The global home decor market is expected to increase at a strong CAGR throughout the evaluation period and reach a value of roughly US$ 20.2 Bn in 2022. The home décor industry is expanding internationally as more people, particularly in poorer nations, own houses. Furniture, fabrics, and floor coverings are utilised in home décor to improve the living area.
One factor affecting the interior design industry is the real estate sector's rapid expansion. Additionally, factors like globalisation are encouraging the growth of this market by making it easier for consumers to buy a variety of home décor items and cutting-edge designs.
The expansion of online retail has made it simpler and more affordable to find furniture and other items for home décor. Consequently, a lot of people are using these online retailers to furnish their homes.
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The improvement in people's lifestyles and the rise in disposable incomes are further factors encouraging the growth of this sector. The market expansion for home accessories products is being constrained by a number of issues, such as the growing cost of raw materials like wood and leather.
Forecast Highlights on Global Home Decor Market
According to Future Market Insights’ prediction, the rug market would reach a value of roughly US$ 155,460 Mn in 2022. From 2017 to 2022, the CAGR for this period of assessment was a strong one. By the end of 2017, the rug segment is projected to represent over one-fifth of the product type segment’s revenue share, and by the end of 2022, it is anticipated to increase market share.
As per the forecast of Future Market Insights, the direct to consumer segment will reach a value of nearly US$ 127,733 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The direct to consumer segment is estimated to account for more than one-fifth of the revenue share of the distribution channel segment in the year 2017 end and is expected to lose market share by the end of the year 2022.
As per the forecast of Future Market Insights, the indoor segment is slated to reach a value of nearly US$ 560,205 Mn in 2022. The indoor segment is expected to lose some market value by the end of the year 2022. The largest share is contributed by the APEJ region in the indoor segment.
Future Market Insights forecasts the China home décor market to grow from US$ 79,955 Mn in 2017 to US$ 109,434 Mn in 2022. This represents a compound annual growth rate (CAGR) of 6.5% from 2017 to 2022.
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The report has also profiled leading players in the global market for home decor, which will remain active through 2022. These include companies such as Samson Holding Ltd., Koninklijke Philips N.V., Springs Window Fashions LLC, The Oneida Group, Inc., Siemens AG, Suofeiya Home Collection Co., Ltd., Conair Corporation, Inter Ikea Systems B.V, Hanssem Co., Ltd. and Zepter International Inc.