DUBLIN--(BUSINESS WIRE)--The "Home Decor Market by Product Type, Distribution Channel, Income Group, and Price Point: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global home decor market was valued at $616.6 billion in 2019, and is estimated to reach $838.6 billion by 2027, registering a CAGR of 3.9% from 2020 to 2027.
Home dcor products such as furniture and textiles are installed across various settings, including spa, office, clean room, restaurants, camping, bedroom, outdoor, library, and stores. The home dcor products include various items such as furniture, home textiles (, and floor coverings. Depending on end use, furniture designs can be modified through machine-based processes and handcrafting. The adoption of home decor products has been considerably high in the developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are witnessing steady increase.
The global home decor market is highly fragmented due to the presence of multiple vendors in both international and regional players. Developing real estate industry is driving the growth of the global home decor market in the current scenario. The global home decor market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to A surge in popularity of home dcor products such as furniture, home textile, and floor covering among consumers.
Moreover, rise in number of small-size houses has encouraged the use of products having facility for extra storage along with enhancing the aesthetical appearance of homes. In addition, rise in popularity of eco-friendly home decor products among consumers, owing to increase in environment concerns significantly contribute toward the growth of the global market.
Key Benefits
- The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing global home decor market opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the size and segmentation assists to determine the prevailing market opportunities.
- The major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the global home decor industry.
Key Findings
- On the basis of product type, the furniture segment is expected to witness the fastest growth, registering a CAGR of 4.0% during the forecast period.
- In 2019, by distribution channel, the specialty stores segment garnered around half of the global market share.
- In 2019, by price point, the mass segment held the highest share, and is expected to growth at a CAGR of 3.6% during the forecast period
- Higher income group segment dominated the market in 2019, accounting for significant home decor market share, globally.
- In 2019, China was the most prominent market in the Asia-Pacific region, and is expected to grow at a significant CAGR throughout the forecast period.
- North America was the dominant region in 2019, accounting for more the one-third of the global home decor market share.
Market Dynamics
Drivers
- Growing Consumer Interest Towards Home Dcor
- Growth and Developments in Real Estate Industry
- Increasing Urbanization Worldwide
Restraints
- Increasing Cost of Raw Materials
Opportunities
- Increasing Disposable Income
-
Improving Life Style
Companies Mentioned
- IKEA Group
- Forbo International SA
- Armstrong World Industries Inc.
- Mannington Mills Inc.
- Mohawk Industries Inc.
- Shaw Industries Group Inc.
- Herman Miller Inc.
- Ashley Furniture Industries Ltd.
- Kimball International
-
Duresta Upholstery Ltd
For more information about this report visit https://www.researchandmarkets.com/r/o7d2kv
