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Home Decor Market by Product (Furniture, Textiles (Rugs, Bath Textiles, Bed Textiles, Kitchen and Dining Textiles, Living room Textiles), Floor coverings (Tiles, Wood & Laminate, Vinyl & Rubber, Carpet & Rugs) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020

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Pages: 110
Dec 2015 | 88529 Views
 
Author's : Shrikant Chaudhari
Tables: 37
Charts: 34
 

Home Decor Market - Analysis and Industry Forecast:

Home Decor Market is expected to garner $664.0 billion by 2020, registering a CAGR of 4.2% during the forecast period 2015-2020. Furniture, textiles and floor covering products are key components of home decor. Expansion and developments in real estate industry, have supplemented the growth of world home decor market. Globalization facilitates easier and wider availability of home decor products and designs for consumers. Moreover, growing consumer preference towards adoption and usage of eco-friendly products, known for their minimal impact on the environment, has also boosted the growth of the market.

Nowadays, consumers prefer online retail platforms for buying furniture, owing to availability of a wide array of home decor products at discounted/affordable price. Increasing cost of raw materials, such as leather and superior quality wood, is limiting the market growth. Improving lifestyle and increasing disposable income of individuals would offer several growth opportunities to the players operating in the market.

Top Factors Impacting World Home Decor Market

top-factors-impacting-world-home-decor-market
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Growing consumer interest towards home decor:

Number of homeowners has increased significantly in the recent years, especially in emerging economies, thereby spurring a growing interest, among these owners. Additionally, home décor products have gained a high acceptance among home owners who want to renovate the home interior and exteriors. The impact of this factor would increase during the forecast period, thereby consequentially fostering the demand of home décor products, during the forecast period. Real estate industry has witnessed significant market growth worldwide, owing to the increasing disposable income.

Growth in real estate industry:

Real estate industry has experienced growth in the last few decades in residential as well as commercial sector. Booming real estate industry is driving the growth of the home décor market. Increasing growth rate of new constructions, especially in developing Asian countries would influence the market by 2020.

Increasing rate of urbanization:

Increasing urban population is one of the strong impacting factors affecting the home decor market. Urban culture influences an individuals’ living style. Presently, most of the world population lives in rural areas. According to the data released by United Nations, near about 54% of the world’s population were living in urban areas in 2014, and more of rural population is expected to shift to urban areas during the forecast period. The impact of this factor would increase during the forecast period, thereby consequentially fostering the demand of home décor products in the near future.

Increasing cost of raw material:

Cost and availability of raw materials play a vital role in home decor market. Raw materials such as metal, wood, plastic, glass, leathers, rattan, fabrics and stone are used for manufacturing furniture. For floor covering, manufacturing tiles, wood & laminate, vinyl & rubber, carpet & rugs and others (linoleum, cork, bamboo, concrete), are essential raw materials. Cost of raw materials has increased significantly in the past few years. However, by 2020, it is expected that the cost of raw materials such as plastic and glass, would decrease owing to advancements in production technology of these raw materials Thereby, these factors would create a favorable environment for home decor market in future.

Value chain analysis

Value chain of the home decor market comprises various stakeholders, such as raw materials and components suppliers, manufacturers or furniture integrators and distribution channel. Each of these stakeholders share a specific value at their point of operation, which, in turn, contributes to the competitive value of the product. Materials, design, style and furnishing of the home décor products enhance the value associated with the end deliverable by each players.

Value Chain Analysis of Home Décor Market

Value chain analysis of home decor market
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Top investment pockets

In the illustration for top investment pockets, home décor products, such as home textile, floor coverings and furniture, are positioned according to their respective market potential. The analysis presented in this section highlights the attractiveness of each segment in an effort to identify lucrative market areas for investment. Floor covering, is the most lucrative product amongst all home décor products in terms of market attractiveness. Floor covering segment occupies high market share as compared to furniture and textile segment. Furniture has witnessed an increased adoption among consumers, owing to increased disposable income and influence of western culture.

Segment Overview:

The world home decor market is segmented on the basis of products and geography. The product segment is further segmented into furniture, textiles and floor coverings. The furniture segment is sub-segmented into kitchen, living & bedroom, bathroom, outdoor and lighting. The textiles segment is further categorized into rugs textiles, bath textiles, bed textiles, kitchen & dining textiles and living room textiles. The floor coverings segment includes tiles, wood & laminate, vinyl & rubber, carpets & rugs and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA regions.

