USD 665.91 billion
Report ID: SQSG25F2008 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 95 | Figures: 76
Global Wall Decor Market size was valued at USD 665.91 billion in 2021 and is poised to grow from USD 691.98 billion in 2022 to USD 939.63 billion by 2030, growing at a CAGR of 3.9% in the forecast period (2023-2030).
The use of wall décor is a practical and affordable technique to revitalize the room's interior. The science and practice of improving a building's interior to give occupants a cleaner, more aesthetically pleasing environment is known as wall décor. Wall décor comprises painting murals and decorative frames on walls to change the appearance of homes and workplaces.
The market for wall décor is expanding as a result of the rising demand for uniquely designed and personalized wall decor. Its expansion is being aided by the market's accessibility to high-end goods. The customer's financial capacity and newly built or renovated properties have a direct impact on the market growth for wall décor. Walls are being renovated with frames and paintings to change how homes and workplaces are perceived. The market for wall décor goods is growing as a result of growing demands from both the commercial and residential sectors.
The global economy is continually changing, particularly when it comes to the design of public spaces and the hospitality sector. Clients are quite concerned about the appearance of the furnishings of their homes, even in the domestic sector. Emerging innovations and technologies that meet the needs of the target market have consequently been introduced to the market.
US Wall Decor Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 665.91 billion
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The Global Wall Decor Market segmentation is based on product, distribution, end-use, and region. Based on product the Wall Decor market is segmented into shelves, wallpapers/ stickers, clocks, hangings, frameworks, mirror works, and others. Based on distribution channels the Wall Decor market is segmented into wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, online retailers, and others. Based on end-use the Wall Decor market is segmented into residential and commercial. Based on region the global wall decor market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Wall Decor Market Analysis by Product
The shelves market sector has a market share of 12% in 2021 and is predicted to increase at a 5.5% annual rate through 2028. One of the objects that are frequently used for home decor is the shelf. The shelves are a popular decor item because they provide the client with two services: they serve as wall décor and are used to store additional decor items like flower vases, frames, and other decor items. Customers also favor shelves because they are long-lasting and come in a variety of materials, including wood, plastic, and metal. They are also extensively utilized in commercial structures like offices, eateries, and retail stores, among others.
Wall Decor Market Analysis by Distribution Channel
By 2021, the distribution channel for hypermarkets and supermarkets had 44% revenue share and was expected to grow to US$ 17.5 billion by 2028. Supermarkets are where most consumers buy goods for their homes. Customers are helped in their decision-making by being able to see the item and its attributes, like size and appearance in the hypermarket or supermarket. When the items are noticed, the likelihood of sales increases. Additionally, in some emerging regions where online retail is still not widely used for product purchases, these hypermarkets and supermarkets serve as the primary source of retail sales. However, in developed economies, hypermarkets and supermarkets work with e-commerce platforms to expedite the delivery of goods.
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In 2021, the Asia Pacific region accounted for 40% of market revenue. Due to the expansion of the construction sector in emerging nations like India, China, and Indonesia, it will continue to be the ruling region and have significant growth in the next years. The Indian interior décor market will grow as a result of the country's rapidly expanding IT sector, which is accelerating construction. The main driving forces in this area are the rapid alteration of individual behavior and lifestyle, as well as the embrace of modern art and traditions and rising personal finances.
Over the projection period, the North American market is predicted to increase moderately. The main driver of the expansion of the North American wall décor market is the rapidly expanding home decor sector. Over the course of the forecast, the U.S. is predicted to lead the North American wall decor market. Furthermore, the market expansion for wall decor in North America is being fueled by the rising investments in designer wall decor goods.
Over the course of the projection period, markets in Europe, Latin America, and the Middle East & Africa are projected to grow moderately.
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Wall Decor Market Driver
Wall Decor Market Restraint
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Numerous small-scale players dominate the wall décor market. However, wall décor is sold everywhere from furniture shops to online shops. The businesses that are active in the industry offer a variety of high-end wall décor items with distinctive designs that are drawing more customers to the products. For instance, Amazon introduced a wall-mounted Echo product with a sizable touchscreen display in 2021. The smart home control panel, media player, and video calling features are all available on Echo devices.
Wall Decor Market Top Players Company Profiles
Wall Decor Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the market share for the shelves market sector was 12 % in 2021, and it is expected to grow at a rate of 5.5% a year through 2028. By 2021, supermarkets and hypermarkets' distribution channels would have a % sales share. The Asia Pacific region was responsible for 40% of market revenue in 2021. It is expected that the North American market will grow slightly during the projected period. Markets in Europe, Latin America, and the Middle East & Africa are expected to expand moderately throughout the projection period.
|Market size value in 2021||USD 665.91 billion|
|Market size value in 2030||USD 691.98 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Wall Decor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wall Decor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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