The home decor market is expected to grow from its 2023 valuation of US$ 216,291.4 million to US$ 394,715.7 million by 2033. Through the course of the projected period, the global market is anticipated to grow at a CAGR of 6.2%.
The increasing consumer interest in decorating homes and improving home space is fueling the global market growth. The rising disposable income, changing preferences, and DIY home decor trends are driving the market. The demand for home decor products is surging as people are inclined to show their creativity through DIY activities.
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The global home decor market is booming, driven by a number of factors, including:
- Rising disposable incomes: As people around the world have more money to spend, they are increasingly investing in making their homes look and feel good.
- Growing urbanization: The move to cities is leading to a rise in demand for smaller living spaces that need to be both functional and stylish.
- Increasing personalization: People are more interested in expressing their own unique style in their homes, and home decor is a great way to do that.
- Shifting priorities: With more people working from home and spending more time indoors, there is a greater focus on creating comfortable and inviting living spaces.
Market Growth
- The rise of e-commerce: Online shopping is making it easier than ever for people to find and purchase home decor items.
- The popularity of social media: Platforms like Instagram and Pinterest are inspiring people to decorate their homes in new and creative ways.
- The emergence of new trends: New trends, such as sustainability and smart home technology, are creating new opportunities for growth in the home decor market.
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Key Segments in the Home Decor Market
Product Type:
- Home Furniture
- Rugs
- Bath Textiles
- Bed Textiles
- Kitchen and Dining Textiles Tiles
- Wood Laminate Flooring
- Vinyl Rubber Flooring
- Lighting
- Other Products
Distribution Channel:
- Retail Stores
- Direct to Consumer
- Manufacturer Stores
- E-commerce Stores
- Discount stores
- Rental Stores
- Club Stores
- DIY Stores
Application:
- Indoor
- Outdoor
- Other Applications
Region:
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
