According to the global home decor market report by IMARC Group, the market reached a value of US$ 641.4 Billion in 2020. Looking forward, the market is expected to witness moderate growth during 2021-2026.
Home décor refers to products that are used for decorating a house or an apartment, including luxury furniture, home textiles, lighting, and flooring. With the expanding real estate industry and improving standards of living, there has been an increased demand for home accessories and furnishings as they provide a more aesthetic and pleasant appeal to the space.
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Base Year: 2020
Forecast Year: 2021-2026
Some of the major players and suppliers analyzed in the report include Inter IKEA Group, Forbo International SA, Armstrong World Industries Inc (NYSE: AWI), Mannington Mills, Inc., Mohawk Industries, Inc. (NYSE: MHK), Shaw Industries Group, Inc., Herman Miller Inc., Ashley Furniture Industries Ltd., Kimball International, and Duresta Upholstery Ltd.
Global Home Decor Market Trends
Over the years, with the inflating income levels and rapid globalization, homeowners have been putting increased focus on the importance and need for decorative items. In addition to this, consumers prefer to purchase home décor products from online retail platforms as these stores offer products from different parts of the world at discounted and affordable prices.
Moreover, due to the rising environmental concerns, the leading players in the market are introducing eco-friendly home décor products, which have minimal impact on the environment. They are also collaborating with interior designers to provide consumers with a broad range of customized home décor items.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Signature Verification Market Segmentation:
The report has segmented on the basis of product type, distribution channel and region.
Market Breakup by Product Type
- Home Furniture
- Home Textiles
- Wall Decor
- Supermarkets and Hypermarkets
- Home Decor Stores
- Gift Shops
- Direct to Consumer
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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