Home Decor Market by Product Type (Furniture, Home Textile, and Floor Covering), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-commerce, and Others), Income Group (Lower-middle Income, Upper-middle Income, and Higher Income), and Price Point (Mass and Premium): Global Opportunity Analysis and Industry Forecast, 2020–2027
The global home decor market was valued at $616.6 billion in 2019, and is estimated to reach $838.6 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027. Home décor products such as furniture and textiles are installed across various settings, including spa, office, clean room, restaurants, camping, bedroom, outdoor, library, and stores. The home décor products include various items such as furniture, home textiles (, and floor coverings. Depending on end use, furniture designs can be modified through machine-based processes and handcrafting. The adoption of home decor products has been considerably high in the developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are witnessing steady increase.
The global home decor market is highly fragmented due to the presence of multiple vendors in both international and regional players. Developing real estate industry is driving the growth of the global home decor market in the current scenario. The global home decor market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to surge in popularity of home décor products such as furniture, home textile, and floor covering among consumers. Moreover, rise in number of small-size houses has encouraged the use of products having facility for extra storage along with enhancing the aesthetical appearance of homes. In addition, rise in popularity of eco-friendly home decor products among consumers, owing to increase in environment concerns significantly contribute toward the growth of the global market.
Moreover, increase in disposable income and improvement in living standards in the emerging countries such as China and India along with rise in affinity of consumers toward luxury home decor products augment the growth of the home décor market. Presence of low-cost home decor producers in China and Vietnam is further anticipated to drive the growth of the global market. However, availability of low-quality and counterfeit products restricts the growth of the global market. In addition, dearth of skilled labor, ineffective transportation, and lack of infrastructure facilities may act as a hindrance for the global home decor market. On the contrary, upsurge in demand for trendy, customized, and fashionable designs for home decor products and increase in popularity of home decor products among high-income consumers are anticipated to provide lucrative growth opportunities for the global home decor market.
The global home decor market is segmented into product type, Income group, price point, distribution channel, and region. On the basis of product type, the market is divided into furniture, home textile, and floor covering. Depending on distribution channel, it is segregated into supermarkets and hypermarkets, specialty stores, e-commerce, and others. By income group, it is fragmented into lower-middle income, upper-middle income, and higher income. As per price point, it is categorized into mass and premium. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Inter IKEA Group, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills, Inc., Mohawk Industries Inc., Shaw Industries Group, Inc., Herman Miller, Inc., Ashley Furniture Industries Ltd., Kimball International, and Duresta Upholstery Ltd. These players are focusing on the development of eco-friendly home decor products.
KEY BENEFITS FOR STAKEHOLDERS
The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing global home decor market opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis of the size and segmentation assists to determine the prevailing market opportunities.
The major countries in each region are mapped according to their revenue contribution to the global industry.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the global home decor industry.
KEY MARKET SEGMENTATION
By Product Type
Living & Bedroom
Kitchen & Dining
Living Room Textiles
Wood & Laminate
Vinyl & Rubber
Carpets & Rugs
By Distribution Channel
Supermarkets & Hypermarkets
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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