The global wall art market size is expected to top a valuation of USD 94.8 billion by 2033. It is set to witness a CAGR of 5.4% in the review period 2023 to 2033.
The global wall art market is likely to reach a valuation of about USD 56.2 billion by the end of 2023. It is anticipated to create a total financial potential worth USD 38.6 billion in the forecast period.
| Attributes | Key Insights |
|---|---|
| Wall Art Market Estimated Size (2023E) | USD 56.2 billion |
| Wall Art Market Projected Valuation (2033F) | USD 94.8 billion |
| Value-based Wall Art Market CAGR (2023 to 2033) | 5.4% |
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Minimalist Movement in North America to Spur Demand through 2033
In North America, the preference for minimalism is anticipated to surge rapidly, thereby propelling wall art demand through 2033. As minimalist design principles focus on crucial elements, clean lines, and simplicity, this helps enhance a place’s aesthetics. New-age consumers are expected to demand minimalist interiors as these help to add a visual interest and a touch of personality without disturbing the aesthetic.
There has been a rapid inclination toward supporting and appreciating emerging artists in countries such as the United States and Canada. This has led to the growth of the minimalist movement in these countries.
Several up-and-coming talents are set to offer minimalist wall art pieces that would provide unique concepts. An ongoing synergy between emerging artists and minimalist designs is anticipated to drive the wall art market in North America.
Increasing Home Ownership in Europe to Bolster Sales
Rising residential and personal spaces across Europe are expected to bolster the wall art market by 2033. Several people are anticipated to invest in their personal spaces through home renovations and purchases.
Increasing home ownership is set to drive the need for decorating and customizing living spaces to showcase one’s style. This is likely to push wall art sales as it is considered an ideal solution for initiating personalization, enabling homeowners to design their living spaces as per their taste.
According to Eurostat, around 70% of people lived in homeownership-based households, and the other 30% leased homes in the European Union in 2021. Countries with the most prominent percentages of homeowners were Croatia (91%), Romania (95%), Hungary (92%), and Slovakia (92%).
DIY Enthusiasts in Asia Pacific to Augment Growth by 2033
Asia Pacific is projected to showcase a high adoption rate for wall art in the review period amid the rising influence of Pinterest and Instagram. Both these social media platforms are highly visual and exhibit a wide range of wall art do-it-yourself (DIY) projects, designs, and ideas.
Both these platforms have led DIY enthusiasts to quickly find a wide array of wall art concepts, from intricate to simple ones. This visual inspiration is expected to motivate them by sparking their creativity to work on new DIY projects.
Several interior designers, emerging artists, and influencers might use Pinterest or Instagram to partner with DIY enthusiasts. They are expected to deliver unique design ideas, join hands on exclusive projects, and offer guidance. Such collaborations will likely create new opportunities for DIY enthusiasts to experiment with wall art.
The global wall art market is anticipated to exhibit a CAGR of 5.4% in the assessment period. It grew at a decent CAGR of 6.7% in the historical period between 2018 and 2022. The market for wall art stood at a valuation of USD 53.1 billion in 2022.
| Historical Wall Art Market CAGR (2018 to 2022) | 6.7% |
|---|---|
| Historical Market Value (2022) | USD 53.1 billion |
Short-term Growth Potential of Wall Art Market from 2018 to 2022
The period from 2018 to 2022 witnessed high wall art sales, especially in developed countries worldwide. With remote work practices and lockdowns amid the COVID-19 pandemic that started back in December 2019, individuals' interest in home decor increased.
They wanted their living spaces to be more personalized, visually appealing, and comfortable. As wall art can improve and change interior aesthetics, these became the most preferred choice.
The pandemic has also expanded awareness among millennials regarding the significance of mental health and well-being. They started considering art as a medium to promote a sense of tranquility, creativity, and relaxation. Hence, they shifted toward wall art to create an inspiring and calming environment in their homes.
Mid-term Insights about Wall Art Market Growth from 2023 to 2028
Integration of digital art is anticipated to be a game-changer in the wall art market from 2023 to 2028. With ongoing technological advancements, digital art is expected to enable high-resolution and detailed reproductions of world-famous artworks. This technology is anticipated to ensure that the final art holds the nuances and intricacies of the original piece.
Modern artists will likely use digital art on diverse surfaces like acrylic, wood, metal, and canvas to create innovative wall art. It is not limited to paper prints anymore. This might help them to provide customers with a diverse range of options to display their artwork.
Digital printing, unlike conventional printing techniques, has a relatively short lead time. It is anticipated to be vital for catering to the needs of clients who require quick delivery times. This is set to be very helpful in today’s online shopping era.
Long-term Wall Art Market Forecast from 2028 to 2033
Wall art manufacturers are expected to adopt green materials and sustainability practices to meet the unmet needs of environmentally conscious consumers between 2028 and 2033. They are projected to use sustainably sourced or recycled materials to reduce environmental impact. They are expected to use recycled wood or paper from responsibly managed forests.
A handful of companies might discard environmentally harmful inks and use solvent-free and water-based inks. They will also likely use energy-saving printing methods to reduce their carbon footprint.