Market Segmentation

Home decor market segmentation
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World Home Decor Market by Product

Based on product, the market is broadly classified into home textile, floor covering and furniture. Furniture has witnessed an increased adoption among consumers, owing to the increased disposable income and influence of western culture, especially growing adoption of modular kitchen and lighting. The furniture segment encompasses furniture used in kitchen, living and bedroom, bathroom, outdoor and lighting.

Furniture are used for domestic as well commercial purposes. Various materials such as metal, wood, plastic, glass and leather are used solely or in combination with other materials to manufacture parts of furniture. Shape and structure with reference to design are important factors in the furniture industry as it directly influences the consumers’ decision to buy a particular product. Multifunctional furniture is gaining popularity among urban consumers.

Globally, there are a large number of international and domestic players, who provide furniture in the market. Companies such as Kimball International, Herman Miller, Ashley Furniture Industries, Inc. and IKEA are some of the prominent players in the furniture market. These companies offer a wide range of furniture products of various categories, colors, material textures and styles.

Key Benefits

  • The study provides an in-depth analysis of the world home decor market with current and future trends to elucidate the imminent investment pockets in the market
  • Current and future trends have been outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
  • The report provides information regarding key drivers, restraints and opportunities with impact analysis
  • Quantitative analysis of the current market and forecast during the period from 2015-2020 have been provided to highlight the financial appetency of the market
  • Porters five forces model analysis of the industry illustrates the potency of the buyers and suppliers participating in the market
  • Value chain analysis in the report provides a clear understanding on the roles of stakeholders involved in the value chain

Home Decor Market Key Segments:

The world home decor market is segmented as:

Market by Product

  • Furniture
    • Kitchen
    • Living & bedroom
    • Bathroom
    • Outdoor
    • Lighting
  • Textiles
    • Rugs
    • Bath Textiles
    • Bed Textiles
    • Kitchen and Dining Textiles
    • Living room Textiles
  • Floor coverings
    • Tiles
    • Wood & Laminate
    • Vinyl & Rubber
    • Carpet & Rugs
    • Others (Linoleum, Cork, Bamboo, Concrete)

Market by Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
 

Table of Contents

Chapter 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

Chapter 2 EXECUTIVE SUMMARY

2.1 CXO perspective

Chapter 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Key Findings

3.2.1 Top impacting factors
3.2.2 Top investment Pockets
3.2.3 Top winning strategies

3.3 Porters Five force Analysis

3.3.1 Presence of several domestic players lead to high rivalry
3.3.2 Multiplicity of options leads to high bargaining power of the buyer
3.3.3 Presence of several suppliers with low product differentiation lowers bargaining power of suppliers
3.3.4 Low feasibility of alternatives leads to low threats of substitute
3.3.5 Low brand loyalty and low product differentiation creates high threats of new entrants

3.4 Value chain analysis
3.5 Market dynamics

3.5.1 Drivers

3.5.1.1 Growing consumer interest towards home dcor
3.5.1.2 Growth and developments in real estate industry
3.5.1.3 Increaing urbanization worldwide

3.5.2 Restraints

3.5.2.1 Increasing cost of raw materials

3.5.3 Opportunities

3.5.3.1 Increasing disposable income
3.5.3.2 Improving life style

Chapter 4 WORLD HOME DECOR MARKET BY PRODUCT TYPE, 2014-2020, $MILLION

4.1 Furniture

4.1.1 Key market trends
4.1.2 Key growth factors and opportunities
4.1.3 Competitive scenario
4.1.4 Market size and forecast
4.1.5 Kitchen

4.1.5.1 Key market trends
4.1.5.2 Key growth factors and opportunities
4.1.5.3 Competitive scenario
4.1.5.4 Market size and forecast

4.1.6 Living and bedroom

4.1.6.1 Key market trends
4.1.6.2 Key growth factors and opportunities
4.1.6.3 Competitive scenario
4.1.6.4 Market size and forecast

4.1.7 Bathroom

4.1.7.1 Key market trends
4.1.7.2 Key growth factors and opportunities
4.1.7.3 Competitive scenario
4.1.7.4 Market size and forecast

4.1.8 Outdoor

4.1.8.1 Key market trends
4.1.8.2 Key growth factors and opportunities
4.1.8.3 Competitive scenario
4.1.8.4 Market size and forecast

4.1.9 Lighting

4.1.9.1 Key market trends
4.1.9.2 Key growth factors and opportunities
4.1.9.3 Competitive scenario
4.1.9.4 Market size and forecast

4.2 Home Textile

4.2.1 Key market trends
4.2.2 Key growth factors and opportunities
4.2.3 Competitive scenario
4.2.4 Market size and forecast
4.2.5 Rug

