The wall art segment is the highest contributor to the wall decor market in the US and is expected to grow at the fastest rate during the forecast period. The high demand and fastest growth rate in the segment come from the high price of the products owing to the creativity involved in manufacturing. Various globally-acknowledged artists sell their wall art products at premium prices. The US has a high population base of wealthy individuals, thereby opening opportunities for the segment. With the growing US economy, the wall art product segment is again expected to gain value during the forecast period. Moreover, the wall art segment is expected to be fueled by the growing popularity of gifting wall art products.
The potential growth difference for the wall décor market in us between 2020 and 2025 is USD 10.78 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver - The introduction of premium products owing to the improved standard of living is one of the key factors expected to trigger the market's growth in the forthcoming years. Enhanced lifestyles and rising disposable income are driving home renovation activities in the US. Various wall décor manufacturers are leveraging the Internet and social media to market their services in personalized products. Many retailers of wall décor products are expanding their portfolio by introducing specialized products for meeting the growing and diverse demand.
- Market Challenges - The rising competition increasing price war and reducing profit margins is a major challenge for the wall décor market growth in the US. In the US, manufacturers of wall decor have both organized and unorganized formats. They compete on parameters such as product portfolio, premiumization, differentiation, and pricing. The entry of new players and private-label brands will further intensify competition. This will lead to price wars, further degrading the quality of the product, which will affect the market negatively. Market competition and price wars intensify the need for operational efficiency required for cost optimization and pricing strategy. This reduces profit margins to sustain in the market by offering products at lower prices. Some retailers also close stores due to their underperformance and inability to achieve operational efficiency.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The wall décor market in the US report is segmented by Product (Wall art, Picture frames, Wall clock, and Other decorative accents) and Distribution Channel (Offline and Online).
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
- Amazon.com Inc.
- Bed Bath & Beyond Inc.
- Ethan Allen Interiors Inc.
- Franchise Concepts Inc.
- Haverty Furniture Companies Inc.
- Target Corp.
- The Home Depot Inc.
- Walmart Inc.
- Wayfair Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Wall Décor Market In US Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10% |
Market growth 2021-2025 |
USD 10.78 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.20 |
Regional analysis |
US |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Amazon.com Inc., Bed Bath & Beyond Inc., Ethan Allen Interiors Inc., Franchise Concepts Inc., Haverty Furniture Companies Inc., Target Corp., The Home Depot Inc., Walmart Inc., and Wayfair 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 the 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. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 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.
Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
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