The global home decor market size was valued at USD 663.1 billion in 2018. Rising demand for furniture and fixtures as well as upholstery products will boost the product demand in the market. The product demand is fueled by consumer preferences for fancy items to decorate in homes, particularly wooden flooring and furniture. Furthermore, inclination towards the adoption of eco-friendly products that put less stress on the environment has increased the demand for creative home décor products manufactured with different raw materials, thereby fueling the demand for home décor products over the forecast period.
The shifting trend of consumers towards urban lifestyle on account of the increasing rate of urbanization has fueled market growth. Change in lifestyle incurs proper setting of furniture and furnishings about premium products with excellent quality. According to the United Nations, 55.0% of the global population is residing in urban areas in 2018. Therefore, this increasing rate will pose a positive effect on the demand for home décor products in the forecast period. Furthermore, expansion and development in the real estate sector are expected to supplement the growth of the home decor market.
Globalization has led to a wider market for consumers, which facilitates easier product availability with a variety of products across various distribution channels. Also, the growth of the interior designing industry has paved the way for fancy and premium home décor products that provide a ravishing experience for the visitors. These fancy and premium products help in providing a spiritual and aesthetic pleasure, which also adds to the sophistication of consumers living in the house. Growing consumer preference for the renovation of their house after a certain period boosts the availability of different home décor products such as wooden or marble flooring, decorative lighting, and eco-friendly furniture.
Furthermore, increasing penetration of e-commerce and smart devices like mobile phones and tablets with easy payment and distribution options has increased the adoption of online home décor products as a medium of shopping. Easy access to products as well as wider availability has also fueled the market growth with different home décor products. However, these products are often available at costlier prices, which makes it difficult for consumers across all income levels to purchase. Moreover, increasing the cost of raw materials associated with products such as wood and leather is also responsible for hampering the growth of the market.
Furniture was the largest product segment in 2018, accounting for 51.1% share of the overall revenue. Increasing preference for wooden furniture on account of premium quality and looks has fueled the segment growth. Besides, the influence of western culture plays an important role in increasing the adoption of modular kitchen and wardrobes.
Shifting trends towards the adoption of eco-friendly products has increased the application of the product in different locations of the house such as bedroom, bathroom, outdoor, and indoor. Various raw materials used in the manufacturing of furniture such as metal, plastic, glass, and leather, in combination with pinewood as an alternative, have gained traction in the market. Moreover, the increasing popularity of multifunctional furniture owing to its greater convenience is boosting the growth of furniture in the market.
Textile is expected to register a revenue-based CAGR of 7.2% from 2019 to 2025. Home textile products include products such as bed linen, curtains, kitchen linen, bathroom linen, floor covering, and upholstery. The application of these products has increased in the market increasing inclination towards hygiene and safety as well as maintenance of a homely environment. Moreover, increasing the adoption of oversized beds and mattresses as a result of western culture influence is expected to supplement the growth of the segment.
The indoor application segment accounted for the largest share of 92.6% in 2018. Indoor application pertains to indoor living space such as bedroom, living room, bathroom, kitchen, and other covered areas inside a house. Shifting trends towards creative and innovative furnishing as well as furniture has influenced the consumers to invest in these products. Increasing preference for compact products in the house has driven the market of foldable furniture, which provides ease of storage and convenience.
For instance, in February 2019, Inter IKEA Systems B.V. has launched space-saving shelves under its IVAR storage system product line. The product is manufactured particularly for small space dwellers. Increasing usage of upholstery in various applications also pose a great potential in the indoor home décor market. While, increasing adoption of western culture lifestyle has largely influenced consumers to buy luxury products, particularly for the bathroom and bedroom. Whereas, increased experiments with different types of lightings decorating the living room space have gained greater demand in the market.
The outdoor application segment is projected to expand at a CAGR of 7.6% from 2019 to 2025 owing to the increasing influence of western culture lifestyle. Increasing preference for outdoor seating of residential homes is driving the segment. Consumer inclination towards open space seating with fresh air and floral surroundings that provide a feeling of close to nature and growing preference for such surroundings among the majority of the urban consumers are the key driving factors.
