Home Decor Market Growth Drivers Challenges, Trends and Industry Dynamics, Forecast by 2032
The home decor market reached a value of USD 619.8 billion in 2022 and is expected to keep growing at a compound annual growth rate (CAGR) of 4.00% from USD 644.5 billion in 2023 to USD 882.1 billion by 2032.
The home décor market stands at the intersection of creativity, functionality, and personal expression, offering a myriad of opportunities for consumers to transform their living spaces into havens of style and comfort. From furniture and textiles to wall art and accessories, the realm of home décor encompasses a diverse range of products designed to reflect individual tastes, lifestyles, and aspirations. As the home continues to evolve into a multifunctional sanctuary for work, relaxation, and socialization, the demand for innovative and aesthetically pleasing décor solutions has never been greater.
One of the defining trends shaping the home décor market is the rise of eco-consciousness and sustainability. With growing awareness of environmental issues, consumers are increasingly seeking products that are ethically sourced, eco-friendly, and sustainably produced. This shift in consumer preferences has prompted many home décor brands to embrace sustainable materials, ethical manufacturing practices, and eco-friendly packaging, thereby aligning with the values of environmentally conscious consumers.
Key Companies in the home décor Market include
- Forbo Management SA
- Shaw Industries Group, Inc.
- Ashley Furniture Industries
- Mannington Mills, Inc.
- Armstrong World Industries, Inc.
- Mohawk Industries, Inc.
- Millerknoll, Inc.
- IKEA Holding BV.
- Duresta Upholstery Ltd.
- Kimball International Inc.
Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, Home-décor Market drivers, growth potential, industry-specific challenges and risks).
- To analyze the concerning individual future prospects, growth trends and their involvement to the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
Home-décor Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American home-décor Market area will dominate this Market, owing to rising product accessibility and expansion of online and offline home-décor channels. In addition, the growing penetration of different décor products will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Home-décor Industry Developments
March 2023:Wayfair joined hands with various home-décor brands to offer a wider range of products on its platform, including décor and luxury furniture.
June 2023:Overstock purchased Bed Bath & Beyond for $ 21.5 million, and the firm announced that Overstock would rebrand itself as Bed Bath & Beyond. As of right now, users visiting Overstock.com are sent to bedbathandbeyond.com.
June 2022: Home Depot said in a news release that it has added furniture for kids to its online inventory of décor items. The brand, appropriately named StyleWell Kids, debuted exclusively on the Home Depot online on June 2 and provides 'on-trend home décor' for the younger demographic.
Browse The Related Report:@
Home-décor Market Research Report
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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