NEW YORK, May 12, 2023 (GLOBE NEWSWIRE) — The global home decoration market is expected to grow by 1.2% in 2022. $672.2 billionBy 2032, $949 billiongrowing at a compound annual growth rate (CAGR) It's 3.6%.
Home decorating is the art of designing the interior and exterior of a home to be beautiful and convenient for the people who live there. Products for decorating a home include a wide variety of items such as furniture and textiles for the kitchen and dining areas, bathrooms, living rooms and bedrooms, carpets, tiles, rugs, flooring materials such as rubber, vinyl, laminate and wood.
To get additional highlights regarding the key revenue generating segments, request for a sample report of the Home Decoration market. https://market.us/report/home-decor-market/request-sample/
Highlights:
- By product type, Flooring accounts for the majority of sales. 26.0% 2022
- By distribution channel, The specialty store category captured the highest revenue share in 2022.
- North America Revenue share is about 39.7% 2022
- The Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
Home décor products have been widely adopted in developed countries such as the United States, Canada and Germany, and consumer demand is expected to grow steadily in developing countries such as China, Brazil and India.
Factors influencing the growth of the home decoration market
Several factors influence the growth of the home decor market. These factors include:
- structure: Increase in construction, renovation, and remodeling of commercial and residential properties means a rise in the need for home decoration, which is expected to drive the expansion of the market.
- Increased disposable income: Increasing spending capacity and population shift to urban areas are boosting the sales of home décor items, contributing to the development of the market.
- Raising awareness: Increasing public awareness towards eco-friendly materials is expected to drive the market growth during the forecast period.
- Accessibility: Get beauty products at discounted prices, easy home delivery and secure online payment.
To understand how our reports can make a difference to your business strategy, contact us for a brochure. https://market.us/report/home-decor-market/#inquiry
Top Trends in the Global Home Decoration Market
Due to increasing urbanization, consumers are increasingly preferring urban lifestyles, including the use of high-quality, premium furniture and other furnishings. These changes are expected to increase the demand for home décor. Moreover, the expansion of the home décor market is expected to be complemented by the growth of the real estate industry.
Market Growth
The market is encouraged to expand its product lines as a result of the growing public awareness of the benefits of adopting eco-friendly materials. They are focusing on strategic partnerships with interior designers to provide unique home décor items to their customers, which is expected to drive the market expansion during the forecast period.
Regional Analysis
North America will be the largest region by 2022, 39.7% The market growth is attributed to the increasing accessibility of products and the growing penetration of both online and offline interior design channels. Many market players are based in the region, which is driving the rise in the use of lighting, textiles, and decorative flooring. Significant market growth is expected in Asia Pacific due to increasing urbanization. The real estate sector, including the construction of new buildings and homes, is witnessing strong growth in the region.
Competitive Environment
The competitive landscape of the market is also studied in the report. Market leaders are focusing on product innovation to expand their market share. As consumers increasingly seek luxury and high-end lifestyles, new product launches help them maintain their interest. Some of the key players include: Inter IKEA Systems BV, Kimball International Inc., Herman Miller, Inc., Home24, Hanssem Corporation, Koninklijke Philips NV, Conair Corporation, Suofeiya Home Collection Co., Ltd., Springs Window Fashions LLC, Siemens AG and other major players in the home décor market.
Have questions? Talk to an expert or Click here to download/request samples
Scope of the report
| Report Attributes | detail |
| Market Value (2022) | $672.2 billion |
| Market size (2032) | $949 billion |
| CAGR (2023-2032) | 3.6% |
| North American Revenue Share | 39.7% |
| Historical period | 2016 to 2022 |
| Base year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Rise in construction, renovation, and remodeling of commercial and residential buildings is driving the growth of the interior decoration market. Increasing consumption capacity and population shift to urban areas are also driving the global demand for interior decoration products. A significant increase in trade activity for decoration products is also creating a positive outlook.
