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Pulished Date February, 2021
ID: 10986
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Home Decor Market Size, Share, Trends and Growth Analysis Report – Segmented By Product Type (Furniture, Home Textiles and Floor Coverings), Income Group (Lower Middle Income, Upper Middle Income and High Income), Price Point (Mass and Premium), Distribution Channel (Specialty Stores, Supermarket/Hypermarket, E-Commerce and Others) and Region - Industry Forecast of 2021 to 2026

Pulished: February, 2021
ID: 10986
Pages: 175

Home Decor Market Trends and Forecast 2026:

Home Decor Market was valued at $ 727.6 billion in 2021 and is anticipated to reach $ 939.7 billion, registering a CAGR of 6.8% from 2021 to 2026.

Home decor products include various items such as furniture, home textiles, and floor coverings. Depending on the end-use, furniture designs can be modified through mechanical and artisanal processes. Adoption of home decor products has been significantly high in developed regions such as the United States, Canada, and Germany while emerging countries such as China, Brazil, and India are seeing a steady increase.

Home Decor Market Growth:

The global home decor market is highly fragmented due to the presence of multiple vendors among international and regional players. The development of the real estate industry is driving the growth of the global interior design market in the current scenario. The worldwide home decor market has seen significant growth over the years and is expected to grow steadily over the outlook period. This is attributed to an increase in the popularity of interior design products such as furniture, home textiles, and flooring among worldwide consumers.

Recent Developments and Trends:

In August 2020, Ashley Furniture has announced that it is expanding its operations at its Verona and Saltillo facilities. The expansions will create 130 jobs at both facilities. Ashley will invest $ 13 million in its Verona plant, and this includes the construction of a building and the purchase of new equipment.

In August 2020, The Home Depot has announced that it will open three new distribution centers in Georgia over the next 18 months to meet the growing demand for flexible pickup and delivery options for commercial and DIY customers.

Home Decor Market Drivers:

The shift in consumer trend towards an urban lifestyle due to the increasing rate of urbanization has fueled the growth of the global home décor market. The change in lifestyle entails the adequate adaptation of furniture and appliances to high-end products of excellent quality. According to the United Nations, 55.0% of the world's population resides in urban areas in 2018. Therefore, this increase in the rate will have a positive effect on the demand for home decor products during the forecast period. Also, the expansion and development of the real estate sector is supposed to complement the growth of the home décor industry. Globalization has led to a larger market for consumers, facilitating the availability of products with a variety of products in different distribution channels. Additionally, the growth of the interior design industry has paved the way for premium and luxury home décor products that provide an enjoyable experience for visitors. These high-end, novelty products help bring spiritual and aesthetic pleasure, which also adds sophistication to consumers living at home. The increasing preference of consumers for home renovation after a certain period of time increases the availability of different interior design products such as wood or marble floors, decorative lighting, and environmentally-friendly furniture. Besides, the increasing penetration of e-commerce and smart devices such as mobile phones and tablets with easy payment and dispensing options has increased the adoption of online home decor products as a means of purchase. Easy access to products and increased availability have also fueled the growth of the market with various interior decoration products.

Home Decor Market Restraints:

Home decor products are often available at higher prices, making it difficult for consumers of all income levels to purchase. Furthermore, the higher cost of raw materials associated with products such as wood and leather is also responsible for slowing down market growth.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

6.8% 

Segments Covered

Product type, Income group, Price point

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

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. 

Home Decor Market Segmentation:

The global home decor market has been segmented based on product type, income group, and price point.

Based on product type, the market is divided into furniture, home textiles, and floor coverings.

Based on the distribution channel, the global home décor market is divided into supermarkets and hypermarkets, specialized stores, e-commerce, and others. Among these, the specialty stores were the largest segment, with the highest share in 2020. However, the e-commerce segment is expected to experience the highest growth during the predicted period.

Based on income group, the market is fragmented into lower middle income, upper middle income, and high income.

Based on price point, the worldwide home décor market is mainly bifurcated into mass and premium.

