The home decor market valuation is USD 216,291.4 million in 2023 and is predicted to reach USD 394,715.7 million by 2033. The global market is expected to expand at a CAGR of 6.2% over the forecast period.
The increasing consumer interest in decorating homes and improving home space is fueling the global market growth. The rising disposable income, changing preferences, and DIY home decor trends are driving the market. The demand for home decor products is surging as people are inclined to show their creativity through DIY activities.
Consumers prefer sustainable options to decorate their home interiors because of growing concerns about environmental impacts. On the other hand, buying new homes also drives renovation activities, contributing to the growth of the home decor market.
| Attributes | Details |
|---|---|
| Estimated Home Decor Market Size (2023) | USD 216,219.4 million |
| Projected Home Decor Market Size (2033) | USD 394,715.7 million |
| Value-based CAGR from 2023 to 2033 | 6.2% |
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The Popularity of Handcraft Products
Consumers are focused on handcrafted products for their home decor for a unique and authentic look. They prefer traditional products to praise craftsmanship, which is driving the global market size.
Virtual Reality Shopping
The growth in advanced technologies is stimulating the demand for home decor products. Through these technologies, consumers can get an idea of how the decor item would look and fit in their home spaces. This is attributed to the rise in online shopping experiences.
Subscription Services by Companies
Key companies offer several subscriptions to their consumers for home decor. They offer hassle-free services to maintain home spaces with eco-friendly solutions and without toxicity.
The global market was valued at USD 202,900 million in 2022.
| Historical Market Size (2022) | USD 202,900 million |
|---|
The rising consumer demand for interior designs and personalized and customized decorations is fueling the global home décor market size. The rising smart home integration technologies have recently increased the demand for decor products.
Adopting wellness-oriented and health-conscious home spaces is growing the demand for home decor. Maintaining a refreshing and healthy environment by adopting non-toxic material products is attracting consumers' desire.
The rising popularity of interior designs such as furniture modification, television setups, and bookshelf designs actively inspires consumers' interest. Consumers prefer shopping for these decor items from an e-commerce platform, rapidly propelling the home decor market. Manufacturers have chosen to enhance the design of home decor in the last few decades, drastically changing the industry and its growth.
Principal Consultant
The section delves into the intricacies of the home decor market across the major countries. These findings illuminate the diverse opportunities and trends in the global home decor market.
Gaining a comprehensive understanding of these markets and their distinctive influence is of paramount significance for market players and stakeholders, especially as the market experiences transformative expansion on a country-wide scale.
| Country | United States |
|---|---|
| Market Share (2023 | 26.4% |
| Country | Canada |
|---|---|
| Market Share (2023 | 4.3% |
| Country | Germany |
|---|---|
| Market Share (2023 | 4.6% |
| Country | United Kingdom |
|---|---|
| Market Share (2023 | 2.5% |
| Country | France |
|---|---|
| Market Share (2023 | 2.3% |
| Country | Italy |
|---|---|
| Market Share (2023 | 2.8% |
| Country | Spain |
|---|---|
| Market Share (2023 | 2.8% |
| Country | China |
|---|---|
| Market Share (2023 | 4.0% |
| Country | India |
|---|---|
| Market Share (2023 | 2.8% |
| Country | Japan |
|---|---|
| Market Share (2023 | 6.4% |
| Country | Australia |
|---|---|
| Market Share (2023 | 1.6% |
| Country | Singapore |
|---|---|
| Market Share (2023 | 1.4% |
The United States dominates the global market by registering a share of 26.4% in 2023. The growing trend of smart homes for new houses is increasing the demand for home decor items. The rising popularity of outdoor living spaces and home improvement projects is stimulating the adoption of home decor in the country.
Consumers looking for affordable, eco-friendly home decor with advanced materials drive the United States home decor market. The United States market is rapidly growing by adopting seasonal sets for Christmas and other festivals.
The increase in the aging population is fueling demand for non-slip floor design, smart furniture, and grab bars in the United States market. Several decor companies provide direct-to-customer options with a low material cost approach and competitive advantage.
Germany is significantly driving the home decor landscape by capturing a share of 4.6% of the global market in 2023. The increasing demand for craftsmanship and the popularity of Do-It-Yourself activities are helping to renovate homes. The rising demand for home decor furniture with sustainability is propelling Germany's home decor market.
Consumers are opting for high-quality, cost-effective, and designer home decor products that enhance durability. They are investing in the longevity of home decor items, which is fueling the market. The rising number of exhibitions and trade shows is fueling the adoption of home decor products to attract audiences.
The growing innovation in advanced technologies such as Artificial Intelligence offers an aesthetic look, functional design, and clean lines to attract consumers. Germany has a strong economy, and consumers spend huge amounts on enhancing and improving their home decor. The increasing adoption of excellent design among key companies in Germany is accelerating the demand for home decor.
The United Kingdom is a hub of ancient home decor. The United Kingdom holds a 2.5% share of the global market in 2023. The United Kingdom is rich in interior design culture with innovative, well-designed, stylish, and aesthetic home decor products. The increasing consumer demand for better home spaces is driving sales of home decor products.
