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2020
Home Decor Market

Home Decor Market

by Product Type (Furniture, Home Textile, and Floor Covering), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-commerce, and Others), Income Group (Lower-middle Income, Upper-middle Income, and Higher Income), and Price Point (Mass and Premium): Global Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A00616
Pages: 343
May 2020 | 202336 Views
Author(s) : Aniket Kadam , Roshan Deshmukh
Tables: 170
Charts: 68
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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. In 2019, the floor coverings segment accounted for a significant revenue share in the overall global home decor market, and is expected to grow at a CAGR of 4.0% throughout the forecast period. Home decor is the art of aesthetically designing the internal and external spaces along with making them functionally useful for residents. The home decor products include various items such as furniture; home textiles such as rugs textiles, bath textiles, bed textiles, kitchen & dining, textiles, and living room textiles; and floor coverings, which include tiles, wood & laminate, vinyl & rubber, carpets & rugs, and others. Furniture designs can be modified through machine-based processes and handcrafting. The adoption of home decor products has been significantly high in mature regions such as the U.S., Canada, and Germany, while consumer demand in emerging countries such as China, Brazil, and India is anticipate to increase at a steady pace. 

Home-Decor-Market,-2020-2027

The global home decor market has been gaining traction in emerging economies, owing to rise in the affluent population. Furthermore, rise in environment awareness among consumers has shifted their preference toward eco-friendly home decor products, which is a key growth factor of the global market. Moreover, increase in disposable income of consumers in developed as well as emerging countries fuels the market growth. In addition, aggressive advertisements and celebrity endorsement have significantly contributes toward the growth of the global market. However, availability of low-quality & counterfeit products and fluctuations in the prices of raw materials used to manufacture these products restrain the market growth.  On the contrary, surge in demand for trending & unique furniture is anticipated to provide lucrative growth opportunities for the home decor industry.

Home Decor Market
By Product Type

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Floor coverings segment dominates the global market and is expected to retain its dominance throughout the forecast period.

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The global home decor market has been segmented into product type, Income group, price point, distribution channel, and region. On the basis of product type, the market is divided into furniture, home textile, and floor covering. Depending on distribution channel, it is segregated into supermarkets and hypermarkets, specialty stores, e-commerce, and others. By income group, it is fragmented into lower-middle income, upper-middle income, and higher income. As per price point, it is bifurcated into mass and premium. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Home Decor Market
By Distribution Channel

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E Commerce segment is expected to grow at a highest CAGR of 4.4% during the forecast period.

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On the basis of the global home decor market forecast, the specialty stores was the most prominent segment accounting for the highest share in 2019. However, the e-commerce segment is expected to witness the highest growth during the forecast period, owing to increase in penetration of internet and rise use of smartphones for online shopping, as it allows the consumer to compare products in real time and make informed decisions.

Home Decor Market
By Price

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Premium segment is expected to grow at a highest CAGR of 4.4% during the forecast period.

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Region wise, North America led the home decor market in 2019, owing to the highly evolved retail structure of the region. In addition, surge in adoption of global home decor products due to aggressive advertising and celebrity brand endorsement boosts the growth of the market. Moreover, increase in expenditure of consumers on home decor products coupled with improvement in living standard adds to the popularity of home decor products in this region. However, Asia-Pacific is expected to grow with the highest CAGR throughout the forecast period, owing to rapid improvements in retail infrastructure and upsurge disposable income of consumers in this country.

Home Decor Market
By Income Group

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Lower-middle Income segment is expected to grow at a highest CAGR of 4.1% during the forecast period.

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The players in the global home decor market have adopted acquisition as their key development strategy to increase profitability and to strengthen their foothold in the global home decor market share. In addition, players have relied on product launch to improve their product portfolio and stay competitive in the global market. The key players profiled in the report include Inter 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, and Duresta Upholstery Ltd. These players are concentrating on development of eco-friendly home decor products.

Home Decor Market
By Region

2027
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific dominates the market and is expected to grow with a CAGR of 3.2% during the forecast period

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Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current global home decor market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.

  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.

  • In-depth analysis and the global home decor market size and segmentation assists to determine the prevailing global home decor market opportunities.

