Global Home Decor Market by Application (Outdoor, Indoor), by Product (Flooring, Furniture, Textile) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global home decor market was worth USD 663.1 million. The market will see a rise in demand for furniture, fixtures, and upholstery products. Consumer preferences for decorative items, especially wooden flooring and furniture, fuel the market's product demand. The demand for home decor products with creative designs, made from different raw materials, has increased due to consumer preference for eco-friendly products that are less harmful to the environment.

Market growth has been driven by the shifting lifestyle of urban consumers due to increasing urbanization. The changing lifestyle requires furniture and furnishings that are high quality. The United Nations estimates that 55.0% of global population lives in urban areas. This will have a positive impact on the market for home decor products over the forecast period. The home decor market will also benefit from the expansion and development of the real estate sector.

Globalization has created a larger market that allows for easier product availability and a wide range of products through different distribution channels. The interior design industry's growth has allowed for more luxurious and exquisite home decor products, which provide an unforgettable experience for visitors. These premium and fancy products add to the home's sophistication and provide a spiritual and aesthetic experience. The availability of many home decor products, such as wood or marble flooring, decorative lighting and eco-friendly furniture, is increasing due to consumer preference.

The popularity of online home decor products has increased due to the increasing use of e-commerce, smart devices such as tablets and mobile phones with easy payment options and distribution options. Different home decor products have also seen a rise in market share due to their easy availability and access. These products are not always affordable, making it more difficult for people of all income levels to buy them. The market growth is also impeded by the rising cost of raw materials such as leather and wood.

Product Insights

In 2018, furniture accounted for 51.1% of total revenue. The segment has seen a rise in popularity for wooden furniture due to its superior quality and attractiveness. Modular kitchens and wardrobes are also more popular due to western culture.

The adoption of eco-friendly products is on the rise. This has led to increased application in bedrooms, bathrooms, outdoors, indoors, and other areas of the house. There are many raw materials that can be used to make furniture, including metal, plastic, glass and leather. You also have the option of using pinewood as an alternate. Multifunctional furniture is also growing in popularity due to its convenience.

The revenue-based CAGR for will be 7.2% between 2019 and 2025. Products include floor coverings, upholstery, kitchen linen, curtain, floor covering, and bathroom linen. These products are being used more frequently due to the growing interest in hygiene and safety, as well as maintaining a homely environment. The segment is also expected to grow because of increased adoption of large-sized beds and mattresses due to western culture influence.

Application Insights

In 2018, the indoor application segment held the largest share at 92.6%. Indoor application refers to indoor living spaces such as bedrooms, living rooms, bathrooms, kitchens, and other areas within a house. Consumers are more inclined to buy these products because of the shifting trends toward innovative and creative furnishing. The market for foldable furniture has grown due to the increasing preference for small-sized products.

Inter IKEA Systems B.V. launched space-saving shelves in February 2019 under its IVAR storage product line. This product was designed for those who live in small spaces. The indoor decor market has great potential due to the increasing use of upholstery in many applications. Consumers are more inclined to purchase luxury products for their bathrooms and bedrooms, due to the western lifestyle. There is a greater demand for lighting solutions that can be used to decorate the living rooms.

Due to western culture's increasing influence, the outdoor application market is expected to grow at 7.6% CAGR between 2019 and 2025. This segment is driven by a growing preference for outdoor seating in residential homes. The key drivers are consumer preference for open-space seating that is close to nature, and the growing preference of urban consumers for such environments.

Outdoor decor is becoming more popular due to the increasing urban population. Urban consumers who want to enjoy the outdoors are investing heavily in outdoor decor products, such as outdoor seating, decorative lighting, and wooden or grassy floors.

Regional Insights

North America accounted for 37.7% of global revenue in 2018. It was the largest region market. This market's growth is due to greater product accessibility and increased penetration of both online and offline channels of home d©cor. A large number of market players in the region sees the greatest penetration of various decor products, such as lighting, flooring, and textiles. Due to rising consumer willingness to spend on decor products, the U.S. is the dominant market for outdoor furniture.

Due to shifting populations to urban areas, the Asia Pacific market will see significant growth. This region is seeing a strong growth in the real estate sector, which means that new buildings and houses are being built. New construction results in new and innovative products on the market. The demand for home decor products has increased due to the growth of interior design in emerging countries like India, China, and Indonesia. The trend towards using recycled materials to create fashionable looks has risen due to a growing desire for eco-friendly products. This has led to a rise in creativity in the production of home decor products.

Market Share Insights & Key Companies

The industry's key players include Inter IKEA Systems B.V., Kimball International Inc., Herman Miller, Inc., Koninklijke Philips N.V., Conair Corporation, Suofeiya Home Collection Co., Ltd., Springs Window Fashions LLC, and Siemens AG. As a result, the market's top players are focusing on product innovation. This helps them to gain more market share globally. Because consumers are increasingly looking for luxury and a high-end lifestyle, new product launches help to keep their interest alive.

Home Decor Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at all levels, including the country, regional and global. It also provides analysis of industry trends and potential opportunities for each sub-segment from 2015 to 2025. Grand View Research divided the global home decor market report by product, region, and application.

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Furniture

  • Textile

  • Flooring

  • Other

• Application Outlook (Revenue, USD Billion, 2015 - 2025)

  • Indoor

  • Outdoor

• Regional Outlook (Revenue USD Billion, 2015-2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Middle East & Africa (MEA)

    • South Africa

  • Central & South America

    • Brazil

These are the most frequently asked questions about this report

b. Global home decor market was valued at USD 697.18 Billion in 2019, and is projected to grow to USD 737.20 Billion by 2020.

b. Global home decor market will grow at 6.6% compound annual growth rate from 2019 to 2025, to reach USD 1,037.14 trillion by 2025.

b. With a 37.5% share in 2019, North America was the dominant market for home decor. This can be attributed to increased product accessibility and penetration of both online and offline sales channels for home d©cor products.

b. Among the key players in the home decor market are Inter IKEA Systems B.V., Kimball International Inc., Herman Miller, Inc., home24; Hanssem Corporation, Koninklijke Philips N.V., Conair Corporation, Suofeiya Home Collection Co., Ltd., Springs Window Fashions LLC, and Siemens AG.

b. The key factors driving home decor market growth are increasing demand for furniture, fixtures and upholstery products as well as consumer preferences for fancy decorative pieces, especially wooden.

Up Market Research published a new report titled “Home Decor Market research report which is segmented by Application (Outdoor, Indoor), by Product (Flooring, Furniture, Textile), By Players/Companies Inter IKEA Systems BV; Kimball International Inc; Herman Miller, Inc; home24; Hanssem Corporation; Koninklijke Philips NV; Conair Corporation; Suofeiya Home Collection Co, Ltd; Springs Window Fashions LLC; and Siemens AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Home Decor Market Report Segments:

The market is segmented by Application (Outdoor, Indoor), by Product (Flooring, Furniture, Textile).

Home Decor Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Home Decor Market

Overview of the regional outlook of the Home Decor Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Home Decor Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Home Decor Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Outdoor

                2. Indoor

                1. Flooring

                2. Furniture

                3. Textile

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Home Decor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
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Reasons to Purchase the Home Decor Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.