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 décor 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 décor 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 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. 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.
Moreover, an increase in disposable income and to 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. Presence of low-cost home decor producers in China and Vietnam is further anticipated to drive the growth of the global market. However, availability of low-quality and counterfeit products restricts the growth of the global market. In addition, the dearth of skilled labor, ineffective transportation, and lack of infrastructure facilities may act as a hindrance for the global home decor market. On the contrary, upA surge in demand for trendy, customized, and fashionable designs for home decor products and an increase in popularity of home decor products among high-income consumers are anticipated to provide lucrative growth opportunities for the global home decor market.
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 fragmented into lower-middle income, upper-middle income, and higher income. As per price point, it is categorized into mass and premium. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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. These players are focusing on the development of eco-friendly home decor products.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTATION
BY Product Type
BY Distribution Channel
Income Group
Price Point
By Region
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 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. 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.
Moreover, an increase in disposable income and to 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. Presence of low-cost home decor producers in China and Vietnam is further anticipated to drive the growth of the global market. However, availability of low-quality and counterfeit products restricts the growth of the global market. In addition, the dearth of skilled labor, ineffective transportation, and lack of infrastructure facilities may act as a hindrance for the global home decor market. On the contrary, upA surge in demand for trendy, customized, and fashionable designs for home decor products and an increase in popularity of home decor products among high-income consumers are anticipated to provide lucrative growth opportunities for the global home decor market.
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 fragmented into lower-middle income, upper-middle income, and higher income. As per price point, it is categorized into mass and premium. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
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. These players are focusing on the development of eco-friendly home decor products.
KEY BENEFITS FOR STAKEHOLDERS
- 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 MARKET SEGMENTATION
BY Product Type
- Furniture
- Kitchen
- Living & Bedroom
- Bathroom
- Outdoor
- Lighting
- Home Textiles
- Rugs Textiles
- Bath Textiles
- Bed Textiles
- Kitchen & Dining
- Textiles
- Living Room Textiles
- Floor Coverings
- Tiles
- Wood & Laminate
- Vinyl & Rubber
- Carpets & Rugs
- Others
BY Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- E-commerce
- Others
Income Group
- Lower-middle Income
- Upper-Middle Income
- Higher Income
Price Point
- Mass
- Premium
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
Frequently Asked Questions about the Global Home Decor Market
What is the estimated value of the Global Home Decor Market?
What is the growth rate of the Global Home Decor Market?
What is the forecasted size of the Global Home Decor Market?
Who are the key companies in the Global Home Decor Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 343 |
| Published | May 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 616.6 billion |
| Forecasted Market Value ( USD | $ 838.6 billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Global Home Decormarket, by Product Type
Chapter 5: Global Home Decormarket, by Distribution Channel
Chapter 6: Global Home Decormarket, by Price
Chapter 7: Global Home Decormarket, by Income Group
Chapter 8: Global Home Decor Market, by Region
Chapter 9: Company Profiles
Executive Summary
According to the report titled, 'Home Decor Market by Product Type, Income Group, Price Point, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2027' 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. In 2019, the floor coverings segment accounted for significant revenue share in the total global home decor market, and is expected to grow at a CAGR of 4.0% throughout the forecast period. North America is one of the prominent regions, which accounted for a sizeable share of the total market in 2019.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 the fact that market players are focusing on developing eco-friendly products, owing to rise in environment awareness.
The floor covering segment occupied the largest share in the overall home decor market in 2019, and is expected to maintain its leading position throughout the forecast period, owing to the wide adoption of floor coverings, globally. In addition, surge 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 consumer-friendly home décor products are anticipated to boost the demand for home decor products. However, availability of low-quality and counterfeit products and fluctuations in the prices of raw materials used to manufacture these products restrain market growth. Conversely, surge in demand for trendy and unique furniture is anticipated to provide lucrative growth opportunities for the home decor industry.
The report segments the global home decor market on the basis of product type, distribution channel, and region. Depending on product type, the market is divided into furniture, home textile, and floor covering. By distribution channel, it is fragmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
In 2018, Floor coverings was the most prominent segment accounting for maximum share in the global market. This can be attributed to rise in trend of home decoration as well as the standard lifestyle. However, the e-commerce segment is expected to witness the highest growth, owing to increase in penetration of internet and online shopping.
Depending on the global home decor market forecast, Asia-Pacific accounted for the maximum share in the global market in 2019, and is anticipated to continue this trend in the near future. This is attributed to upsurge in expenditure of consumers on luxury home decor products and improvement in standard of living. Moreover, developed retail structure and celebrity brand endorsements help push sales in this region. Furthermore, China is expected to grow at the highest CAGR, owing to rapidly improving infrastructure and changes in the buying behavior of people due to increase in disposable income.
Key Findings of the Study:
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.
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.. These players are concentrating on development of eco-friendly home decor products to strengthen their foothold in the market.
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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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