Home Decor Market Size To Reach USD 622 770 Million By 2027 At A CAGR Of 2.4%
BANGALORE from India, August 9, 2021 / PRNewswire / – The Interior decoration market is segmented by type (Home furniture, carpets, bath textiles, bed textiles, kitchen and dining room textiles, tiles, wood and laminate flooring, vinyl and rubber flooring, lighting, others), by application (Indoor, outdoor, others). The report covers the analysis of global opportunities and industry forecast from 2021 to 2027. It is published in Evaluate reports under Interior and home decoration Category.
The global interior design market size is expected to reach $ 622,770 million by 2027, from $ 540,760 million in 2020, at a CAGR of 2.4% over the forecast period 2021-2027
The major factors driving the growth of the Interior Decoration Market are:
The interior design market is gaining ground in emerging economies, due to the increase in the affluent population.
An increase in environmental awareness among consumers has shifted their preference towards environmentally friendly interior design products, which is a key growth factor in the global market.
In addition, the growth of the global interior design market has been propelled by a shift in consumer trends towards an urban lifestyle due to the increasing rate of urbanization. Adapting furniture and household appliances to the new lifestyle requires the use of top-of-the-range and quality products.
The increase in demand for trendy and unique furniture due to the rise of social media culture is expected to provide lucrative growth opportunities for the home decor industry.
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TRENDS AFFECTING THE GROWTH OF THE DECORATION MARKET
The increasing rate of urbanization has spurred the growth of the interior design market by shifting customer preferences to urban lifestyles. A change in lifestyle requires the right placement of furniture and furnishings, which must be of high quality. In addition, real estate expansion and development is expected to support the growth of the interior design market during the forecast period.
The popularity of buying home decor products online has increased due to the increasing penetration of e-commerce and smart devices such as mobile phones and tablets that provide convenient payment and distribution possibilities. With varied interior design products, easy access to products as well as increased availability has spurred the expansion of the interior design market.
In addition, the rise of the interior design industry has paved the way for lavish and high-end home decor products that provide customers with a memorable experience. These opulent and high-end objects contribute to the spiritual and aesthetic pleasure, as well as the sophistication of the residents of the house. Consumer demand for home renovations after a given period of time increases, which increases the demand for various interior design products such as wood or marble floors, decorative lighting and eco-friendly furniture. Thus, the rise of the interior design sector will in turn fuel the growth of the interior design market.
Browse the table of contents and list of figures at: https://reports.valuates.com/reports/QYRE-Auto-4Y6069/global-home-decor
HOME DECORATION MARKET SHARE ANALYSIS ‘
Based on the application market share, the indoor applications segment is expected to be the most lucrative. Interior application refers to the enclosed spaces of a house, such as a bedroom, living room, bathroom, kitchen and other covered areas. Consumers have been motivated to invest in these products as the trends in creative and inventive decor and furniture have changed.
Depending on the region, North America should be the most lucrative market. United States The fastest growing interior design industry is due to rapidly changing lifestyles and increasing number of real estate. Interior design products such as furniture, textiles and flooring used to enhance living space are gaining in importance.
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Main suppliers in the interior decoration market
Suofeiya House Collection
Spring window modes
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– The US Home Decor Market the height was evaluated at $ 125,813.0 million in 2019, and is expected to reach $ 158,929.1 million by 2027, registering a CAGR of 8.0% from 2020 to 2027. In 2019, the flooring segment accounted for a significant share of the total US interior decoration market revenue and is expected to grow at a CAGR of 8, 4% throughout the forecast period.
– The Global Digital OOH Marketplace (DOOH) the size should reach $ 13,180 million by 2027, from $ 7,317.7 million in 2020, at a CAGR of 8.3% over the forecast period 2021-2027.
– In 2020, the Home appliance market the size was $ 92,990 million and it is expected to achieve $ 141,950 million by the end of 2027, with a CAGR of 6.4% in 2021-2027.
– The Global Bedroom Furniture Market the size is evaluated at 140 $ 110 million in 2019 and the market size will reach $ 176,310 million by the end of 2026, with a CAGR of 3.3% during the forecast period 2021-2026.
– The Global Luxury furniture market the size should reach $ 41,380 million by 2027, from $ 31,240 million in 2020, at a CAGR of 4.1% in 2021-2027.
– The Prefabricated Bathroom Pods Market the height was evaluated at $ 1,242.2 million in 2020 and should reach $ 2,446.3 million by 2027, at a CAGR of 10.2% over the forecast period 2021-2027.
– Wall decoration market By type (Wallpaper, Wall mirrors, Wall art, Others), By application (Household, office and business, medical and dental facilities, hotels and spas, restaurants, cafes and bars, other)
– Do-it-yourself (DIY) home improvement retail market By type (Decoration and indoor garden, Paint and wallpaper, Tools and hardware, Construction materials, Lighting, Plumbing and equipment), By application (Disconnected online)
– The Global party supplies market was valued at $ 12,657.9 million in 2019, and is expected to reach $ 20,291.7 million by 2027, registering a CAGR of 8.8% from 2021 to 2027.
– Modular kitchen market By type (Modular kitchen in artificial stone, Modular kitchen in natural stone, Modular kitchen with fire-resistant panel, Modular kitchen in stainless steel, Others), By application (Home, office and commercial use)
– Bath textiles market By type (Cotton bath textiles, Bamboo fiber bath textiles, Others), By application (Household, Hotel, Other)
– In 2020, the Furniture market the size was $ 853,240 million and it is expected to achieve $ 1,208,620 million by the end of 2027, with a CAGR of 5.1% in 2021-2027.
To see the full list of related interior design reports
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