In 2023, the size of the worldwide home décor industry was estimated at USD 697.91 billion. The market is anticipated to grow at a compound annual growth rate (CAGR) of 4.91% from USD 747.75 billion in 2024 to USD 1,097.51 billion by 2032.
The aesthetics of the living areas are enhanced with decorative accessories like artwork, throw pillows, and scented candles. The growing popularity of home gardening and outdoor living space decoration is expected to support market growth.
Interior designers were able to provide customized interior items online and conduct virtual meetings and consultations as a result of the COVID-19 epidemic. This change had a favorable effect on market development, as did the rise in the usage of design tools and programs for virtual living room interiors.
This data is presented in the “Home Decor Market, 2024-2032” research study by Fortune Business InsightsTM.
Key Players Listed in the Home Decor Market Report:
- American Textile Company (U.S.)
- Ralph Lauren Corporation (U.S.)
- Welspun Flooring (India)
- Kimball International, Inc. (U.S.)
- Herman Miller, Inc. (U.S.)
- Steelcase, Inc. (U.S.)
- Ashley Furniture Industries, LLC. (U.S.)
- Idea Nuova (U.S.)
- Ethan Allen Global, Inc. (U.S.)
- 1888 Mills, LLC. (U.S.)
- Inter IKEA Systems B.V. (Netherlands)
- Williams-Sonoma Inc. (U.S.)
Market Segmentation: Home Decor
Technological Developments in Floor Covering Product Design to Encourage Market Growth
The market is categorized by product, including home textiles, furniture & furnishings, and floor coverings. The largest market share for home décor is held by the floor covering sector. Household flooring installation is impacted by technological advancements in floor covering product design and material composition.
Offering Discount Coupons Encourages the Growth of the Hypermarket/Supermarket Segment
Specialty shops, internet channels, hypermarkets and supermarkets, and others make up the market’s distribution channels. The hypermarkets and supermarkets segment dominates the market since these retailers regularly offer discounts for décor products at a discount, which increases demand for the products.
South America, the Middle East and Africa, North America, Europe, and Asia Pacific comprise the regional segments of the home décor market.
Report Coverage:
The report contains:
- Comprehensive insights into regional developments.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
- List of major industry players.
- Key strategies adopted by the market players.
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Market Driver
Constant Smart Home Product Offerings to accelerate Market Development
Several countries throughout the world are seeing faster rates of product consumption growth due to the steady spread of smart home appliances, speakers, and smart decorative lighting. Additionally, the growing trend of buying connected technology-based décor items with personalized health management, next-generation entertainment, and home security is driving the growth of the home décor market.
However, the high price of high-end goods can prevent the market from expanding
Regional Analysis
The Asia Pacific Because of the Growing Number of Residential Facilities
Due to the growing number of residential and commercial infrastructure facilities, which increase demand for contemporary kitchen and living room furnishings in China and Southeast Asia, Asia Pacific now holds the greatest market share for home décor.
Growing consumer demand for sustainable products and manufacturers’ attempts to produce eco-friendly home décor items are driving the market expansion in Europe.
Competitive Landscape
Leading Businesses Concentrate on Acquisition and Merger Plans to Develop Their Product Line
To stay ahead of the competition, market participants are utilizing a variety of strategic efforts, including joint ventures, capacity expansions, and product developments. Well-known businesses open new locations to expand their global retail presence. In order to expand their product line, major players in the home décor industry are increasingly focusing on mergers and acquisitions.