  • The major countries in each region are mapped according to their revenue contribution to the global home decor market. 

  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. 

Home Decor Market Report Highlights

Aspects Details
By Product Type
  • Home textile
    • Rugs textiles
    • Bath Textiles
    • Bed Textiles
    • Kitchen & Dining Textiles
    • Living Room Textiles
  • Floor covering
    • Tiles
    • Wood & Laminate
    • Vinyl & Rubber
    • Carpets & Rugs
    • Others
  • Furniture
    • Kitchen
    • Living and Bedroom
    • Bathroom
    • Outdoor
    • Lighting
By Distribution Channel
  • Supermarkets and Hypermarkets
  • Specialty Stores
  • E-commerce
  • Others
BY PRICE
  • Premium
  • Mass
By Income Group
  • LOWER-MIDDLE INCOME
  • UPPER-MIDDLE INCOME
  • HIGHER INCOME
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, UAE, Rest of LAMEA)
Key Market Players Inter IKEA Systems BV, 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.
 

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The global home decor market is expected to exhibit notable growth during the forecast period, owing to increase in consumer’s interest toward the concept of home decor. In addition, upsurge in urban population and development of the real estate industry in emerging economies have fostered the sales of home decor products, thereby fueling the growth of the global market. Asia-Pacific is leading the global home décor market, owing to the high demand from residential buyers. It is anticipated that Asia-Pacific would exhibit a significant growth trend during forecast period, owing to increase in demand for home decor products from countries such as India and China. Number of houses and size of households are further expected to impact the market growth.

Furthermore, increase in disposable income and improvement in life style of individuals are expected to offer remunerative opportunities for investors in the home decor market. In the current scenario, eco-friendly home decor products are gaining high acceptance among consumers. Thus, players operating in the market are consolidating their efforts in developing eco-friendly products to capitalize on the increasing demand. Operating players in the market compete on certain parameters such as product design, style, and quality of raw materials. Furthermore, many manufacturers are collaborating with importers, contractors, and interior designers to sell their home decor products. Companies have further opted for e-commerce platforms to sell their products and increase their profit margins by reducing the distribution costs.
 

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FREQUENTLY ASKED QUESTIONS?

A. The global home Decor Market is projected to reach $838,630.9 million by 2027, registering a CAGR of 3.9% from 2020 to 2027. The floor coverings segment was the highest contributor to the market, with $274,869.2 million in 2019, and is estimated to reach $374,832.1 million by 2027, at a CAGR of 4.0% during the forecast period.

A. The CAGR of home décor market was 3.9% from 2020 to 2027. The floor coverings segments was highest contributor to the market followed by furniture segment. Furniture has witnessed an increased adoption among consumers, owing to rise in disposable income and influence of western culture.In addition, surge in adoption of modular kitchen and lighting fuels the need for furniture

A. The factors that have positive effect to the home décor market are Increase in consumer interest toward home décor. Consumer interest toward home décor has increased significantly in the recent past. According to the data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, during 2009–2011, homeowners in U.S. spent nearly $3,200 on their home replenishments.

A. Development of the real estate industry, Increase in urbanization worldwide, Increase in cost of raw materials, Increase in disposable income are some of the key trends in the Home Décor Market. Online buying trend is emerging in the region, which significantly contributes toward the growth of the market

A. The global home decor market is segmented into product type, Income group, price point, distribution channel, and region. On the basis of product type, the market is divided into furniture, home textile, and floor covering. Depending on distribution channel, it is segregated into supermarkets and hypermarkets, specialty stores, e-commerce, and others. By income group, it is fragmentedinto lower-middle income, upper-middle income, and higher income. As per price point, it is categorized into mass and premium.

A. The key players profiled in this report include Inter 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, and Duresta Upholstery Ltd.

A. 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. The forecast period in the market is from 2020 to 2027.

A. Region wise, it is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and Spain, and Rest of Europe), Asia-Pacific(China, India, Japan, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, UAE, and Rest of LAMEA)

A. China and India are expected to grow at CAGR of 3.7% and 3.4% respectively owing to increase in disposable income and improvement in living standards in the emerging countries such as China and India along with rise in affinity of consumers toward luxury home decor products augment the growth of the home décor market

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