share, and Overview 2034

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What Will the Decorative Accessories Industry Market Size Be by 2025?
The decorative accessories market has shown significant growth in recent years. It is expected to increase from $249.66 billion in 2024 to $271.22 billion in 2025 at a CAGR of 8.6%. This expansion in the past was driven by higher home renovation activities, growing disposable incomes, rapid urbanization, the rise of e-commerce, and increasing investments in real estate.

What's the Long-Term Growth Forecast for the Decorative Accessories Market Size Through 2029?
The market for decorative accessories is anticipated to witness a robust growth in the upcoming years, reaching a market size of $377.33 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 8.6%. The surge in this period can be credited to the increasing demand from the hospitality sector, growing consciousness about home décor, escalating demand for smart decor, the impact of social media, and rising fondness for minimalist design. Key trends projected during this period involve the incorporation of smart homes, integration with augmented reality, recommendations for home decor powered by AI, 3D printed decor, and the embrace of virtual showrooms.

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What Are the Key Growth Drivers Fueling the Decorative Accessories Market Expansion?
The surge in home refurbishment and redesign undertakings are projected to stimulate the expansion of the decorative accessories market moving forward. The concept of home refurbishment and redesign involves upgrading, reviving, or transforming household spaces to amplify their functionality, aesthetic appeal, and worth. The escalated demand for home upgrades is a result of the need to craft personalized and practical living areas, giving homeowners a sense of gratification and dominion over their living space. Decorative accessories amplify home refurbishment and redesign by infusing character, elegance, and unity to spaces, flawlessly merging architectural components, color palettes, and furniture for a sleek, welcoming ambiance. For example, in March 2024, Houzz, a US-based home redesign and remodeling platform, reported a boom in homeowners' expenditure on home enhancements over the past three years, with medium refurbishment costs escalating 60% from $15,000 to $24,000 in 2023. In 2023, 51% of homeowners expended $25,000 or more on upgrades, a rise of 37% from the past three years. Consequently, the escalating home refurbishment and redesign undertakings are catalyzing the growth of the decorative accessories market.

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What Are the Key Trends Driving Decorative Accessories Market Growth?
Leading firms in the decorative accessories market are shifting towards the creation of innovative theme-based decorations to meet the changing tastes of consumers who prefer personalized and attractive interior designs. Theme-based decoration entails adding decor to a room that aligns with a single concept or style for a consistent appeal. To illustrate, At Home Group Inc., a renowned décor superstore in the U.S., unveiled Honeybloom, a privately-labeled modern farmhouse home décor collection, in August 2022. This range includes an assortment of items like furniture, rugs, wall decor, and seasonal items, all crafted to induce a sense of warmth and unity with a touch of sophistication. This aligns with At Home's goal of providing unique designs at affordable prices in over 250 stores.

How Is the Decorative Accessories Market Segmented?
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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Which Companies Are Leading the Charge in Decorative Accessories Market Innovation?
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

Which Regions Are Leading the Global Decorative Accessories Market in Revenue?
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.

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