The rise in the urban population has helped increase the popularity of outdoor home décor. These urban consumers to relish their outdoor experience are largely investing in outdoor décor products such as furniture for outdoor seating, wooden or grassy floorings, and decorative lightings.
North America was the largest regional market in 2018, accounting for 37.7% share of global revenue. The growth of the market is attributed to wider product accessibility, along with increased penetration of online as well as offline channels of home décor. The region with a large number of market players witnesses the highest penetration of different décor products such as furniture, lighting, decorative flooring, and usage of textiles. Moreover, the U.S. dominates the global outdoor furniture market due to the rising willingness of consumers to spend on home décor products.
The Asia Pacific is likely to witness significant growth in the market on account of shifting population to the urban areas. The region is witnessing the robust growth of the real estate sector implying the construction of new houses and buildings. Therefore, new construction derives new and innovative décor products available in the market. Growth of the interior design industry in developing countries such as Indonesia, China, and India has surged the demand for home décor products. Moreover, rising inclination towards eco-friendly products has increased the trend of waste material application to derive a fashionable look. This, in turn, has increased the creativity factor in manufacturing home décor products.
Key manufacturers in the industry include Inter IKEA Systems B.V.; Kimball International Inc.; Herman Miller, Inc.; home24; Hanssem Corporation; Koninklijke Philips N.V.; Conair Corporation; Suofeiya Home Collection Co., Ltd.; Springs Window Fashions LLC; and Siemens AG. The leading players in the market are stressing on product innovation as a result of new product development, which helps them gain a greater market share on a global level. The new product launches in the market help keep the interest alive of the consumers on account of increasing preference for a supreme and luxury lifestyle in the majority of the regions.
In September 2022, Home24 launched marketplace offers in Austria, France and Switzerland. This enabled Home24 to expand the accessory, home textile, and seasonal product categories.
In April 2021, Herman Miller Inc. acquired Knoll Inc. to become the preeminent leader in modern design and accelerate changes to the home and workplace.
In January 2021, Springs Window Fashion acquired B&C International, a leading European window treatment manufacturer. This acquisition expanded Springs' existing business by adding the B&C brand portfolio and European manufacturing footprint.
The market size value in 2020
USD 737.20 billion
The revenue forecast in 2025
USD 1037.14 billion
CAGR of 6.6% from 2019 to 2025
The base year for estimation
2015 - 2017
2019 - 2025
Revenue in USD million/billion and CAGR from 2019 to 2025
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, application, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; U.K.; Germany; China; India; South Africa; Brazil
Key companies profiled
Inter IKEA Systems B.V.; Kimball International Inc.; Herman Miller, Inc.; home24; Hanssem Corporation; Koninklijke Philips N.V.; Conair Corporation; Suofeiya Home Collection Co., Ltd.; Springs Window Fashions LLC; Siemens AG
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global home decor market report based on product, application, and region:
Product Outlook (Revenue, USD Billion, 2015 - 2025)
Application Outlook (Revenue, USD Billion, 2015 - 2025)
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
Middle East & Africa (MEA)
Central & South America
b. The global home decor market size was estimated at USD 697.18 billion in 2019 and is expected to reach USD 737.20 billion in 2020.
b. The global home decor market is expected to grow at a compound annual growth rate of 6.6% from 2019 to 2025 to reach USD 1,037.14 billion by 2025.
b. North America dominated the home decor market with a share of 37.5% in 2019. This is attributable to wider product accessibility, along with increased penetration of online as well as offline sales channels for home dÃ©cor products.
b. Some key players operating in the home decor market include Inter IKEA Systems B.V.; Kimball International Inc.; Herman Miller, Inc.; home24; Hanssem Corporation; Koninklijke Philips N.V.; Conair Corporation; Suofeiya Home Collection Co., Ltd.; Springs Window Fashions LLC; and Siemens AG.
b. Key factors that are driving the home decor market growth include increasing demand for furniture, fixtures, and upholstery products, coupled with consumer preferences for fancy decorative items, particularly wooden.
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