Home decor market size to grow by USD 289.49 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- The global home decor market size is estimated to increase by USD 289.49 billion between 2022 and 2027. The market's growth momentum will accelerate at a CAGR of 7.27%. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Discover more insights on the market - Request a sample report

Global home decor market – Vendor analysis
Vendor offerings -

• Armstrong World Industries Inc. - The company offers home decor solutions such as raised panel, EASY ELEGANCE deep coffer white, and WOODHAVEN beadboard.
• Ashley home stores Ltd. - The company offers home decor solutions such as wall mirrors, floor mirrors, and faux plants.
• Bed Bath and Beyond Inc. - The company offers home decor solutions such as candles, diffusers, faux florals, and greenery.
• Costco Wholesale Corp. - The company offers home decor solutions such as wall art, picture frames, and indoor plants.
• For details on vendors and their offerings – Buy the report!

Vendor landscape –

The global home decor market is fragmented, with the presence of several established vendors. A few prominent vendors that offer home decor in the market are Armstrong World Industries Inc., Ashley home stores Ltd., Bed Bath and Beyond Inc., Costco Wholesale Corp., Duresta Upholstery Ltd., Forbo Management SA, Global Home Interiors, HANSSEM Co. Ltd., Home24 SE, Inter IKEA Holding BV, Kimball International Inc., Mannington Mills Inc., MillerKnoll Inc., Mohawk Industries Inc., Otto Home Goods, Penney IP LLC, Shaw Industries Group Inc., Springs Window Fashions LLC, Suofeiya Home Collection Co. Ltd., and Wayfair Inc. and others.

Market players compete on various factors, including price, quality, brand, and variety. Companies undertake various marketing strategies to increase their market shares. The acquisition of new brands will enable the leading competitors to maintain their dominance in the global home decor market during the forecast period. In addition, market players should to focus on the customization of furniture through consumer interactions. Major competitors are trying to mass-customize their products by interacting with consumers through AR-based applications. Such technological advances are expected to drive the growth of the global home decor market during the forecast period.

Global home decor market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global home decor market - Segmentation assessment

Segment overview
Technavio has segmented the market based on product (furniture, floor coverings, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The furniture segment will account for a significant share of the market's growth during the forecast period. This growth is attributed to factors such as the rising popularity of wooden furniture among middle- and high-income customers. In addition, the adoption of eco-friendly products has increased. Pinewood, metal, plastic, glass, and leather are some of the eco-friendly raw materials used for making furniture. These factors will drive the growth of the furniture segment in the market during the forecast period.

Geography overview
Based on geography, the global home decor market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global home decor market.

• APAC is estimated to account for 50% of the growth of the global market during the forecast period. The growth of the market is attributed to factors such as rising disposable income, the recovery of the real estate industry, rapid urbanization, and increasing awareness. The high performance of the online retail sector is also driving market growth in the region. Home decor products are easily available, affordable, and convenient to buy from online retail platforms.

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Global home decor market – Market dynamics

Leading drivers - The growing importance of innovative, customized furniture is driving market growth. The preference for smart and customized furniture has increased. For instance, IKEA and Ethan Allen offer innovative furniture and customized fabric. On December 6, 2022, IKEA announced its plan to develop multifunctional furniture. Thus, growing innovation in furniture by vendors will fuel the growth of the market during the forecast period.

Key trends - Enhancement of consumer experience through technology is a key trend in the market. AR and VR apps allow users to input the dimensions of rooms and then select items from the catalog accordingly. Consumers can virtually see different colors and textures by pointing their smartphones at a particular item of furniture. They can also find similar products and select the desired home decor items. These factors will support the growth of the market.

Major challenges - High volatility in raw material prices and transportation costs is challenging market growth. The prices of raw materials have increased due to their shortage. Raw materials, such as polyurethane foam, faced a shortage in late 2020, which increased their price. The prices of other raw materials, such as springs, fabrics, board materials, mechanisms, feathers, fiber, and packaging goods, have also increased. Moreover, the capacity of transportation is restricted, and tariffs have increased. These factors increase the final cost of the product. This, in turn, will hinder the growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this home decor market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home decor market between 2023 and 2027
• Precise estimation of the size of the home decor market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the home decor market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of home decor market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global home decor market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global home decor market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Furniture - Market size and forecast 2022-2027
• Exhibit 34: Chart on Furniture - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Furniture - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Furniture - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Furniture - Year-over-year growth 2022-2027 (%)

