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2020
U.s. Home Decor Market

U.S. Home Decor Market

by Product Type (Furniture, Textiles, and Floor Coverings), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-commerce, and Others), Income Group (Lower-middle Income, Upper-Middle Income, and Higher Income), Price (Mass and Premium), and Category (Eco-friendly and Conventional): Opportunity Analysis and Industry Forecast, 2020-2027
Update Available On-Demand

Report Code: A06775
Pages: 112
Aug 2020 | 9604 Views
Author(s) : Sumesh Kumar , Roshan Deshmukh
Tables: 9
Charts: 36
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The U.S. home decor market size was valued at $125,813.0 million in 2019, and is estimated to reach $158,929.1 million by 2027, registering a CAGR of 8.0% from 2020 to 2027. In 2019, the floor covering segment accounted for significant revenue share in the total U.S. home decor market, and is expected to grow at a CAGR of 8.4% throughout the forecast period.

The home décor industry falls in the category of products, which are purchased occasionally. Hence, the demand for such products does not remain consistent among consumers. However, the outbreak of the novel coronavirus has significantly affected the growth of the home décor market in the U.S. and rest of the world. This decline in growth in the U.S. home décor market is majorly attributed to the disruption of the supply chain. Moreover, halt in the production furniture and flooring items due to social distancing being practiced all around the world has adversely affected the growth of this industry.

The growth of the home decor market in U.S. can be attributed to rapid urbanization and surge in disposable income. 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 U.S. home decor market in the current scenario. The U.S. 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 surge in popularity of home décor 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. However, availability of low-quality and counterfeit products restricts the growth of the global market. In addition, dearth of skilled labors who design décor furniture and flooring items and ineffective transportation may act as a hindrance for the home decor market. On the contrary, upsurge in demand for trendy, customized, and fashionable designs of home decor products and increase in popularity of home decor products among high-income consumers are anticipated to provide lucrative opportunities for the U.S. home decor market growth.

US-Home-Decor-Market,-2020-2027

The U.S. home decor market is segmented on the basis of product type, income group, price point, distribution channel, and category. 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 the U.S. home decor market is fragmented into lower-middle income, upper-middle income, and higher income. As per price point, it is categorized into mass and premium. According to category, the market is differentiated into eco-friendly and conventional.

U.S. Home Decor Market
By Product Type

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The floor coverings was the fastest growing segment.

By product type, floor covering segment occupied the largest share in the overall U.S. home decor market in 2019, and is expected to maintain it leading position throughout the forecast period, owing to wide adoption of floor coverings. Furthermore, the growth of the segment is driven by rise in trend of home decoration and improvement in living standards.

U.S. Home Decor Market
By Distribution Channel

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E commerce was the fastest growing segment.

On the basis of U.S. home decor market analysis by distribution channel, the specialty store segment was the highest contributor to the U.S. home décor market in 2019, and is expected to remain dominant through 2020-2027. The growth can be attributed to higher service quality, expert guidance, and the option to physically check at the product before owning it. However, the e-commerce segment in the U.S. home decor market is expected to register the fastest growth through the forecast period, owing to increase in penetration of internet and wide adoption of mobile shopping among consumers.

U.S. Home Decor Market
By Price

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Mass was the dominant segment in 2019.

As per the U.S. home decor market forecast based on price, the mass segment was the highest contributor to the U.S. home decor market in 2019, and is expected to remain dominant through 2020–2027. The growth is attributed to increase in consumption of mass pricing products by lower-middle and upper-middle class consumers. Furthermore, rise in trend of house renovation among middle-class consumers to reflect standard statement in the society has created large demand for mass products. However, the premium segment is expected to grow at a higher growth rate during the forecast period.

U.S. Home Decor Market
By Income Group

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Higher income was the dominant segment in 2019.

According to the income group, the higher income segment was the highest contributor to the U.S. home decor market in 2019 and is expected to remain dominant through 2020-2027.  The dominant position can be attributed to higher purchasing power of consumer in this category. The upper-middle income segment is expected to grow at a notable growth rate through the forecast period.

U.S. Home Decor Market
By Category

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Conventional was the dominant segment in 2019.

Depending on the category, the conventional segment was the highest contributor to the U.S. home decor market in 2019, and is expected to remain dominant through 2020–2027. The eco-friendly segment is expected to grow at a highest growth rate throughout the forecast period

The players in the U.S. home decor industry have adopted product launch and business expansion as their key development strategies to increase profitability, and to improve stance in the U.S. home decor market share. 

Key Benefits For Stakeholders

  • The report provides a quantitative analysis of the current U.S. 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 market size and segmentation assists to determine the prevailing U.S. home decor market opportunities.
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

U.S. 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 & BEDROOM
    • BATHROOM
    • OUTDOOR
    • LIGHTING
By Distribution Channel
  • SUPERMARKETS & HYPERMARKETS
  • SPECIALTY STORES
  • E-COMMERCE
  • OTHERS
By Price
  • PREMIUM
  • MASS
By Income Group
  • LOWER MIDDLE INCOME
  • UPPER MIDDLE INCOME
  • HIGHER INCOME
BY CATEGORY
  • Eco-friendly
  • Conventional
 

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The U.S. 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 have fostered the sales of home decor products, thereby fueling the growth of the market. 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 U.S. home decor market size was valued at $125,813.0 million in 2019, and is estimated to reach $158,929.1 million by 2027.

A. The U.S. home decor market size is estimated to grow at a CAGR of 8.0% from 2020 to 2027.

A. The growth of the home decor market in U.S. can be attributed to rapid urbanization and surge in disposable income.

A. There is a surge in popularity of home décor 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.

A. The U.S. home decor market is segmented on the basis of product type, income group, price point, distribution channel, and category.

A. Herman Miller, Haworth, HNI are some of the leading pleyers in the U.S. market.

A. The forecast period for the report is 2020-2027.

A. 2019 is the base year for the report.

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