IMARC Group, a leading market research company, has recently releases report titled “Home Decor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global home decor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Table of Contents
How Big is the Home Decor Market?
|Market Size in 2022||US$ 715.4 Billion|
|Market Forecast in 2028||US$ 937.0 Billion|
|Growth rate (2023 to 2028)||CAGR of 4.7%|
|Base Year of the Analysis||2022|
What is Home Decor?
Home delivery is a service in which products or goods are transported from businesses directly to the customer’s residence. Characteristics of this service include convenience, timesaving, and the ability to shop from a wide range of options without leaving home. Its key features typically involve online ordering, tracking capabilities, and sometimes the choice of delivery speed. Home delivery finds its application in numerous industries, including the food and beverage industry, where it is utilized for restaurant meals and grocery items, the e-commerce industry for a multitude of products like clothing, electronics, and household items, the pharmaceutical industry for medications, and even the logistics industry for parcel and mail delivery.
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What are the Growth Prospects and Trends in the Home Decor Market?
One of the prime drivers is the global increase in disposable income, coupled with the growing desire for aesthetically pleasing and comfortable living spaces. With more resources at their disposal, consumers are investing in enhancing the ambiance and functionality of their homes. Simultaneously, the proliferation of e-commerce platforms is significantly contributing to the market expansion. Online retailers are offering a vast array of home decor products, allowing consumers to browse and purchase items from the comfort of their homes. This convenience, coupled with the ability to compare prices and view customer reviews, is boosting online sales and market growth of home decor items. The real estate industry is experiencing a surge, with an increasing number of residential buildings and apartments being built. This trend is directly fueling the demand for home decor items, as new homeowners seek to personalize their spaces. Additionally, the rising popularity of eco-friendly and sustainable home decor products is playing a significant role in market growth. The influence of social media and home decor influencers is another crucial driver.
Platforms like Instagram and Pinterest provide a wealth of decor ideas and inspiration, influencing consumer choices and trends. Influencers also play a pivotal role in promoting certain styles or products, further driving the market growth. Furthermore, the increased prevalence of remote work due to the ongoing digital transformation is prompting individuals to invest in their home offices. This trend is leading to an increased demand for decor items that create a productive and appealing work environment at home. The hospitality sector is also contributing to the home decor market. Hotels and restaurants strive to offer a unique and appealing ambiance to attract customers, thus they invest heavily in decor items which in turn, is bolstering the market growth. The increasing number of residential constructions and renovations are promoting the growth of the home décor market. The extensive demand for functional and space-saving home decor solutions in smaller living spaces are contributing to the market growth. Other factors such as technological advancements like augmented reality (AR) and research and developmental activities are propelling the growth of the home décor market across the globe.
Who are the Key Players Operating in the Home Decor Industry?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Ashley Furniture Industries Inc.
- Duresta Upholstery Ltd.
- Forbo Holding AG
- Herman Miller Inc.
- Inter IKEA Systems B.V.
- Kimball International Inc.
- Koninklijke Philips N.V.
- Mannington Mills Inc.
- Mohawk Industries Inc.
- Hanssem Co., Ltd.
- Siemens AG
- Springs Window Fashions LLC
- Suofeiya Home Collection Co. Ltd.
- Samson Holding Ltd
- Shaw Industries Group Inc. (Berkshire Hathaway Inc.)
- Sophia Home
What is Included in Market Segmentation?
The report has categorized the market based on product type, distribution channel and region.
Breakup by Product Type:
- Home Furniture
- Home Textiles
- Wall Decor
Based on Distribution Channel:
- Supermarkets and Hypermarkets
- Home Decor Stores
- Gift Shops
- Direct to Consumer
- Online Stores
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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