The Home Decor Market 2024: Trends, Opportunities, and Growth Forecast
The “Home Decor Market (2024 Edition): Market Size, Trends, Opportunities, and Forecast By Product Type, Room/Area, Sales Channel, Region, By Country: 2020-2030″ report has been added to ResearchAndMarkets.com’s offerings. This comprehensive study provides a detailed analysis of the global home decor market, valued at USD 690.66 million in 2023, with an expected compound annual growth rate (CAGR) of 5.7% from 2025 to 2030.
Market Overview
The home decor market has seen steady growth due to rising consumer interest in interior design, increasing disposable incomes, and the influence of social media and digital platforms. Home decor includes a wide range of products such as furniture, lighting, textiles, wall art, and decorative accessories. The market is driven by the desire for aesthetically pleasing living spaces and the growing trend of personalizing home interiors.
One of the primary drivers of the home decor market is the increasing consumer focus on home aesthetics and comfort. As people spend more time at home, particularly during the COVID-19 pandemic, there has been a surge in demand for home decor products that enhance the ambiance and functionality of living spaces. The trend of creating personalized and stylish interiors has gained momentum, with consumers seeking unique and customizable decor items.
The rise of e-commerce and digital platforms has also played a crucial role in the market’s growth. Online shopping has made it easier for consumers to access a wide variety of home decor products, compare prices, and discover new trends. Social media platforms, influencers, and home decor blogs have further influenced consumer preferences, showcasing the latest design trends and inspiring home decor ideas.
Increasing disposable incomes and changing lifestyles have also influenced the home decor market. As more consumers move into urban areas and new homes, there is a growing demand for modern and functional decor products. Additionally, the trend of home renovation and DIY projects has contributed to the market’s expansion, as consumers seek to refresh their living spaces.
Segment Insights
By Product Type: The furniture segment holds the largest market share, accounting for approximately 35% of the global home decor market in 2023. The demand for stylish and functional furniture pieces is driven by the need to create comfortable and aesthetically pleasing living environments.
By Room/Area: The market is segmented by room/area, including bedroom, living room, outdoor, and other room/areas. Each segment presents unique opportunities and challenges, with the living room often being a focal point for home decor investments.
By Sales Channel: Sales channels include both online and offline retail. The online channel has seen significant growth due to the convenience and variety it offers, while traditional brick-and-mortar stores continue to play a vital role, especially for customers who prefer tactile experiences before purchasing.
Geographical Insights
Americas: The Americas represent the largest market for home decor, driven by high consumer spending, a mature retail sector, and a strong influence of design trends. The United States is a key market, with significant demand for both luxury and affordable home decor products. The region benefits from a well-established retail infrastructure, high digital adoption, and a strong presence of home decor brands and retailers. The growing interest in home improvement and the influence of social media on consumer preferences further support market growth.
Asia Pacific: The Asia Pacific region is expected to witness the highest growth rate, driven by rapid urbanization, increasing disposable incomes, and a growing middle-class population. Countries like China, India, and Japan are key markets, with expanding real estate sectors and a rising interest in modern and stylish home interiors.
Reasons to Buy This Report
In-Depth Comparative Assessment: The report provides a comparative assessment of the top 20 markets in the home decor industry, highlighting the total addressable market, opportunities, lucrative segments, and competitive positioning of leading companies.
Comprehensive Analytics: A deep dive into historical (2020-2023), current (2024), and forecast (2025-2030) market analytics of the home decor market offers valuable insights for strategic planning.
Detailed Analysis: The report offers a detailed analysis of the home decor market by product type, room/area, and sales channel across 20 countries, providing a granular view of market dynamics.
Post-Purchase Support: Buyers receive 90 days of support, including direct access to analysts for any questions or clarifications. Customized assistance and data customization requests are available to meet specific business needs.
Market Entry Strategies: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, challenges, and product positioning using the Opportunity Portfolio Matrix (OPM).
Strategic Company Movements: Tracking competitive developments and key players in the market, the report covers competitive strategies, mergers & acquisitions, new developments, future plans, and market share analysis of approximately 15 top companies.
Key Companies
The report assesses the competitive developments, strategies, mergers and acquisitions, new product development, and market share portfolio of the top 15 companies. Key companies in the global home decor market include:
- Mannington Mills, Inc.
- Inter IKEA Holding B.V.
- MillerKnoll, Inc.
- Mohawk Industries, Inc.
- Kimball International Inc.
- Ashley Furniture Industries, LLC.
- Forbo Management SA
- Duresta Upholstery Ltd.
- Shaw Industries Group, Inc.
- Armstrong World Industries, Inc.
