Home décor market is witnessing a robust growth all over the world. Items like furniture, floor covering and textiles are important components of home décor. Due to the rapid growth of the real estate industry the home décor market is growing at a steady pace.Also, factors such as globalization have facilitated the easier and variety of choices in home décor products and designs for the consumers. In addition, a trend of using eco-friendly products that have a low key impact on the environment has also boosted the growth of the home décor market.Moreover, a dazzling growth of the online retail segment for buying things like furniture where such home décor products are available at a discounted or affordable prices have also spurred market growth. In addition, improving lifestyle and an increase in the disposable incomes is also encouraging the growth of the home décor market.
However, increasing cost of raw materials such as wood and leather is limiting the growth of this market.Home décor consists of the decoration of a liveable interior where layout and furnishings of a space are enhanced using ornamentation and beautification. Items like household furniture, furnishings for home and other decorative items like lamps, clay pots, artefacts and candles etc. are used for home décor.This XploreMR report on the global home decor market forecasts that the global home decor market will touch a value of nearly US$ 855,680 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
APEJ Market Set to Dominate the Global Home Decor Market in Terms of Revenue
The market in APEJ is set to dominate the global home decor market in terms of value and this trend is projected to sustain itself throughout the assessment period. APEJ Home decor market is the most attractive market, growing at a robust CAGR over the assessment period.
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Home Furniture Segment Poised to Touch a Value of Nearly US$ 202,900 Mn in 2022
As per the forecast of XploreMR, the home furniture segment is expected to reach a value of nearly US$ 202,900 Mn in the year 2022. This represents a robust CAGR during the forecast period of 2017-2022. Home furniture segment is expected to account for more than one-fifth of the revenue share of the product type segment by the year 2017 and is expected to gain market share by the end of the year 2022.
Retail Stores Segment to exhibit a CAGR of 6.3% During the Assessment Period
As per the forecast of XploreMR, the retail stores segment is slated to touch a figure of nearly US$ 272,300 Mn in the year 2022. This represents a CAGR of 6.3% during the assessment period from 2017 till the year 2022.This segment is expected to lose market share by the end of the year 2022. The retail stores segment is expected to account for nearly one-third of the revenue share of the distribution channel segment by the year 2017.
The report also profiles companies that are expected to remain active in the expansion of global home decor market through 2022, which include Inter Ikea Systems B.V, Koninklijke Philips N.V., Suofeiya Home Collection Co., Ltd., Springs Window Fashions LLC, Zepter International Inc., Conair Corporation, Siemens AG, Hanssem Co., Ltd., Samson Holding Ltd. and The Oneida Group, Inc.