4.2.5.1 Key market trends
4.2.5.2 Key growth factors and opportunities
4.2.5.3 Competitive scenario
4.2.5.4 Market size and forecast

4.2.6 Bath Textiles

4.2.6.1 Key market trends
4.2.6.2 Key growth factors and opportunities
4.2.6.3 Competitive scenario
4.2.6.4 Market size and forecast

4.2.7 Bed Textiles

4.2.7.1 Key market trends
4.2.7.2 Key growth factors and opportunities
4.2.7.3 Competitive scenario
4.2.7.4 Market size and forecast

4.2.8 Kitchen & dining textiles

4.2.8.1 Key market trends
4.2.8.2 Key growth factors and opportunities
4.2.8.3 Competitive scenario
4.2.8.4 Market size and forecast

4.2.9 Living room textiles

4.2.9.1 Key market trends
4.2.9.2 Key growth factors and opportunities
4.2.9.3 Competitive scenario
4.2.9.4 Market size and forecast

4.3 Floor covering

4.3.1 Key market trends
4.3.2 Key growth factors and opportunities
4.3.3 Competitive scenario
4.3.4 Market size and forecast
4.3.5 Tiles

4.3.5.1 Key market trends
4.3.5.2 Key growth factors and opportunities
4.3.5.3 Competitive scenario
4.3.5.4 Market size and forecast

4.3.6 Wood & laminate

4.3.6.1 Key market trends
4.3.6.2 Key growth factors and opportunities
4.3.6.3 Competitive scenario
4.3.6.4 Market size and forecast

4.3.7 Vinyl & rubber

4.3.7.1 Key market trends
4.3.7.2 Key growth factors and opportunities
4.3.7.3 Competitive scenario
4.3.7.4 Market size and forecast

4.3.8 Carpets & rugs

4.3.8.1 Key market trends
4.3.8.2 Key growth factors and opportunities
4.3.8.3 Competitive scenario
4.3.8.4 Market size and forecast

4.3.9 Others

4.3.9.1 Key market trends
4.3.9.2 Key growth factors and opportunities
4.3.9.3 Competitive scenario
4.3.9.4 Market size and forecast

Chapter 5 WORLD HOME DECOR MARKET BY GEOGRAPHY, 2014-2020, $MILLION

5.1 North America

5.1.1 Key market trends
5.1.2 Key growth factors and opportunities
5.1.3 Competitive scenario
5.1.4 Market size and forecast

5.2 Europe

5.2.1 Key market trends
5.2.2 Key growth factors and opportunities
5.2.3 Competitive scenario
5.2.4 Market size and forecast

5.3 Asia-Pacific

5.3.1 Key market trends
5.3.2 Key growth factors and opportunities
5.3.3 Competitive scenario
5.3.4 Market size and forecast

5.4 LAMEA

5.4.1 Key market trends
5.4.2 Key growth factors and opportunities
5.4.3 Competitive scenario
5.4.4 Market size and forecast

Chapter 6 COMPANY PROFILES

6.1 Inter IKEA Group

6.1.1 Company overview
6.1.1 Business performance
6.1.2 SWOT analysis of Inter IKEA Group

6.2 Forbo International SA

6.2.1 Company overview
6.2.2 Business performance
6.2.3 SWOT analysis of Forbo International SA

6.3 Armstrong World Industries Inc.

6.3.1 Company overview
6.3.2 Business performance
6.3.3 SWOT analysis of Armstrong World Industries, Inc.

6.4 Mannington Mills, Inc.

6.4.1 Company overview
6.4.2 Strategic moves and developments
6.4.3 SWOT analysis of Mannington Mills Inc.

6.5 Mohawk Industries Inc.

6.5.1 Company overview
6.5.2 Business performance
6.5.3 Strategic moves and developments
6.5.4 SWOT analysis of Mohawk Industries, Inc.

6.6 Shaw Industries Group, Inc.

6.6.1 Company overview
6.6.2 SWOT analysis of Shaw Industries

6.7 Herman Miller Inc.

6.7.1 Company overview
6.7.2 Business Performance
6.7.3 Strategic moves and developments
6.7.4 SWOT analysis of Herman Miller Inc.

