Dec 7, 2023
Home décor market to see steady growth
The global home decor market, valued at $647.4 million in 2022, is projected to reach $1.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.9 percent from 2023 to 2032, says a report from Allied Market Research.
The home decor market is witnessing surge in sustainability practices and environmentally conscious product choices as a prominent trend. Consumers are increasingly seeking eco-friendly solutions, further increasing the shift towards responsible consumption. Furthermore, technological innovations, particularly the integration of smart home solutions, are driving transformative changes in the sector.
By product type, the floor covering segment held the highest market share in 2022, accounting for just under than half of the global home decor market revenue and is estimated to maintain its leadership status during the forecast period. Recycled flooring materials such as wood & laminate and tiles have had an impact on the market for flooring products. Consumers have shown high acceptance for stylish floor covering products, which are cost-effective and eco-friendly.
By distribution channel, the specialty stores segment held the highest market share in 2022, accounting for just under than half of the global home decor market revenue and is estimated to maintain its leadership status during the forecast period. Consumers prefer to analyze and evaluate products before purchase, thereby boosting the retail sales of home décor products through specialty stores. In addition, the e-commerce segment is projected to attain the highest CAGR of 5.3 percent from 2023 to 2032.


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