In June 2021, for instance, a new generation of environmentally friendly water-based inks for paper and board applications was launched by Siegwerk. The novel product line is made of natural and renewable ingredients. It offers an environmentally responsible substitute for conventional inks without affecting paper's recycling capacity.
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The table below provides the latest trends observed in the global wall art market, growth obstacles, and upcoming opportunities. Choosing the correct business strategies for wall art industry enables stakeholders to invest in the right area and gain profit.
| Attributes | Key Factors |
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| Latest Trends |
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| Upcoming Opportunities |
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The below table explains the worldwide demand for wall art market of the top 5 countries. Regional forecast for wall art market by country states that the United States is anticipated to remain at the forefront by topping a size of USD 16.3 billion by 2033.
China might reach USD 13.3 billion in 2033. Japan is expected to follow the United States and China to create a moderate wall art demand worth USD 8.9 billion.
| Countries | Market Value (2033) |
|---|---|
| United States | USD 16.3 billion |
| United Kingdom | USD 3.4 billion |
| China | USD 13.3 billion |
| Japan | USD 8.9 billion |
| South Korea | USD 4.2 billion |
In the below table of the growth potential of wall art market, CAGRs of the top 5 countries are provided. Out of the 5, the United Kingdom and South Korea are likely to remain in the leading positions by exhibiting CAGRs of 6.3% and 6.0%, respectively from 2023 to 2033. Followed by these, Japan and the United States are expected to witness wall art sales at CAGRs of 5.6% and 5.5%, respectively.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 5.5% |
| United Kingdom | 6.3% |
| China | 5.4% |
| Japan | 5.6% |
| South Korea | 6.0% |
The United States wall art market size is anticipated to witness a CAGR of 5.5% in the review period. It is projected to create a measurable financial benefit worth USD 6.8 billion in the same time frame.
The market in this country is expected to be pushed by the influx of artisans in the United States. Modern consumers are set to value the personal touch that they can achieve by buying wall art directly from artisans. They might request customizations, know more about the artistic process, and interact with the creator to develop a deep connection to their art.
Buyers might also be attracted toward a specific wall art as artisans often incorporate their pieces with symbolism, cultural heritage, and personal stories. This storytelling method is expected to make the artwork more emotionally resonant and engaging for consumers.
The United Kingdom is estimated to shape a distinct income-generating possibility of USD 1.6 billion by 2033. It is projected to showcase a CAGR of 6.3% from 2023 to 2033 in the wall art market.
Increasing focus on eco-friendly products is set to push demand for wall art in the United Kingdom. Millennial consumers might look for unique wall art made by using green materials such as natural fibers, organic cotton, and bamboo. This is expected to accelerate the market in the United Kingdom through 2033.
EcoArt, for instance, is a United Kingdom-based company that provides 100% recycled plastic prints on canvas with FSC-certified sustainably grown wood framing. The company buys the rights to original artists' works and prints the images on fabric from recovered plastics.
China is expected to generate a considerable wall art market share in 2033. It is likely to record a CAGR of 5.4% from 2023 to 2033. By the end of 2033, it is anticipated to top USD 13.3 billion.
Wall art, such as wall hangings, is set to gain impetus in China through 2033. These are extensively used to exhibit traditional art forms such as tapestries, calligraphy, and silk embroidery. Appreciation for art and cultural heritage is anticipated to propel sales to celebrate and preserve traditions.
In interior design across China, Feng Shui plays a significant role. Increasing usage of wall hangings to develop balanced and harmonious living spaces is anticipated to aid demand. These are considered an influencer of the flow of energy. Increasing demand for wall hangings representing Feng Shui principles to improve energy might aid growth.
Japan is expected to showcase steady growth in sales of wall décor products. It is estimated to exhibit a CAGR of 5.6% from 2023 to 2033. A valuation of USD 8.9 billion is expected to be registered by the country in 2033.
The demand for wall art is anticipated to surge considerably in Japan, with increasing use in commercial places such as retail stores, restaurants, hotels, and offices. Commercial spaces might recognize the significance of creating a novel brand identity. Hence, They are expected to adopt wall art as a branding tool to promote their personality and values.
In the retail sector across Japan, wall art is expected to be utilized to improve the consumer experience. It is set to be used to guide shoppers through the outlet, develop focal points, and direct customer flow. Creative wall art is projected to surge the time a customer spends in an outlet, thereby increasing sales.
South Korea is set to develop a profit potential worth USD 1.8 billion by 2033. It exhibited a CAGR of 8.1% from 2018 to 2022 in the wall art market.
South Korea is expected to be home to several contemporary and traditional exhibitions, museums, & art galleries. These places are anticipated to foster the increasing demand for wall-covering products by inspiring a culture of appreciation and promoting artworks.
Increasing popularity of films and K-dramas is further anticipated to accelerate the adoption of wall art in South Korea. These might create a fascination with aesthetics and interior design among millennials. Viewers of K-dramas are likely to strive to replicate the visually appealing and unique sets from their favorite shows, thereby augmenting demand.