6.8 Ashley Furniture Industries Ltd.

6.8.1 Company overview
6.8.2 SWOT analysis of Ashley Furniture Industries, Inc.

6.9 Kimball International

6.9.1 Company overview
6.9.2 Business performance
6.9.3 SWOT analysis of Kimball International

6.10 Duresta Upholstery Ltd.

6.10.1 Company overview
6.10.2 SWOT analysis of Duresta Upholstery Ltd.

List of Figures

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP INVESTMENT POCKETS OF HOME DCOR MARKET
FIG. 3 TOP WINNING STRATEGIES OF HOME DCOR MARKET
FIG. 4 PORTERS FIVE FORCE ANALYSIS
FIG. 5 VALUE CHAIN ANALYSIS
FIG. 6 U.S. FURNISHINGS AND DURABLE HOUSEHOLD EQUIPMENT EXPENDITURES (2013-2014)
FIG. 7 VALUE OF PRIVATE RESIDENTIAL CONSTRUCTION IN U.S., IN $MILLION (2009-2014)
FIG. 8 GROSS NATIONAL DISPOSABLE INCOME PER CAPITA (PPS) IN SELECTED EUROPEAN COUNTRIES, IN EURO(2008-2013)
FIG. 9 URBAN POPULATION IN SELECTED ASIAN COUNTRIES, IN % (2011-2014)
FIG. 10 SWOT ANALYSIS OF INTER IKEA GROUP
FIG. 11 REVENUE GENERATED BY FORBO INTERNATIONAL SA, 2012-2014 ($MILLION)
FIG. 12 REVENUE OF FORBO INTERNATIONAL SA BY BUSINESS SEGMENT (%), 2014
FIG. 13 REVENUE OF FORBO INTERNATIONAL SA BY GEOGRAPHY (%), 2014
FIG. 14 SWOT ANALYSIS OF FORBO INTERNATIONAL SA
FIG. 15 REVENUE GENERATED BY ARMSTRONG WORLD INDUSTRIES, INC., 2012-2014 ($MILLION)
FIG. 16 REVENUE OF ARMSTRONG WORLD INDUSTRIES, INC. BY BUSINESS SEGMENT (%), 2014
FIG. 17 REVENUE OF ARMSTRONG WORLD INDUSTRIES, INC. BY GEOGRAPHY (%), 2014
FIG. 18 SWOT ANALYSIS OF ARMSTRONG WORLD INDUSTRIES, INC.
FIG. 19 SWOT ANALYSIS OF MANNINGTON MILLS INC.
FIG. 20 REVENUE GENERATED BY MOHAWK INDUSTRIES INC., 2012-2014 ($MILLION)
FIG. 21 REVENUE OF MOHAWK INDUSTRIES INC. BY BUSINESS SEGMENT (%), 2014
FIG. 22 REVENUE OF MOHAWK INDUSTRIES INC. BY GEOGRAPHY (%), 2014
FIG. 23 SWOT ANALYSIS OF MOHAWK INDUSTRIES, INC.
FIG. 24 SWOT ANALYSIS OF SHAW INDUSTRIES
FIG. 25 REVENUE GENERATED BY HERMAN MILLER INC., 2012-2014 ($MILLION)
FIG. 26 REVENUE OF HERMAN MILLER INC. BY BUSINESS SEGMENT (%), 2014
FIG. 27 REVENUE OF HERMAN MILLER INC. BY GEOGRAPHY (%), 2014
FIG. 28 SWOT ANALYSIS OF HERMAN MILLER INC.
FIG. 29 SWOT ANALYSIS OF ASHLEY FURNITURE INDUSTRIES, INC.
FIG. 30 REVENUE GENERATED BY KIMBALL INTERNATIONAL, 2012-2014 ($MILLION)
FIG. 31 REVENUE OF KIMBALL INTERNATIONAL BY BUSINESS SEGMENT (%), 2014
FIG. 32 REVENUE OF KIMBALL INTERNATIONAL BY GEOGRAPHY (%), 2014
FIG. 33 SWOT ANALYSIS OF KIMBALL INTERNATIONAL
FIG. 34 SWOT ANALYSIS OF DURESTA UPHOLSTERY LTD.