The manufacturers are designing homes with functionality to provide durable and smart home decor. The United Kingdom-inspired heritage and traditional decor items and styles are popularly enhancing the market’s growth. British designers are producing their brands for home decor with a combination of new technology and ancient scenery. They offer a vintage look to their homes to seek unique and eye-catching looks, leading to the expansion of the United Kingdom home decor market.
The growing fashion trend attracts consumers to invest in luxury and high-end home decor items for a premium look. These factors are estimated to continue to expand the United Kingdom market over the coming years.
Japan holds a 6.4% share of the global market in 2023. The rising focus on decorating multifunctional furniture with enhanced compact living spaces drives Japan's home decor market. House-owners seek to maximize space efficiency and better designs by adopting smart home technology.
Consumers choose advanced and natural home decor materials to improve eco-friendly surroundings. They adopt sustainable materials such as paper, wood, and other options to design beautiful home interiors.
Japan is a unique culture country that celebrates tea culture. During this festival, they increase the adoption of decor items to develop tatami mats and tea sets. They renovate gardens and outdoor decorations with traditional materials and outdoor furniture that look simple and eye-catching.
Japanese culture influences the home decor market with its nature-inspired decoration. These factors are significantly advancing Japan's home decor market in the global landscape.
China accounts for a share of 4% of the global home decor market in 2023. Ongoing urbanization in China is generating the demand for home decor products. The consumer's desire for modern home decor styles is surging in China. These consumers prefer decor designs for lighting, walls, furniture, and floor to look attractive and luxurious.
Increasing demand among middle-class groups for home decor products is advancing China's home decor market. Manufacturers are innovating ideas to design advanced home decor that looks lavish.
Consumers are looking for customized furniture, lighting, and other decor items in home spaces. The growing number of domestic companies in China are bringing excellent and advanced home decor solutions. Consumers are paying huge attention to the color of home decor items to bring positivity and luck.
The section below delves into the intricate dynamics of the home decor market, focusing on the key segments within the industry. These insightful findings illuminate the global opportunities for home decor market and trends that hold significant relevance for the future of the home decor market. Acquiring a comprehensive understanding of these pivotal categories and their far-reaching implications is of paramount importance forsh market players and stakeholders, particularly during the market's transformative growth phase.
| Top Product Type | Home Furniture |
|---|---|
| Share | 22.5% |
Based on product type, home furniture is the key segment that captures the maximum share of 22.5% of the market by product type. Home furniture such as couches, sofas, beds, cabinets, and tables are essential for living spaces. Home furniture is necessary for storage, setting, and decorating arts, attracting consumer demand.
Consumers are spending more on furniture purchases to enhance their home’s decor and look. Consumers select furniture according to the theme, design, color, and style that matches their home décor furniture. As per their room design and layout, they seek customized furniture.
The increasing trend of stylish, space-optimized, and advanced technology furniture with unique looks is driving the market for home decor products.
| Top Distribution Channel | Direct-to-consumer |
|---|---|
| Share | 15.2% |
Based on the distribution channel, direct to consumer is leading the global market by capturing a share of 15.2% in 2023. The direct to consumer offers a cost-effective solution to maintain profit and exclude cost structure.
Consumers are more convenient in selecting and purchasing decor products through e-Commerce platforms or from the manufacturers. Direct to consumer provides a wider product selection as compared to retailers. They offer easy home delivery without any hassle and with distinctive home decor.
The direct to consumer channel offers transparency about the product. It builds trust in product material and quality. It also uplifts the brand image for effective marketing, customer support, and product development.
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The home decor market is highly consolidated by key vendors investing heavily in research and development activities to build innovative products. These advanced products capture huge attention from end users, which enhances the global market size.
The key players are adopting various marketing tactics to upsurge the market to new heights. These marketing tactics include mergers, acquisitions, collaborations, and product launches. Key players bring innovative and advanced home decor technology to boost the global market growth.
Recent Developments in the Home Decor Market
The home decor market valuation is USD 216,291.4 million in 2023.
The United States holds the major share of the market for home decor.
The home decor market is expected to grow at a CAGR of 6.2% through 2023.
The growing focus on sustainable home decor products is a major trend in the market.
The Home Depot, Wayfair, and Herman Miller are the key players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2023 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Product Type 5.1. Home Furniture 5.2. Rugs 5.3. Bath Textiles 5.4. Bed Textiles 5.5. Kitchen and Dining Textiles Tiles 5.6. Wood & Laminate Flooring 5.7. Vinyl & Rubber Flooring 5.8. Lighting 5.9. Other Products 6. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Distribution Channel 6.1. Retail Stores 6.2. Direct to Consumer 6.3. Manufacturer Stores 6.4. E-commerce Stores 6.5. Discount stores 6.6. Rental Stores 6.7. Club Stores 6.8. DIY Stores 7. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Application 7.1. Indoor 7.2. Outdoor 7.3. Other Applications 8. Global Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2023 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Inter Ikea Systems B.V. 18.2. Koninklijke Philips N.V. 18.3. Suofeiya Home Collection Co., Ltd. 18.4. Springs Window Fashions LLC 18.5. Zepter International Inc. 18.6. Siemens AG 18.7. Hanssem Co., Ltd. 18.8. Samson Holding Ltd. 18.9. The Oneida Group, Inc. 18.10. Forbo International SA 19. Assumptions & Acronyms Used 20. Research Methodology
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Home Decor Market
