What is the global market size of Home Decor Market?

Home Decor Market size was valued at USD 803.25 billion in 2021 and is poised to grow from USD 856.26 billion in 2022 to USD 1427.79 Billion by 2030, at a CAGR of 6.6% during the forecast period (2023-2030).

Global Home Decor Market Size, Share, Growth Analysis, By Product(Furniture, Textile), By Application(Indoor, and Outdoor) - Industry Forecast 2024-2031

Report ID: SQMIG25F2045 | Region: Global | Published Date: April, 2024
Pages: 223 | Tables: 63 | Figures: 75

Global Home Decor Market Regional Insights

North America accounted for 37.7% of global revenue in 2022, thus, making it the largest regional market. The market's growth is attributed to increasing product accessibility and expanded online and offline home décor channels penetration. The region that the most market players exhibit the greatest penetration of different décor products, such as furniture, lighting, decorative flooring, and the usage of textiles. Additionally, the U.S. dominates the world market for outdoor furniture as a result of customers' increasing willingness to spend money on home décor items.

The Asia Pacific market is anticipated to grow significantly as a result of a population migration to cities. The local real estate market is growing quickly, which suggests that new residences and buildings are being constructed. As a result of new construction, the market is flooded with innovative and creative décor products. As the interior design industry grows in developing nations like Indonesia, China, and India, there is a rising demand for home décor products. The growing inclination of consumers for eco-friendly products has also increased the popularity of using waste materials to produce attractive aesthetics. As a result, the creative component in the creation of home décor objects has increased.

Global Home Decor Market Report Snapshots

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Global Home Decor Market size was valued at USD 856.26 billion in 2022 and is poised to grow from USD 912.77 billion in 2023 to USD 1522.02 billion by 2031, growing at a CAGR of 6.60% during the forecast period (2024-2031).

The home decor market is highly competitive, with a diverse range of players, from small boutique stores to large multinational corporations. The competitive landscape of the home decor market is influenced by a range of factors, including product quality, price, design, brand reputation, customer service, and marketing. Many companies differentiate themselves through a combination of these factors. For example, Ikea is known for its affordable yet stylish designs, while Williams-Sonoma is known for its high-end products and personalized customer service. 'Ikea', 'Bed Bath & Beyond', 'Wayfair', 'Williams-Sonoma, Inc.', 'Home Depot', 'Lowe's', 'Target', 'Amazon', 'Pier 1 Imports', 'Pottery Barn', 'West Elm', 'Crate & Barrel', 'Ashley Furniture Industries', 'Ethan Allen Interiors', 'Mohawk Industries', 'Sherwin-Williams', 'Benjamin Moore & Co.', 'J.C. Penney', 'Kirkland's', 'HomeGoods.'

Rising disposable income levels have led to an increase in consumer spending on home decor products. As consumers have more money to spend, they are more likely to invest in higher-end home decor items.

Sustainability: Sustainability has become a major trend in the home decor market, with consumers increasingly interested in eco-friendly and sustainable products. Companies are responding by introducing products made from recycled materials or sustainably sourced materials.

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Global Home Decor Market Size, Share, Growth Analysis, By Product(Furniture, Textile), By Application(Indoor, and Outdoor) - Industry Forecast 2024-2031

Global Home Decor Market Regional Insights

Global Home Decor Market Report Snapshots

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