Home Decor Market Size to Grow by USD 286.82 billion | Rise in Online Spending and Smartphone Penetration to Drive Growth | Technavio

NEW YORK, Nov. 30, 2021 /PRNewswire/ -- The home decor market size is expected to grow by USD 286.82 bn from 2020 to 2025. This market forecast report by Technavio helps businesses make confident decisions using expert analysis and research. 

Attractive Opportunities in Home Decor Market by Product and Geography - Forecast and Analysis 2021-2025

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Some of the primary growth drivers for the home decor market are the rise in online spending and smartphone penetration, increase in demand for multifunctional furniture, and rising popularity of blogs related to interior designing, according to Technavio. However, factors such as long product replacement cycle resulting in infrequent purchases may challenge market growth.

Product Segment Highlights

  • The home decor market has been segmented by product into furniture, floor coverings, and others.
  • The furniture segment is expected to have significant market share growth during the forecast period.

Regional Analysis

  • Based on geography, the home decor market has been segmented into five regions, namely APAC, North America, Europe, South America, and MEA.
  • 43% of the growth will originate from APAC.
  • China and India are the key countries for the home decor market in APAC.
  • An increase in demand for multifunctional furniture will drive the home decor market growth in APAC during the forecast period.

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Notes:

  • The home decor market size is expected to accelerate at a CAGR of 8.81% during the forecast period.
  • The home decor market is segmented product (furniture, floor coverings, and others) and geography (APAC, North America, Europe, South America, and MEA).
  • The market is fragmented due to the presence of many vendors holding significant market share.
  • The research report offers information on several market vendors, including Armstrong World Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Duresta Upholstery Ltd., Forbo Holding Ltd, Herman Miller Inc., Inter IKEA Holding BV, Kimball International Inc., Mannington Mills Inc., and Mohawk Industries Inc.

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Related Reports:

  • Luxury Furniture Market: The luxury furniture market has been segmented by distribution channel (offline and online), application (residential and commercial), and geography (Europe, North America, APAC, MEA, and South America). Download Free Sample Report
  • Home Furnishings Market: The home furnishings market has been segmented by product (home furniture and home textiles) and geography (Europe, North America, APAC, MEA, and South America). Download Free Sample Report

Home Decor Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.81%

Market growth 2021-2025

USD 286.82 billion

Market structure

Fragmented

YoY growth (%)

7.71

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 43%

Key consumer countries

China, India, US, Germany, Canada, UK, Mexico, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Armstrong World Industries Inc., Ashley Furniture Industries Inc., Berkshire Hathaway Inc., Duresta Upholstery Ltd., Forbo Holding Ltd, Herman Miller Inc., Inter IKEA Holding BV, Kimball International Inc., Mannington Mills Inc., and Mohawk Industries Inc.

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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