Home Decor Regional Analysis:

North America was the largest regional market in 2021and accounted for 37.7% of global revenue. The market growth is attributed to greater product accessibility, as well as greater penetration of online and offline interior design channels. The region with a big number of market players is witnessing the increased penetration of different decoration products such as furniture, lighting, decorative flooring and the use of textiles. The United States dominates the global outdoor furniture market due to the increasing willingness of consumers to spend on home décor products. The Asia Pacific region is likely to see significant market growth due to the population shift to urban areas. The region is experiencing strong growth in the real estate sector involving the construction of new houses and buildings. Therefore, the new constructions derive from the new and innovative decoration products available on the market. The growth of the interior design industry in developing countries such as Indonesia, China and India has increased the demand for interior design products. In addition, the growing inclination towards green products has increased the tendency of waste application to achieve a modern look. This, in turn, has increased the creativity factor in the manufacture of interior design products.

Competitive Landscape:

Major market players focus on product innovation as a result of new product development, helping them to gain greater market share globally. New products launched on the market are helping to maintain consumer interest due to the growing preference for a supreme and luxurious lifestyle in most regions.

Key Players:

Key manufacturers in the Home Decor Market include 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. 

Impact of COVID-19 on the Home Decor Market:

Home decor manufacturers around the world have halted production due to disruption in the supply of raw materials such as wood and metals (steel and aluminum) with restrictions on logistical mobility during the coronavirus lockdown period. The demand for interior design is expected to increase during the COVID-19, as large numbers of employees work from home and need offices. During the pandemic, the buying behavior of consumers has changed, and they now prefer to buy home decoration products using e-commerce platforms instead of physical stores.

