The Global Home Decor Market size is expected to reach $792.6 billion by 2025, rising at a market growth of 4.9% CAGR during the forecast period.
Home decor includes decoration of a livable interior where layout and furnishings of space are enhanced using ornamentation and beautification. Items like household furniture, furnishings for the home and other decorative items like lamps, clay pots, artifacts, and candles, etc., are used for home decor. In developed countries such as the U.S. and U.K, eco-friendly home decor products have generated a high demand owing to the increased environmental awareness. Multifunctional furniture is popular among consumers in developing countries. Online buying of home decor products is gaining popularity, worldwide. Consumers are now more inclined towards buying stylish and luxurious home decor products.
With the boom in the real estate sector and increasing disposable incomes, demand for the home decor and furniture industry will see a rise in the coming years. However, at the same time, customers will look for customized offerings to suit their lifestyle. Customers now believe that their homes and workspaces are a reflection of their personalities and are well aware of home fashion trends globally. The near future will see more customers look at brands to help them create spaces that reflect their identities and will gravitate towards the ones that offer personalized services.
Based on Product, the market is segmented into Furniture, Home Textile, and Floor Covering Market. Furniture has witnessed an increased adoption among consumers, owing to the increased disposable income and influence of western culture, especially the growing adoption of modular kitchen and lighting. Based on Category, the Furniture market is segmented into Kitchen, Living and Bedroom, Bathroom, Outdoor and Lighting; the Home Textile market is segmented into Rug, Bath Textiles, Bed Textiles, Kitchen & Dining Textiles and Living Room Textiles; the Floor Covering market is segmented into Tiles, Woods & Laminate, Vinyl & Rubber, Carpet & Rugs and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Forbo Holding AG, Armstrong World Industries Inc., Mannington Mills, Inc., Mohawk Industries Inc., Berkshire Hathaway Inc., Herman Miller Inc., Ashley Furniture Industries Ltd. and Kimball International Inc. The market players are focusing on developing eco-friendly products since the popularity of these products is growing among consumers, owing to rising environmental awareness. Among the three key product segments; home textiles, floor coverings, and furniture, floor covering segment occupied the largest share in the overall home decor market. The segment is expected to maintain its leading position throughout the forecast period, owing to the wide adoption of floor coverings in different geographical markets.
Scope of the Study
o Living and bedroom
• Home Textile
o Bath Textiles
o Bed Textiles
o Kitchen & Dining Textiles
o Living Room Textiles
• Floor Covering
o Wood & Laminate
o Vinyl & Rubber
o Carpets & Rugs
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Forbo Holding AG
• Armstrong World Industries Inc.
• Mannington Mills, Inc.
• Mohawk Industries Inc.
• Berkshire Hathaway Inc.
• Herman Miller Inc.
• Ashley Furniture Industries Ltd.
• Kimball International Inc.
• Home Depot Inc.
• LOWE’S COMPANIES Inc.
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