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NEW YORK, Jan. 31, 2023 /PRNewswire/ — The global home decor market size is estimated to increase by USD 289.49 billion between 2022 and 2027. The market’s growth momentum will accelerate at a CAGR of 7.27{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827}. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Discover more insights on the market – Request a sample report
Global home decor market – Vendor analysis
Vendor offerings –
Armstrong World Industries Inc. – The company offers home decor solutions such as raised panel, EASY ELEGANCE deep coffer white, and WOODHAVEN beadboard.
Ashley home stores Ltd. – The company offers home decor solutions such as wall mirrors, floor mirrors, and faux plants.
Bed Bath and Beyond Inc. – The company offers home decor solutions such as candles, diffusers, faux florals, and greenery.
Costco Wholesale Corp. – The company offers home decor solutions such as wall art, picture frames, and indoor plants.
For details on vendors and their offerings – Buy the report!
Vendor landscape –
The global home decor market is fragmented, with the presence of several established vendors. A few prominent vendors that offer home decor in the market are Armstrong World Industries Inc., Ashley home stores Ltd., Bed Bath and Beyond Inc., Costco Wholesale Corp., Duresta Upholstery Ltd., Forbo Management SA, Global Home Interiors, HANSSEM Co. Ltd., Home24 SE, Inter IKEA Holding BV, Kimball International Inc., Mannington Mills Inc., MillerKnoll Inc., Mohawk Industries Inc., Otto Home Goods, Penney IP LLC, Shaw Industries Group Inc., Springs Window Fashions LLC, Suofeiya Home Collection Co. Ltd., and Wayfair Inc. and others.
Market players compete on various factors, including price, quality, brand, and variety. Companies undertake various marketing strategies to increase their market shares. The acquisition of new brands will enable the leading competitors to maintain their dominance in the global home decor market during the forecast period. In addition, market players should to focus on the customization of furniture through consumer interactions. Major competitors are trying to mass-customize their products by interacting with consumers through AR-based applications. Such technological advances are expected to drive the growth of the global home decor market during the forecast period.
Global home decor market – Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
Global home decor market – Segmentation assessment
Segment overview
Technavio has segmented the market based on product (furniture, floor coverings, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The furniture segment will account for a significant share of the market’s growth during the forecast period. This growth is attributed to factors such as the rising popularity of wooden furniture among middle- and high-income customers. In addition, the adoption of eco-friendly products has increased. Pinewood, metal, plastic, glass, and leather are some of the eco-friendly raw materials used for making furniture. These factors will drive the growth of the furniture segment in the market during the forecast period.
Geography overview
Based on geography, the global home decor market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global home decor market.
APAC is estimated to account for 50{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} of the growth of the global market during the forecast period. The growth of the market is attributed to factors such as rising disposable income, the recovery of the real estate industry, rapid urbanization, and increasing awareness. The high performance of the online retail sector is also driving market growth in the region. Home decor products are easily available, affordable, and convenient to buy from online retail platforms.
Global home decor market – Market dynamics
Leading drivers – The growing importance of innovative, customized furniture is driving market growth. The preference for smart and customized furniture has increased. For instance, IKEA and Ethan Allen offer innovative furniture and customized fabric. On December 6, 2022, IKEA announced its plan to develop multifunctional furniture. Thus, growing innovation in furniture by vendors will fuel the growth of the market during the forecast period.
Key trends – Enhancement of consumer experience through technology is a key trend in the market. AR and VR apps allow users to input the dimensions of rooms and then select items from the catalog accordingly. Consumers can virtually see different colors and textures by pointing their smartphones at a particular item of furniture. They can also find similar products and select the desired home decor items. These factors will support the growth of the market.
Major challenges – High volatility in raw material prices and transportation costs is challenging market growth. The prices of raw materials have increased due to their shortage. Raw materials, such as polyurethane foam, faced a shortage in late 2020, which increased their price. The prices of other raw materials, such as springs, fabrics, board materials, mechanisms, feathers, fiber, and packaging goods, have also increased. Moreover, the capacity of transportation is restricted, and tariffs have increased. These factors increase the final cost of the product. This, in turn, will hinder the growth of the market during the forecast period.
What are the key data covered in this home decor market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the home decor market between 2023 and 2027
Precise estimation of the size of the home decor market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the home decor market across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of home decor market vendors
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Related Reports:
The home furniture market is estimated to grow at a CAGR of 5.34{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} between 2022 and 2027. The size of the market is forecasted to increase by USD 105.01 billion. This report extensively covers market segmentation by distribution channel (offline and online), product (living room furniture, bedroom furniture, storage furniture, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
The size of the home furniture and bedding market in US is projected to grow by USD 10.86 billion with a CAGR of 2.96{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} during the forecast period 2021 to 2026. This report extensively covers segmentation by distribution channel (offline and online) and product (living room furniture, bedroom furniture, storage furniture, and others).
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Home Decor Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.27{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} |
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Market growth 2023-2027 |
USD 289.49 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 ({6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827}) |
6.75 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 50{6b977529af4b490fe19a3f85472c6203ccfa467a56646e317a890c6580e8b827} |
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Key countries |
US, China, India, UK, and Germany |
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Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
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Key companies profiled |
Armstrong World Industries Inc., Ashley home stores Ltd., Bed Bath and Beyond Inc., Costco Wholesale Corp., Duresta Upholstery Ltd., Forbo Management SA, Global Home Interiors, HANSSEM Co. Ltd., Home24 SE, Inter IKEA Holding BV, Kimball International Inc., Mannington Mills Inc., MillerKnoll Inc., Mohawk Industries Inc., Otto Home Goods, Penney IP LLC, Shaw Industries Group Inc., Springs Window Fashions LLC, Suofeiya Home Collection Co. Ltd., and Wayfair Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio’s consumer discretionary market reports
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Wallpaper scraps can be very easily reused as a backsplash. Milwaukee-centered Elizabeth Rees, founder of Chasing Paper, employs leftover removable wallpaper to carry on producing even more home initiatives. Select vivid designs to make kitchen area cabinet colours stand out. Make a collage-like format on a flat area before adhering it to the wall.
To make wallpaper backsplash, you’ll have to have:
Move 1
Make positive the area place down below the kitchen cabinetry is sleek and grime-free of charge. “Wallpaper adheres easiest to clean up surfaces that do not have texture or bumps,” Rees claims. Wipe down the surface area with warm drinking water at least two days in advance of time, making it possible for the spot to dry absolutely prior to the wallpaper is added. Be absolutely sure to take away any mild or outlet plates ahead of incorporating wallpaper.
Phase 2
Increase the wallpaper on the edge of the wall the place you want the backsplash. Thoroughly and gradually peel the backing. “Peel-and-adhere wallpaper is generally quite forgiving,” Rees claims. If you get a crease in the wallpaper although implementing it to the wall, you can just take the wallpaper off the wall and re-stick. “For any challenging places, like light plates, trim. Use a ruler and an X-Acto knife to minimize out the holes or angles as you go,” she says.
Step 3
Clean out the wallpaper with your hands or with a straight item, like a ruler. “If you still have an air bubble, just prick it with a compact pin to launch the air,” Rees claims of the nifty hack. “Repeat until eventually your wall is complete.”