Global Online Home Decor Market to Reach US$348.3 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Online Home Decor estimated at US$98.4 Billion in the year 2020, is projected to reach a revised size of US$348.3 Billion by 2027, growing at a CAGR of 19.8% over the analysis period 2020-2027.Online Home Furniture, one of the segments analyzed in the report, is projected to grow at a 19.2% CAGR to reach US$156.4 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online Home Furnishing segment is readjusted to a revised 20.7% CAGR for the next 7-year period. This segment currently accounts for a 44.2% share of the global Online Home Decor market.
The U.S. Accounts for Over 29.6% of Global Market Size in 2020, While China is Forecast to Grow at a 19.1% CAGR for the Period of 2020-2027
The Online Home Decor market in the U.S. is estimated at US$29.2 Billion in the year 2020. The country currently accounts for a 29.65% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$60 Billion in the year 2027 trailing a CAGR of 19.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.6% and 17.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 14.6% CAGR while Rest of European market (as defined in the study) will reach US$60 Billion by the year 2027.
Other Segments Segment Corners a 9.4% Share in 2020
In the global Other Segments segment, USA, Canada, Japan, China and Europe will drive the 17.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.4 Billion in the year 2020 will reach a projected size of US$23.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$42.6 Billion by the year 2027.We bring years of research experience to this 8th edition of our report. The 130-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
- Competitors identified in this market include, among others,
- Amazon.com, Inc.
- Ashley Furniture Industries, Inc.
- Bed Bath & Beyond, Inc.
- Cabela’s Inc.
- Carrefour Group
- Costco Wholesale Corporation
- Herman Miller Furniture (India) Pvt. Ltd.
- Home24 SE
- Inter IKEA Systems BV
- jcp Media Inc.
- Otto (GmbH & Co KG)
- Sears Brands LLC
- Target Brands, Inc.
- Tesco PLC
- Wal-Mart Stores, Inc.
- Wayfair LLC