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The table below highlights global demand for wall arts by type. Under type, the wallpapers/stickers/wall coverings segment, while smaller, is set to showcase a significant CAGR of 5.2% through 2033. It is expected to be followed by the hangings, frameworks, décor shelves, and other segments.
| Category | Type |
|---|---|
| Sub-category | Wallpapers/Stickers/Wall Coverings |
| Value-based CAGR (2023 to 2033) | 5.2% |
In terms of type, the wallpapers/stickers/wall coverings segment is anticipated to witness a CAGR of 5.2% in the forecast period. It expanded at an average CAGR of 6.5% in the historical period.
Wallpapers, stickers, and wall coverings are anticipated to provide various designs, from personalized and abstract to modern and classic patterns. Their high versatility is expected to raise their adoption among offices and homeowners to achieve a specific aesthetic and express their styles in their spaces.
Rising restaurants, malls, and hotels across the globe are another crucial factor that might accelerate the demand for wallpapers/stickers/wall coverings. These might help set companies apart, develop innovative ambiance, and improve branding.
CAGRs between the two timelines showcase a drop of about 1.3%. This is attributed to increasing demand for minimalist designs, complex installation processes, and changing preferences in terms of designs. Millennials are expected to opt for neutral colors, uncluttered spaces, and clean designs, which might decline sales of decorative wallpapers.
The table below highlights global demand for wall arts by application. Under application, the residential segment, while smaller, is set to showcase a significant CAGR of 5.0% through 2033. It is expected to be followed by the commercial segment.
| Category | Application |
|---|---|
| Sub-category | Residential |
| Value-based CAGR (2023 to 2033) | 5.0% |
Based on application, the residential segment is anticipated to showcase a CAGR of 5.0% in the assessment period in the wall art market. It recorded a CAGR of 6.4% in the historical period.
Increasing focus on well-being among millennials is set to raise investments in developing living spaces that support emotional and mental wellness. Nature-inspired wall art, inspirational quotes, or minimalist abstract designs are set to gain impetus in the residential sector to promote well-being.
Growing work-from-home trend worldwide is also expected to push the demand for unique wall art. Individuals are set to invest huge sums in renovating their home offices per their requirements. Rise of video conferencing is likely to surge the demand for visually appealing and professional backgrounds, thereby propelling wall art sales.
Rising shopping festivals, exhibitions, and trade fairs globally are further projected to bolster the appreciation for handmade and artisanal pieces for interiors. Handmade wall art, such as hand-painted canvases, ceramic sculptures, or woven tapestries, might provide a sense of uniqueness. These help homeowners to decorate their spaces innovatively.
Leading wall art providers are adopting several organic and inorganic strategies to compete with their rivals in today’s evolving market. Several companies are obtaining licensing agreements for popular artworks or joining hands with artists to provide unique designs. This might enable them to deliver an appealing line of art styles and tap into fan bases.
Renowned companies are focusing on expanding their geographic presence internationally beyond their domestic markets. They do so to understand diverse cultural preferences better and gain new growth opportunities.
Rapid expansion of online marketplaces and e-commerce platforms is anticipated to transform how wall art is sold and purchased. Several providers persistently strive to establish their online presence through famous online marketplaces or their websites. This strategy is set to help them deliver their products to the client’s doorstep and increase sales.
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| Attribute | Details |
|---|---|
| Estimated Wall Art Market Size (2023) | USD 56.2 billion |
| Projected Wall Art Market Valuation (2033) | USD 94.8 billion |
| Value-based Wall Art Market CAGR (2023 to 2033) | 5.4% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD billion) |
| Segments Covered in Wall Art Market Study | Type, Sales Channel, Application, Region |
| Regions Covered in Wall Art Market Report | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered in Worldwide Wall Art Market | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Wall Art Market Top Players | VGL Group; Art.com Inc.; Uprise Art LLC; Saatchi Art Limited; Society6 LLC |
The global wall art market is set to be worth USD 94.8 billion by 2033.
The wall art market is expected to top USD 56.2 billion in 2023.
By type, wallpapers/stickers/wall coverings are likely to be highly popular.
VGL Group, Art.com Inc., and Uprise Art LLC are the key wall art market players.
Wall art sales are anticipated to remain high from 2023 to 2033 with a CAGR of 5.4%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Wallpapers/Stickers/Wall Coverings 5.2. Hangings 5.3. Frameworks 5.4. Décor Shelves 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 6.1. Offline 6.1.1. Hypermarkets and Supermarkets 6.1.2. Specialty Stores 6.1.3. Others 6.2. Online 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Residential 7.2. Commercial 8. Global Market Analysis 2018 to 2022 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 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. VGL Group 18.2. Art.com Inc. 18.3. Uprise Art LLC 18.4. Saatchi Art Limited 18.5. Society6 LLC 18.6. Minted LLC 18.7. Artsy Inc 18.8. 1stdibs.com Inc. 18.9. Artnet Worldwide Corporation 18.10. Artspace LLC 19. Assumptions & Acronyms Used 20. Research Methodology
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