Future of Wall Art Market: Insights from Industry Experts |...

Future of Wall Art Market: Insights from Industry Experts

Сообщение 2025-01-22 06:39:34

The global wall art market size is expected to reach USD 80.96 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.4% from 2023 to 2030. With the popularity of contemporary and natural interiors, several hospitality and retail establishments use wicker and straw designs in their wall art. The interior design industry aims to improve the consumer experience by making it quicker and simpler to buy wallpaper and other décor items. This is expected to boost the market growth over the forecast period.

The COVID-19 pandemic largely impacted home improvement activities. As per Fred Miller, president of Consumer Specialists, a shift in consumer attitudes and behavior was noted concerning the home improvement market. With more people spending increased time at home due to lockdowns and remote work, homeowners have been motivated to improve their living spaces to accommodate their evolving needs. Travel restrictions and social distancing measures have limited options for entertainment and leisure activities, prompting individuals to invest in their homes to create more enjoyable and functional environments. Additionally, the shift towards remote work has increased the demand for home offices and improved work-from-home setups, leading to renovations and remodeling projects focused on creating dedicated workspaces.

A research study conducted by Consumer Specialists and the Home Projects Council in 2020 revealed that a significant number of homeowners (57%) prioritized home improvement during the initial three months of the COVID-19 pandemic (March-May 2020). The study found that homeowners spent an average of USD 1,750 on upgrades, with time being the primary driving force behind these expenditures. This trend significantly drove sales for retailers and distribution channels serving the wall art market.

Wallpaper manufacturers in the residential and commercial sectors have the potential to tap into significant growth opportunities due to the increasing trend towards unconventional textures and designs in wallpapers. The rise of digital media and modern culture has driven demand for digitally printed wallpapers, which offer greater customization options for consumers. Advancements in digital print technology have facilitated the production of high-quality, realistic images with more vivid colors, boosting the popularity of photo and mural wallpapers.

Gather more insights about the market drivers, restrains and growth of the Wall Art Market

Wall Art Market Report Highlights

• The hangings wall art is expected to witness substantial growth over the forecast period. Wall art is versatile and can be easily changed or updated to reflect changing tastes or decor styles. Consumers can choose from a range of sizes, styles, and materials to suit their preferences and needs

• The sale of wall art through online channel is expected to witness substantial growth over the forecast period from 2023 to 2030. Online sales have made it easier for small and independent artists to showcase and sell their work, bypassing the traditional gallery system and reaching a wider audience. Online platforms like Etsy, Society6, and Saatchi Art have become popular destinations for consumers seeking unique and personalized wall art

• The wall art for commercial application is expected to witness substantial growth over the forecast period. Large-scale murals can add a unique and eye-catching element to commercial spaces like restaurants, hotels, and office buildings. Murals can be customized to fit the aesthetic and branding of the business and can feature anything from abstract designs to realistic depictions of landscapes or cityscapes