Global Home Decor Market Size Insights Forecasts to 2033

• The Global Home Decor Market Size was Valued at USD 748.12 Billion in 2023
• The Market Size is Growing at a CAGR of 4.07% from 2023 to 2033
• The Worldwide Home Decor Market Size is Expected to Reach USD 1115.23 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Home Decor Market Size is Anticipated to Exceed USD 1115.23 Billion by 2033, Growing at a CAGR of 4.07% from 2023 to 2033.  

Market Overview

Products for home Decor, like furniture and textiles, are used in a variety of locations, such as spas, offices, clean rooms, restaurants, outdoor spaces, bedrooms, and stores. The products for home Decor comprise a range of products, including furniture, fabrics for the home, and floor coverings. It is possible to alter furniture designs via handcrafting and using machine-based procedures. Luxurious Decor products are used by customers to improve the design themes of their living rooms. The market for home decor products is driven by changing household needs related to renovation and interior decoration. In addition, the growing popularity of indoor gardening and decking out outdoor areas is expected to drive the growth of the market. The market need for products will increase due to growing demand for fabric materials, fittings, and furniture. Consumer preferences for expensive furnishings and flooring for home Decor, especially timber floors and furniture, are driving demand for the products.  

For Instance, In May 2024, Remax Furniture, an Indian luxury furniture brand, launched a new store in New Delhi, India, to expand its retail presence in the country.

Report Coverage

This research report categorizes the home Decor market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the home Decor market. Recent market developments and competitive strategies such as expansion, type launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the home Decor market.

Driving Factors

The home Decor market's product consumption is growing due to the steady growth in smart home solutions, which include speakers, smart decorative lighting, and attractive home appliances. In addition, the growing trend of purchasing connected technology-based Decor items with features like home security, next-generation entertainment, and personalized health management is driving market growth. The need for products is also being driven by a growing number of homes choosing custom-made practical decor items with features like simple entrance options, storage solutions, and home office product upgrades. The growing market for home decor is also greatly aided by the growing customer preference for eco-friendly products as a result of growing environmental concerns.

Restraining Factors

Premium furniture and floor coverings are more expensive, which restricts demand from middle-class and lower-class households. They increased product pricing as a result of the lockdown limitations, which slowed the rate of product consumption. Moreover, affordable imitation products are easily accessible in households, which restricts the growth of the home decor market.

Market Segmentation

The home Decor market share is classified into product and distribution channel.   

• The floor covering segment is estimated to hold a significant market revenue share through the projected period.

Based on the product, the home Decor market is classified into home textile, floor covering, furniture & home furnishings, and others. Among these, the floor covering segment is estimated to hold a significant market revenue share through the projected period. The floor covering market has arisen because of increased family expenditures on soft flooring during remodeling and home improvement projects. The floor covering segment is growing faster as a result of technological advancements in product design and material composition which motivate homeowners to install flooring.  

For instance, in January 2022, Unilin Technologies launched two new PVC-free floor covering technologies, XPC & P-SPC, providing users with a durable, long-lasting floor covering performance.

• The hypermarkets & supermarkets segment is anticipated to hold the largest market share through the forecast period.

Based on the distribution channel, the home Decor market is divided into hypermarkets & supermarkets, specialty stores, online channels, and others. Among these, the hypermarkets & supermarkets segment is anticipated to hold the largest market share through the forecast period. The hypermarkets and supermarkets market category is driven by consumers' easy access to a large range of reasonably priced and high-quality products all under one roof at supermarkets. These retailers frequently supply coupons for discounts on Decor products, which helps to meet consumer demand.

Regional Segment Analysis of the Home Decor Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the home Decor market over the predicted timeframe.

North America is anticipated to hold the largest share of the home Decor market over the predicted timeframe. The growth of North America is ascribed to more accessible products and a rise in the use of both offline and online channels for home Decor. The maximum penetration of various Decor products, such as furniture, lighting, ornamental flooring, and textile use, is observed in the region with a significant number of market players. Moreover, due to North America becoming more eager to spend money on home Decor products, the United States leads the world market for outdoor furniture.

Asia Pacific is expected to grow at the fastest CAGR growth of the home Decor market during the forecast period. The market is expected to increase rapidly in the Asia Pacific region due to population shifts into urban areas. The real estate market in this region is expanding rapidly, which suggests that new homes and structures will be developed. The rise in the interior design sector in developing nations like China, India, and Indonesia has increased demand for home Decor products.

Europe is anticipated to hold a significant share of the home Decor market over the predicted timeframe. The European home decor market is expanding due to reasons such as an increasing urban population, fewer living spaces, and the quick uptake of smart home technologies. Europe's home Decor market as a result of growing disposable income and social media influence.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the home decor market along with a comparative evaluation primarily based on their type offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Wayfair
• Mannington Commercial
• Remax Furnitures
• Unilin Technologies
• 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
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2023, Wayfair announced it would be collaborating with many home Decor companies to provide a greater selection of products, including high-end furnishings and Decor, on its website.

• In January 2023, A carefully chosen selection of broadloom carpet options, Mannington Commercial launched the Dwellings Collection, which offers coziness and comfort to all kinds of living spaces, including multi-family and senior living rooms.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the home Decor market based on the below-mentioned segments: 

Global Home Decor Market, By Product

• Home Textile
• Floor Covering
• Furniture & Home Furnishings
• Others

Global Home Decor Market, By Distribution Channel

• Hypermarkets & Supermarkets
• Specialty Stores
• Online Channels
• Others

Global Home Decor Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa