Home Décor Market - Global Industry Shares and Strategies of Major Key Players For 2017

Home Décor is a way that a house or apartment is decorated with various furnishings and accessories that make it look more appealing. Home Décor has recently gained importance in the global market where the generalists are learning the various ways in which they can keep their home looking brilliant and peaceful. The western countries have long ago started the trend of shaping and designing their home in a fashionable way that will allure the residents and other visitors. It also talks about the taste of the people and the aura in which they believe to stay.

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Home décor has been a popular consumer interest market for a decade now. The Growth of this market is increasing significantly, including the emerging economies where home accessories and other related products are gaining high acceptance. The impact of this factor is expected to increase during the forecast period due to the growth of the real estate industry in the large cities and transformation from traditional to urban living. Consumers in the developing economies are learning to renovate and redesign their homes in order to make it more attractive and a better place to live in. Consumers are connecting the idea of home décor with that of spirituality and aesthetic pleasures and the branded stores are offering their ideas and products in the similar manner. However, the home décor products are costly and it becomes slightly difficult for the whole world to grab the best look of their home at a stupendous price. It is certainly a matter of fact that the urbanization in countries of the Asia Pacific, Latin America are increasing where the purchasing power of individuals are also increasing to afford such luxuries in life.

The global home décor market can be segmented on the basis of product and distribution channel. Based on product, the market is broadly classified into home textile, floor covering and furniture. The furniture category has witnessed an increased adoption among consumers, owing to the increased disposable income along with the influence of western culture, especially growing adoption of modular kitchen and lighting. The furniture segment further encompasses the ones used in kitchen, living and bedroom, bathroom, outdoor and lighting. Furniture is used for domestic as well commercial purposes therefore various materials such as metal, wood, plastic, glass and leather are used solely or in combination with other materials to manufacture parts of furniture. Shape and structure with reference to design are important factors in the furniture industry as it directly influences the consumers’ decision to buy a particular product. Multifunctional furniture is gaining popularity among urban consumers. Furthermore, the distribution channel of home decor is can be categorized into specialty stores, boutique stores, departmental stores as well as the online platform. The online platform is well equipped with good door-to-door delivery and fitting services.

Geographically, home decor is expected to be a leading market across the globe. Regions like North America and Europe are the largest consumers of these type of products and the same is being propagated in to the developing regions like Asia- Pacific and Latin America. Recently the developing regions have been in great demand by the producers and the trend of such consumption is passing on to the developing countries. Therefore, Asia Pacific is expected to grow at the highest rate during the forecast period majorly due to urbanization compounded by lifestyle changes in the developing countries.

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The global market for home décor is highly consolidated. The prominent vendors in the market are Kimball International, Herman Miller, Ashley Furniture Industries Inc., Costco Wholesale, Herman Miller, Home24, J.C. Penney, Otto, Sears Holdings, Target and IKEA.

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