1. Introduction                                

               1.1 Market Definition                    

               1.2 Scope of the report                 

               1.3 Study Assumptions                  

               1.4 Base Currency, Base Year and Forecast Periods  

2. Research Methodology                                          

               2.1 Analysis Design                         

               2.2 Research Phases                      

                              2.2.1 Secondary Research            

                              2.2.2 Primary Research  

                              2.2.3 Data Modelling      

                              2.2.4 Expert Validation   

               2.3 Study Timeline                          

3. Report Overview                                       

               3.1 Executive Summary                 

               3.2 Key Inferencees                       

4. Market Dynamics                                      

               4.1 Impact Analysis                        

                              4.1.1 Drivers      

                              4.1.2 Restaints  

                              4.1.3 Opportunities         

               4.2 Regulatory Environment                       

               4.3 Technology Timeline & Recent Trends  

5. Competitor Benchmarking Analysis                                    

               5.1 Key Player Benchmarking                      

                              5.1.1 Market share analysis         

                              5.1.2 Products/Service   

                              5.1.3 Regional Presence

               5.2 Mergers & Acquistion Landscape                       

               5.3 Joint Ventures & Collaborations                         

6. Market Segmentation                              

               6.1 Home Decor Market, By Product Type                            

                              6.1.1 Furniture  

                              6.1.2 Home Textiles        

                              6.1.3 Floor Coverings     

      6.1.4 Market Size Estimations & Forecasts (2021-2026)     

                              6.1.5 Y-o-Y Growth Rate Analysis              

                              6.1.6 Market Attractiveness Index             

               6.2 Home Decor Market, By Income Group                          

                              6.2.1 Lower Middle Income         

                              6.2.2 Upper Middle Income         

                              6.2.3 High Income           

   6.2.4 Market Size Estimations & Forecasts (2021-2026)     

                              6.2.5 Y-o-Y Growth Rate Analysis              

                              6.2.6 Market Attractiveness Index             

               6.3 Home Decor Market, By Price Point                  

                              6.3.1 Mass         

                              6.3.2 Premium   

        6.3.3 Market Size Estimations & Forecasts (2021-2026)     

                              6.3.4 Y-o-Y Growth Rate Analysis              

                              6.3.5 Market Attractiveness Index             

               6.4 Home Decor Market, By Distribution Channel               

                              6.4.1 Supermarket/Hypermarket

                              6.4.2 Specialty Stores     

                              6.4.3 E-Commerce          

      6.4.4 Market Size Estimations & Forecasts (2021-2026)     

                              6.4.5 Y-o-Y Growth Rate Analysis              

                              6.4.6 Market Attractiveness Index             

7. Geographical Landscape                                        

               7.1 Global Identity Governance and Administration Market, by Region

               7.2 North America - Market Analysis (2021- 2026) 

                              7.2.1 By Country              

                                             7.2.1.1 USA

                                             7.2.1.2 Canada

                              7.2.2 By Product Type    

                              7.2.3 By Income Group  

                              7.2.4 By Price Point         

                              7.2.5 By Distribution Channel      

               7.3 Europe                        

                              7.3.1 By Country              

                                             7.3.1.1 UK

                                             7.3.1.2 France

                                             7.3.1.3 Germany

                                             7.3.1.4 Spain

                                             7.3.1.5 Italy

                                             7.3.1.6 Rest of Europe

                              7.3.2 By Product Type    

                              7.3.3 By Income Group  

                              7.3.4 By Price Point         

                              7.3.5 By Distribution Channel      

               7.4 Asia Pacific                 

                              7.4.1 By Country              

                                             7.4.1.1 China

                                             7.4.1.2 India

                                             7.4.1.3 Japan

                                             7.4.1.4 South Korea

                                             7.4.1.5 South East Asia

                                             7.4.1.6 Australia & NZ

                                             7.4.1.7 Rest of Asia-Pacific

                              7.4.2 By Product Type    

                              7.4.3 By Income Group  

                              7.4.4 By Price Point         

                              7.4.5 By Distribution Channel      

               7.5 Latin America                           

                              7.5.1 By Country              

                                             7.5.1.1 Brazil

                                             7.5.1.2 Argentina

                                             7.5.1.3 Mexico

                                             7.5.1.4 Rest of Latin America

                              7.5.2 By Product Type    

                              7.5.3 By Income Group  

                              7.5.4 By Price Point         

                              7.5.5 By Distribution Channel      

               7.6 Middle East and Africa                           

                              7.6.1 By Country              

                                             7.6.1.1 Middle East

                                             7.6.1.2 Africa

                              7.6.2 By Product Type    

                              7.6.3 By Income Group  

                              7.6.4 By Price Point         

                              7.6.5 By Distribution Channel      

8. Key Player Analysis                                   

               8.1 IKEA Systems B.V                     

                              8.1.1 Business Description            

                              8.1.2 Products/Service   

                              8.1.3 Financials 

                              8.1.4 SWOT Analysis       

                              8.1.5 Recent Developments         

                              8.1.6 Analyst Overview  

               8.2 Kimball International Inc                       

               8.3 Herman Miller, Inc                   

               8.4 home24                      

               8.5 Hanssem Corporation                            

               8.6 Koninklijke Philips N.V                            

               8.7 Conair Corporation                 

               8.8 Suofeiya Home Collection Co., Ltd                    

               8.9 Springs Window Fashions LLC                             

               8.10 Siemens AG                             

9. Market Outlook & Investment Opportunities                                  

Appendix                                          

               List of Tables                    

               List of Figures                   

  • Global, regional ,and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and also identify the regions that are still untapped
  • The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis, and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies, and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Home Décor Market By Region, From 2021-2026 ( USD Billion )
  2. Global Home Décor Market By Product Type, From 2021-2026 ( USD Billion )
  3. Global Furniture Market By Region, From 2021-2026 ( USD Billion )
  4. Global Home Textiles Market By Region, From 2021-2026 ( USD Billion )
  5. Global Floor Coverings Market By Region, From 2021-2026 ( USD Billion )
  6. Global Home Décor Market By Income Group, From 2021-2026 ( USD Billion )
  7. Global Lower Middle Income Market By Region, From 2021-2026 ( USD Billion )
  8. Global Upper Middle Income Market By Region, From 2021-2026 ( USD Billion )
  9. Global High Income Market By Region, From 2021-2026 ( USD Billion )
  10. Global Home Décor Market By Price Point, From 2021-2026 ( USD Billion )
  11. Global Mass Market By Region, From 2021-2026 ( USD Billion )
  12. Global Premium Market By Region, From 2021-2026 ( USD Billion )
  13. Global Home Décor Market By Distribution Channel, From 2021-2026 ( USD Billion )
  14. Global Supermarket/Hypermarket Market By Region, From 2021-2026 ( USD Billion )
  15. Global Specialty Stores Market By Region, From 2021-2026 ( USD Billion )
  16. Global E-Commerce Market By Region, From 2021-2026 ( USD Billion )

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