List of Tables

TABLE 1 WORLD HOME DCOR MARKET REVENUE BY PRODUCT, 2014-2020 ($MILLION)
TABLE 2 WORLD HOME DCOR MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 3 WORLD FURNITURE MARKET REVENUE BY TYPE, 2014-2020 ($MILLION)
TABLE 4 WORLD FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 5 WORLD KITCHEN FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 6 WORLD LIVING & BEDROOM FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 7 WORLD BATHROOM FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 8 WORLD OUTDOOR FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 9 WORLD LIGHTING FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 10 WORLD HOME TEXTILE MARKET REVENUE BY TYPE, 2014-2020 ($MILLION)
TABLE 11 WORLD HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 12 WORLD RUG HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 13 WORLD BATH HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 14 WORLD BED HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 15 WORLD KITCHEN & DINING HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 16 WORLD LIVING ROOM HOME TEXTILE MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 17 WORLD FLOOR COVERING MARKET REVENUE BY TYPE, 2014-2020 ($MILLION)
TABLE 18 WORLD FLOOR COVERING MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 19 WORLD TILE FLOOR COVERING MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 20 WORLD WOOD & LAMINATE FLOOR COVERING MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 21 WORLD VINYL & RUBBER FLOOR COVERING MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 22 WORLD CARPET & RUGS FLOOR COVERING MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 23 WORLD OTHER FLOOR COVERING MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 24 NORTH AMERICA HOME DECOR MARKET REVENUE BY PRODUCT, 2014-2020 ($MILLION)
TABLE 25 EUROPE HOME DECOR MARKET REVENUE BY PRODUCT, 2014-2020 ($MILLION)
TABLE 26 ASIA-PACIFIC HOME DECOR MARKET REVENUE BY PRODUCT, 2014-2020 ($MILLION)
TABLE 27 LAMEA HOME DECOR MARKET REVENUE BY PRODUCT, 2014-2020 ($MILLION)
TABLE 28 SNAPSHOT OF INTER IKEA GROUP
TABLE 29 SNAPSHOT OF FORBO INTERNATIONAL SA
TABLE 30 SNAPSHOT OF ARMSTRONG WORLD INDUSTRIES, INC.
TABLE 31 SNAPSHOT OF MANNINGTON MILLS INC.
TABLE 32 SNAPSHOT OF MOHAWK INDUSTRIES INC.
TABLE 33 SNAPSHOT OF SHAW INDUSTRIES
TABLE 34 SNAPSHOT OF HERMAN MILLER INC.
TABLE 35 SNAPSHOT OF ASHLEY FURNITURE INDUSTRIES, INC.
TABLE 36 SNAPSHOT OF KIMBALL INTERNATIONAL
TABLE 37 SNAPSHOT OF DURESTA UPHOLSTERY LTD.

 

Global home décor market is expected to exhibit a notable growth during the forecast period (2015-2020). Growing consumer’s interest towards the concept of home décor has significantly boosted the market growth. High growth in urban population and booming real estate industry in emerging economies have fostered the high sales volume of home décor products.  Asia-Pacific is leading the global home décor market, owing to the high demand from residential buyers. It is estimated that Asia-Pacific would exhibit a significant growth trend during forecast period owing to the increasing demand for home décor products from countries such as India & China. Number of houses and size of households are also expected to affect the market growth.  According to China’s National Bureau of Statistics, Chinese construction industry is expected to rise from US$2 trillion in 2014 to US$2.5 trillion in 2019, further, indicating that home décor market in Asia region is expected to grow in tandem with real estate market. 

Increasing disposable income and improving life style of individuals would offer several opportunities for investors in the home decor market. In the current scenario, eco-friendly home décor products are gaining high acceptance among the consumers. Thereby, players operating in the market are consolidating their efforts into 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 material.  Besides this, many manufacturers are collaborating with importers, contractors and interior designers to sell/retail their home décor products. Additionally, companies have opted for e-commerce platforms to sell their products and increase their profit margins by reducing the distribution costs.

According to the World Bank data, urbanization rate in countries such as China, India, Malaysia, Indonesia and Thailand is increasing rapidly. Since urbanization is a key influencing factor of the market, Asia Pacific region is expected to gain a stronger foothold, thus, driving the market growth. According to the data revealed by the Census of India, urbanization level increased from 27.8% to 31.2% from 2001 to 2011. Further, the Ministry of Statistics Program and Implementation estimated that Indian real estate industry would witness a notable growth of 8%-9% during the forecast period. Thereby, urbanization and growth of real estate industry would boost the market growth in India. As per data revealed by U.S. Census Bureau, value of private residential construction in the U.S. attained a market value of $4,083,074 Million in 2014 from $2,958,138 Million in 2009. Furthermore, individual expenditure on furnishing and household equipment has exhibited a significant growth. According to the data from Eurostat, per capita national disposable income in countries such as Germany, U.K., France, Italy and Spain increased by nearly 21.0%, 1.1%, 9.1%, 3.0%, and 2.2% from 2009 to 2014 respectively. This increased disposable income of the individuals enabled them to spend more on home décor products. Thereby, increasing disposable income and growth in real-estate industry would fuel the market growth in developed countries in coming years.

 

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