Home Decor Market:
Growth opportunities in the Home Decor Market look promising over the next six years. This is mainly due to the rising urban population leading to the better lifestyle of people and extension of the interior designing sector.
Home Decor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The enlargement of the interior designing industry along with the rapid urbanization are some of the crucial drivers supplementing the growth of the global home décor market. Also, the ongoing relocation of individuals from rural to urban areas searching for better facilities, growth opportunities, enhanced lifestyle, and employment will strengthen the market size. In accordance with the analysis of the UN Department of Economics and Social Affairs, 68% population of the entire world would reside in urban areas by 2050. Additionally, the world population could enumerate another 2.5 billion people to urban areas by 2050. The shift results in an accelerated disposable income which has altered the living standard of people. Living in a house is no more a basic requirement of an individual but has become a status symbol these days. People desire to live in a charming house with contentment and security. Thus, the augmenting urban population is raising the market demand. However, as per the home décor market analysis, the raw material employed in home décors such as fabric, rattan, stone, and wood are quite costly, restricting individuals from decorating their houses, thereby curbing the market growth. Nevertheless, the mounting disposable income of individuals primarily in the developing economies may downturn the price of raw material, or they might be affordable for a broad base of population, which might bolster the home décor market share.
Product Segment Drivers
On the basis of product, the market is segmented into textile, furniture, and flooring. Among these, furniture is expected to dominate the market during the forecast period. This is mainly attributed to the surging income level of individuals, which makes them more inclined towards attractive furniture for their kitchen, bathroom, and living room. Also, they are applied in commercial and residential decoration, wherein shape and design improve the look of the place, which is an important characteristic in the furniture industry that impacts customers’ decision-making.
Home Decor Market’s leading Manufacturers:
- Springs Window Fashions LLC
- Koninklijke Philips N.V
- Hanssem Corporation
- Kimball International, Inc
- Suofeiya Home Collection Co., Ltd.
- HOME24
- Herman Miller, Inc.
- IKEA Systems B.V.
Home Decor Market Segmentation:
Segmentation by Product
- Furniture
- Textile
- Flooring
- Others
Segmentation by Application
- Indoor
- Outdoor
Segmentation by Distribution Channel
- Supermarkets & Hypermarkets
- Specialty Stores
- E-commerce
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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