Global Home Decor Market Size, Share, Growth Analysis, By Product(Furniture, Textile), By Application(Indoor, and Outdoor)

Description

Global Home Decor Market size was valued at USD 856.26 billion in 2022 and is poised to grow from USD 912.77 billion in 2023 to USD 1522.02 billion by 2031, growing at a CAGR of 6.60% during the forecast period (2024-2031).

The increasing demand for upholstery products, decor, and fixtures is expected to drive market growth, fueled by consumer preferences for extravagant home decor items, especially timber flooring and furniture, as well as a growing trend towards environmentally friendly options. This surge is propelled by shifting consumer preferences towards urban lifestyles due to rapid urbanization, necessitating premium-quality furnishings to suit new living environments, with 55.0% of the global population now residing in urban areas. This trend is anticipated to continue, supported by growth in the real estate sector. Moreover, the rise of e-commerce and smart devices has facilitated online purchasing of home decor, expanding market reach, albeit with challenges such as higher prices and fluctuating raw material costs.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Home Decor Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Home Decor Market Segmental Analysis

The global home decor market is segmented based on product, application, and region. Based on product, the market is segmented into furniture, textile, flooring, and others. In terms of categorization by application, the market is grouped into indoor, and outdoor. Regionally, the global home decor market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Home Decor Market

The upward trajectory of disposable income has fueled a surge in consumer expenditure on home decor goods, with individuals now inclined to allocate more funds towards premium decor options as their financial resources expand.

Restraints in the Global Home Decor Market

In the fiercely competitive home decor market, numerous companies vie for market dominance, posing a significant challenge for smaller enterprises to compete against their larger, more entrenched counterparts.

Market Trends of the Global Home Decor Market

The home decor market is witnessing a significant shift towards sustainability as consumers show a growing preference for eco-friendly options. Companies are adapting by incorporating recycled or sustainably sourced materials into their product lines, aligning with the rising demand for environmentally conscious choices among customers.

Product Code: SQMIG25F2045

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Home Decor Market by Product

Market Overview
Furniture
Textile
Flooring
and Others

Global Home Decor Market by Application

Market Overview
Indoor
and Outdoor

Global Home Decor Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Ikea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bed Bath & Beyond
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wayfair
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Williams-Sonoma, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Home Depot
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lowe's
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Target
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Amazon
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Pier 1 Imports
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Pottery Barn
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
West Elm
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Crate & Barrel
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ashley Furniture Industries
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ethan Allen Interiors
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mohawk Industries
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sherwin-Williams
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Benjamin Moore & Co.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
J.C. Penney
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Kirkland's
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
HomeGoods.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Home Decor Market Size, Share, Growth Analysis, By Product(Furniture, Textile), By Application(Indoor, and Outdoor) - Industry Forecast 2024-2031