• 6.4 Floor coverings - Market size and forecast 2022-2027
• Exhibit 38: Chart on Floor coverings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Floor coverings - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Floor coverings - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Floor coverings - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027
• Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 47: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 49: Chart on Comparison by Distribution Channel
• Exhibit 50: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 51: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 55: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 59: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Armstrong World Industries Inc. 
• Exhibit 112: Armstrong World Industries Inc. - Overview
• Exhibit 113: Armstrong World Industries Inc. - Business segments
• Exhibit 114: Armstrong World Industries Inc. - Key offerings
• Exhibit 115: Armstrong World Industries Inc. - Segment focus

• 12.4 Ashley home stores Ltd. 
• Exhibit 116: Ashley home stores Ltd. - Overview
• Exhibit 117: Ashley home stores Ltd. - Product / Service
• Exhibit 118: Ashley home stores Ltd. - Key offerings

• 12.5 Bed Bath and Beyond Inc. 
• Exhibit 119: Bed Bath and Beyond Inc. - Overview
• Exhibit 120: Bed Bath and Beyond Inc. - Product / Service
• Exhibit 121: Bed Bath and Beyond Inc. - Key news
• Exhibit 122: Bed Bath and Beyond Inc. - Key offerings

• 12.6 Costco Wholesale Corp. 
• Exhibit 123: Costco Wholesale Corp. - Overview
• Exhibit 124: Costco Wholesale Corp. - Business segments
• Exhibit 125: Costco Wholesale Corp. - Key offerings
• Exhibit 126: Costco Wholesale Corp. - Segment focus

• 12.7 Duresta Upholstery Ltd. 
• Exhibit 127: Duresta Upholstery Ltd. - Overview
• Exhibit 128: Duresta Upholstery Ltd. - Product / Service
• Exhibit 129: Duresta Upholstery Ltd. - Key offerings

• 12.8 Forbo Management SA 
• Exhibit 130: Forbo Management SA - Overview
• Exhibit 131: Forbo Management SA - Business segments
• Exhibit 132: Forbo Management SA - Key offerings
• Exhibit 133: Forbo Management SA - Segment focus

• 12.9 HANSSEM Co. Ltd. 
• Exhibit 134: HANSSEM Co. Ltd. - Overview
• Exhibit 135: HANSSEM Co. Ltd. - Product / Service
• Exhibit 136: HANSSEM Co. Ltd. - Key offerings

• 12.10 Inter IKEA Holding BV 
• Exhibit 137: Inter IKEA Holding BV - Overview
• Exhibit 138: Inter IKEA Holding BV - Product / Service
• Exhibit 139: Inter IKEA Holding BV - Key news
• Exhibit 140: Inter IKEA Holding BV - Key offerings

• 12.11 Kimball International Inc. 
• Exhibit 141: Kimball International Inc. - Overview
• Exhibit 142: Kimball International Inc. - Business segments
• Exhibit 143: Kimball International Inc. - Key offerings
• Exhibit 144: Kimball International Inc. - Segment focus

• 12.12 Mannington Mills Inc. 
• Exhibit 145: Mannington Mills Inc. - Overview
• Exhibit 146: Mannington Mills Inc. - Product / Service
• Exhibit 147: Mannington Mills Inc. - Key offerings

• 12.13 MillerKnoll Inc. 
• Exhibit 148: MillerKnoll Inc. - Overview
• Exhibit 149: MillerKnoll Inc. - Business segments
• Exhibit 150: MillerKnoll Inc. - Key offerings
• Exhibit 151: MillerKnoll Inc. - Segment focus

• 12.14 Mohawk Industries Inc. 
• Exhibit 152: Mohawk Industries Inc. - Overview
• Exhibit 153: Mohawk Industries Inc. - Business segments
• Exhibit 154: Mohawk Industries Inc. - Key offerings
• Exhibit 155: Mohawk Industries Inc. - Segment focus

• 12.15 Otto Home Goods 
• Exhibit 156: Otto Home Goods - Overview
• Exhibit 157: Otto Home Goods - Product / Service
• Exhibit 158: Otto Home Goods - Key offerings

• 12.16 Penney IP LLC 
• Exhibit 159: Penney IP LLC - Overview
• Exhibit 160: Penney IP LLC - Product / Service
• Exhibit 161: Penney IP LLC - Key offerings

• 12.17 Suofeiya Home Collection Co. Ltd. 
• Exhibit 162: Suofeiya Home Collection Co. Ltd. - Overview
• Exhibit 163: Suofeiya Home Collection Co. Ltd. - Product / Service
• Exhibit 164: Suofeiya Home Collection Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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