Market Constraints
The home decoration industry is highly dependent on the source of raw materials. Natural materials such as wood are strictly controlled during production and import, making it difficult for people to purchase home decoration products due to the limited availability of high-quality wood. Leather is in high demand due to the large demand from industries such as footwear and textiles. However, the supply of leather is limited. The rising cost of raw materials brought about by these factors is hindering the expansion of the market.
Market Opportunity
Rising disposable income has led to a significant improvement in the lifestyle of consumers, especially in urban areas. Rising spending on home décor products is expected to provide lucrative opportunities for the expansion of the global market as these products improve the aesthetic look of homes.
Increase your profit margins with Market.us – Purchase this Premium Report https://market.us/purchase-report/?report_id=32585
Home Decoration Market Segmentation Report
Product Type Insights
Based on type, the flooring sector holds the largest share in the market. Flooring materials are available in vinyl, rubber, tiles, wood, laminate, and other types. Awareness about the importance of recycling and reducing waste has increased significantly. The flooring industry is influenced by recycled materials such as tiles, laminate, and wood. Customers are showing appreciation for trendy flooring materials that are cheap and also eco-friendly.
Distribution Channel Insights
By distribution channel, specialty stores held the largest market share in 2022. Home decoration specialty stores carry many products and similar items. The specialty stores offer specialized solutions for locations such as offices, apartments, and corporate customers. The specialty stores provide excellent customer service and expert advice to help select home decoration items for various uses such as outdoor furniture, kitchens, bedrooms, and outdoor spaces.
For more information on historical and forecast market data from 2016 to 2032, download the sample report: https://market.us/report/home-decor-market/request-sample/
Market Segmentation
By Product Type
- Home Textiles
- Floor coverings
- furniture
- Other types
Based on distribution channel
- Supermarkets and hypermarkets
- specialty shop
- E-commerce
- Other channels
By Geography
- North America
- Western Europe
- Germany
- France
- England
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Other Western Europe
- Eastern Europe
- Russia
- Poland
- Czech Republic
- Greece
- Other Eastern Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia and New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of Asia Pacific
- latin america
- Brazil
- Columbia
- Chile
- Argentina
- Costa Rica
- Other Latin America
- Middle East and Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- turkey
- United Arab Emirates
- Remaining MEA
Key players in the market:
- Inter IKEA Systems BV
- Kimball International Co., Ltd.
- Herman Miller
- Home 24
- Hansem Co., Ltd.
- Philips NV
- Conair Corporation
- Suofeiya Home Collection Co., Ltd.
- Springs Window Fashions LLC
- Siemens AG
- Other Key Players
Recent Trends in the Interior Decoration Market
- Kurlon plans to achieve revenues of Rs 1,000 crore this fiscal year. Kurlon, a leading mattress manufacturer, plans to achieve revenues of Rs 1,000 crore this fiscal year and a 25% growth in sales.
- Lifestyle brand Deculture Works has opened three stores in Bengaluru and the company is in talks with multiple investors to raise around Rs 100 crore for future expansion into Delhi, Mumbai and other metros.
Check out other related reports:
- The home fragrance market was worth USD 7.7 billion in 2022. It is projected to grow at a CAGR of 5.1% during the forecast period 2023-2032. It is expected to be worth USD 12.5 billion by 2032.
- The decorative apparel market was worth USD 23.06 billion in 2021. It is expected to grow at a CAGR of 13% between 2023 and 2032.
- The smart home market is expected to be valued at USD 113.5 billion in 2022 and reach USD 503.1 billion between 2023 and 2032, and is estimated to register the highest CAGR of 16.8%.
- The smart home hub market is valued at USD 107.6 billion in 2021 and is projected to grow significantly at a CAGR of 12.00% from 2023 to 2032. It is expected to reach USD 374.4 billion during the forecast period.
About us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and is not only a highly sought-after provider of syndicated market research reports but has also proven itself as a consultancy and customized market research firm. Market.US offers customization to suit all specific and unique requirements and tailors reports on request. We push the envelope to take analysis, analytics, research and perspectives to new heights and wider perspectives.
follow me LinkedIn Facebook twitter
Our blog:
