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.
The rise of the real estate sector is one reason for the home décor market’s quick growth. Additionally, the ease with which individuals may access new types of designs and a diversity of things for house décor as a result of factors like globalisation is promoting the expansion of this sector.
Furniture and other home décor goods are now more readily available and more reasonably priced thanks to the growth of internet retail. As a result, a lot of individuals are using these online retail stores to furnish their houses.
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The increase in disposable incomes and the improvement in people’s lifestyles are further elements promoting the expansion of this sector. However, some factors, such as the rising cost of raw materials like wood and leather, are restraining the market expansion of home décor items.
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.