Home Decor Market Research Report Information By Product Type (Home Furniture, Home Textiles, Flooring, Wall Décor, Lighting and Others), By Distribution Channel (Home Décor Stores, Supermarkets and Hypermarkets, Online Store, Gift Shops and Others), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Global Home Decor Market Overview

Home Decor Market Size was valued at USD 926.1 billion in 2022. The home decor market is projected to grow from USD 964.9 billion in 2023 to USD 1341.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.20% during the forecast period (2023 - 2032). One of the main market driver currently favouring the market is the rising building, remodelling, and renovation activities in residential and commercial areas.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Home Decor Market Trends

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  Growing use of cellphones and e-commerce is anticipated to fuel the market growth

  
  

The market for home decor is anticipated to develop in the future due to rising smartphone adoption and e-commerce. A handheld electronic device that provides access to the internet and cellular networks is referred to as a smartphone. Smartphones are useful for purchasing items for home décor from numerous online e-commerce websites, such as wall art, pillows, curtains, and figurines. For instance, according to The Economic Times, an Indian business journal, India has the highest mobile data consumption rate in the world in October 2021, with each user consuming 12 gigabytes per month, and the nation is adding 25 million new smartphone users every three months. Additionally, 6.37 billion people (80.76% of the world's population) will be using smartphones in 2021, according to Bankmycell, a pricing comparison website for mobile phones based in the US. As a result, the market CAGR for home decor is expanding as smart gadgets become more widely used.

The industry for home decor has seen a rise in strategic partnerships and collaborations as a prominent trend. To maintain their position in the market, major companies involved in the home decor industry are concentrating on strategic alliances and partnerships. For instance, in April 2022, Dabito, a designer, photographer, artist, and the owner of Old Brand New, joined forces with Mitzi, a US-based home decor company. This partnership resulted in the creation of 12 new Mitzi pieces, ranging from wall sconces to chandeliers, that are equally sleek, modern, and desirable. Additionally, in April 2022, Ruggable, a pioneering washable rug manufacturer with headquarters in the US, collaborated with Keith Haring Studio to produce a range of 15 chenille rugs and 9 doormats embellished with the late American artist's recognisable line drawings. Each rug from Ruggable is made of a machine-washable top layer that is simply removed from a cushioning base. Thus, driving the home decor market revenue.

Home Decor Market Segment Insights

Home Decor Product Type Insights

The Home Decor Market segmentation, based on product type includes Home Furniture, Home Textiles, Flooring, Wall Décor, Lighting and Others. The home furniture segment dominated the market. The segment's rise has been spurred by an increase in demand for wooden furniture due to its high quality and attractive appearance. Additionally, the spread of western culture has a significant impact on the rise in the popularity of modular wardrobes and kitchens. The usage of eco-friendly products has expanded in several rooms of the house, including the bedroom, bathroom, outdoor space, and indoor space, thanks to shifting trends towards the adoption of these products.

Home Decor Distribution Channel Insights

The Home Decor Market segmentation, based on distribution channel, includes Home Décor Stores, Supermarkets and Hypermarkets, Online Store, Gift Shops and Others. The home décor stores category generated the most income. At the home decor-focused specialty store outlet, a wide variety of goods and associated accessories are offered. The speciality store provides businesses, residences, and other customers with specialized solutions. Additionally, while guiding customers in choosing home design goods for different functions, such as kitchens, bedrooms, and outdoor furniture, specialist stores offer higher-quality customer service and professional assistance.

Figure 1: Home Decor Market, by Distribution Channel, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Home Decor Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific home decor market area will dominate this market due to the population's move to metropolitan areas. The real estate industry in the area is expanding rapidly, which indicates that new homes and structures are being built. Therefore, the market is supplied with fresh and inventive décor products as a result of new construction. Moreover, rising propensity towards eco-friendly items has enhanced the trend of waste material use to generate a trendy appeal. This, in turn, has enhanced the innovation aspect in making home décor products.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: HOME DECOR MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Home decor Market is expected to grow at the fastest CAGR from 2023 to 2032. The residential market accounts for the majority of uses for home decor, followed by the European commercial market. Spain presently holds the top revenue spot in the world market for home décor as a result of an increase in the use of decor goods for residential applications. Government regulations also mandate that hospital furniture be specially created and produced. Further, the German home decor market held the largest market share, and the UK home decor market was the fastest growing market in the European region

North America home decor market accounts for the second-largest market share. The market's expansion is attributed to greater product accessibility as well as expanded online and offline home décor channel penetration. The use of various décor products, including furniture, lighting, decorative flooring, and textiles, is most prevalent in the region with a significant number of market participants. Moreover, US home decor market held the largest market share, and the Canada home decor market was the fastest growing market in the Asia-Pacific region.

