Home Decor Market:Global Industry Trends
The global home decor market was worth US$ X Billion in 2017. Home decor is an effective way of portraying the lifestyle that a consumer believes in. Home decor products are used in the decoration of an apartment or a house with various accessories and furnishings to provide a more aesthetic and pleasant appeal to the building. Items in home decor include household furniture, lamps, textiles, floor coverings, pots, candles, artifacts, furnishing items, etc. Home decor has been gaining prominence across both developed and developing markets with increasing urbanization and globalization trends. Globalization is now enabling easy and wide availability of such decorative items, designs and ideas to consumers. Home owners are also realizing the need of such items and are often searching for them to keep their homes more attractive and organized.
Home decor is witnessing a strong growth catalyzed by rising levels of disposable incomes, recovery of the real estate industry, increasing urbanization rates and rising awareness levels. Rising levels of urbanization have resulted in an increasing number of new households being setup. Currently more than half of the global population live in urban areas and these levels are expected to increase further in the coming years, creating a positive impact on the demand of home decor products.
Moreover, home decor products are income elastic, we expect global disposable incomes to increase continuously over the next few years, particularly in emerging economies such as Asia, Africa, Middle East, Eastern Europe, etc. Additionally, the recovery of the global real estate industry is also expected to drive home ownership rates creating a positive impact on this market. Another major factor driving this market is the strong performance of the online retail sector. The advent of online retail has made home decor products easily available, affordable and convenient to buy. Looking forward, the global home decor market is projected to exceed US$ X Billion by 2023, exhibiting a CAGR of around X% during 2018-2023. Market Summary: Based on the product type, the market has been segmented into home furniture, home textiles, flooring, wall decor, lighting and others. Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, home decor stores, direct to customer, gift shops, online, and others. Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The competitive landscape along with the profiles of key players operating in the market have also been examined in this report. Key Questions Answered in This Report: How has the global home decor market performed so far and how will it perform in the coming years? What are the key regional markets in the global home decor industry? What are the major distribution channels in the global home decor industry? What are the various stages in the value chain of the global home decor market? What are the key driving factors and challenges in the global home decor market? What is the structure of the global home decor market and who are the key players? What is the degree of competition in the global home decor market? Category: Business Services Market Research Aarkstore Enterprise +91 9987295242 | [email protected] | www.aarkstore.com
