Home Decor Market Size, Share and Trends

Home Decor Market

The Home Decor Market is anticipated to expand at a remarkable CAGR during the forecast period (2020-2027).

The factors driving the growth of Home Decor Market includes rapid expansion of the interior designing industry, increasing demand for decorative items such as wall paints, table lamps and cushions and growing consciousness about environment friendly home décor products. According to the report published by Bloomberg, the Global Furniture Market was calculated at USD 595 Billion in 2021 and is projected to reach USD 722 billion 2028, growing at a CAGR of 5.6% over the forecast period (2022-2028), which will boost the Global Home Decor Market. Moreover, the easy accessibility to home decor products through e-commerce platforms and traditional stores, growing population rates and rising purchasing power of consumers, are some of the additional factors supplementing the Home Decor Market size. As per the data available at Statista, the sales of furniture and home furnishing through e-commerce platforms in the United States is expected to increase from USD 132.7 billion in 2021 to reach around USD 208.2 billion by the end of 2025.

However, the growth of Home Decor Market is hindered due to fluctuations in the prices of raw materials.

The major players operating in the market are Koninklijke Philips N.V, Suofeiya Home Collection Co., Ltd., Herman Miller, Inc., Hanssem Corporation, Springs Window Fashions LLC, HOME24, IKEA Systems B.V. and Kimball International, Inc. among others.

Product: Segment Analysis

According to the Home Decor Market Trends, the furniture segment is projected to capture the largest market share over the forecast period. The growing demand for furniture in the commercial and residential complexes and increasing consumers preference for enhancing the overall beauty of their houses through decorative furniture, are some of the key factors responsible for the growth of the segment.

Application: Segment Analysis

Based on application, the indoor segment is expected to grow at a significant CAGR during the forecast period due to increase in consumers spending towards innovative furnishing and growing demand for foldable furniture.

Regional: Segment Analysis

As per the Home Decor Market Analysis, the North American region is predicted to expand at a higher CAGR over the forecast period. The growing demand for furniture items through online platforms, strong internet penetration, rapid growth in the real-estate industry, rising population, and high per-capita income, are some of the important factors augmenting Home Decor Market share in the North American region.

Market Segmentation

Global Home Decor Market by Product

• Furniture

• Textile

• Flooring

• Others

Global Home Decor Market by Application

• Indoor

• Outdoor

Global Home Decor Market by Distribution Channel

• Supermarkets & Hypermarkets

• Specialty Stores

• E-commerce

• Others

Global Home Decor Market by Region

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• North America

  • United States of America

  • Canada

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: www.gmiresearch.com