Home decor Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the home decor market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, home decor industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global home decor industry to benefit clients and increase the market sector. In recent years, the home decor industry has offered some of the most significant advantages. Major players in the home decor market are attempting to increase market demand by investing in research and development operations are Ashley Furniture Industries Inc., Duresta Upholstery Ltd., Forbo Holding AG, Herman Miller Inc., Inter IKEA Systems B.V., Kimball International Inc., Koninklijke Philips N.V., Mannington Mills Inc., Mohawk Industries Inc., Hanssem Co., Ltd., Siemens AG, Springs Window Fashions, LLC, Suofeiya Home Collection Co., Ltd., Samson Holding Ltd, Shaw Industries Group Inc. (Berkshire Hathaway Inc.) and Sophia Home.

IKEA is a Dutch-based, Swedish multinational business that creates and markets ready-to-assemble furniture, kitchen appliances, decor, home accessories, and a variety of other products and services. IKEA, which Ingvar Kamprad founded in 1943, has held the title of largest furniture shop in the world since 2008. In October 2022, the new IKEA house smart app was introduced by IKEA, and DIRIGERA, a new hub for smart products, will provide a rich and intuitive experience with new capabilities to personalise and improve everyday moments in the house.

The largest furniture producer in the US and one of the biggest in the world is Ashley Furniture Industries, LLC (Ashley). Established in 1945, Ashley offers retail partners in 155 countries one of the biggest product selections in the sector. Ashley works tirelessly to offer our customers the greatest prices, variety, and service in the furniture industry, from design to fulfillment. In August 2020, the expansion of operations at Ashley Furniture's Verona and Saltillo sites has been announced. 130 new jobs at both plants will be generated by the expansions. Ashley will make a $ 13 million investment in its Verona facility, which will be used to build a structure and buy new machinery.

Key Companies in the home decor market include

• Ashley Furniture Industries Inc.


• Duresta Upholstery Ltd.


• Forbo Holding AG


• Herman Miller Inc.,


• Inter IKEA Systems B.V.


• Kimball International Inc.


• Koninklijke Philips N.V.


• Mannington Mills Inc.


• Mohawk Industries Inc.


• Hanssem Co., Ltd.


• Siemens AG


• Springs Window Fashions, LLC


• Suofeiya Home Collection Co., Ltd.


• Samson Holding Ltd


• Shaw Industries Group Inc. (Berkshire Hathaway Inc.)


• Sophia Home

Home Decor Industry Developments

October 2022: In Lynnfield, Massachusetts' MarketStreet Lynnfield, the online retailer of home goods has launched its first physical location operating under the AllModern brand. At Legacy Place in Dedham, Massachusetts, a second shop is scheduled to open this autumn. With two AllModern and one Joss & Main presence in Burlington Mall in Burlington, Massachusetts, Wayfair said in December that it would start opening physical stores under all of its labels in 2022.

December 2021: Folkulture was purchased by Mensa businesses for an undisclosed sum. Mensa Brands is an Indian-based digital brand investment company that collaborates with business owners to establish and scale digital businesses. Mensa Brands would expand its channels and fortify its position in important international markets as a result of this acquisition. Modern-chic, upscale, and reasonably priced home decor and kitchenware are available from the Indian firm Folkulture.

Home Decor Market Segmentation

Home Decor Product Type Outlook (USD Billion, 2018-2032)

• Home Furniture


• Home Textiles


• Flooring


• Wall Decor


• Lighting


• Others

Home Decor Distribution Channel Outlook (USD Billion, 2018-2032)

• Home Décor Stores


• Supermarkets and Hypermarkets


• Online Store


• Gift Shops


• Others

Home Decor Regional Outlook (USD Billion, 2018-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America