According to IMARC Group’s latest report, titled “Home Décor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 682 Billion in 2021. Home décor involves a variety of products used in the decoration of an apartment or a house. It primarily includes household furniture, textiles, lamps, floor coverings, pots, candles, artifacts, furnishing items, etc. Home décor is an effective way of portraying the lifestyle that a consumer believes in and keeps the home more attractive and organized.
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Rapid development in the real estate sector and a significant shift of the population from rural to urban areas are majorly driving the global home décor market. Besides this, the growing consumer preference toward remodeling and renovating their homes after particular periods is further fueling the demand for luxury home décor items across the globe. Moreover, increasing environmental consciousness amongst consumers has given rise to the demand for eco-friendly home décor products, which has created numerous growth opportunities in the market. The market is also being driven by aggressive marketing strategies, including celebrity endorsements and advertising on social media platforms. Furthermore, the proliferation of online stores with the availability of a dynamic product portfolio and customization features for consumers is creating a positive outlook for the market.
Global Home Décor Market Trends:
Rapid urbanization, along with the inflating income levels of consumers, is primarily driving the growth of the home décor market. Furthermore, the expanding construction and real estate industries have resulted in an increased number of new households being set up, which in turn is creating a positive impact on the demand for home décor products. Besides this, with the growing concerns towards the environment, the manufacturers are developing eco-friendly products for reducing carbon emissions. They are also partnering with interior designers to offer a broad range of customized home décor items to consumers. Moreover, the increasing adoption of online retail channels by several brick-and-mortar home décor stores to expand their consumer base is expected to further bolster the market growth in the coming years. Looking forward, IMARC Group expects the home décor market to reach US$ 898.3 Billion by 2027, exhibiting at a CAGR of 4.8% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
IMARC Group provides an analysis of the key trends in each sub-segment of the global home décor market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type and distribution channel.
- Home Furniture
- Home Textiles
- Wall Décor
Based on product types, the market has been classified into home furniture, home textiles, flooring, wall décor, lighting and others. The report finds that home furniture is currently one of the most popular type of home décor products as it offers utility and aesthetic value to the homes.
- Supermarkets and Hypermarkets
- Home Décor Stores
- Gift Shops
- Direct to Consumer
- Online Stores
Based on the distribution channel, the market has been segmented into home décor stores, supermarkets and hypermarkets, online store, gift shops and others.
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Region-wise, North America represents the largest market for home décor products worldwide, owing to the construction of new buildings in the region. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.
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Key highlights of the report:
- Performance (2016-2021)
- Outlook (2022-2027)
- Drivers and Success Factors
- Impact of COVID-19
- 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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