The blinds and shades market size was valued at $10.5 billion in 2021, and is estimated to reach $15.1 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.
Blinds and shades are used for window covering. It is made up of long horizontal and vertical slats of fabric, wood, plastic, aluminum that are joined together with cords. It provides better light control, maintain the privacy, durability, water resistant, heat resistant and insulation. It also maintains the temperature of the room.
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The blinds and shades market has observed huge demand in North America, Asia-Pacific, and Europe. Asia-Pacific is projected to register significant growth in near future owing to strong economic growth, rapid urbanization, and presence of large population base significantly contributing toward the growth of the blinds and shades market in Asia-Pacific. Moreover, advancements by industry players, increase in residential & commercial construction activities, and upsurge in home renovation & remodeling expenditures propel the global blinds and shades market growth. The roller shades segment accounted for the majority of the market share in 2021, owing to rise in awareness toward the protection of UV rays is expected to boost the demand for roller shades, which results in boosting the blinds and shades market growth.
Various market players have adopted strategies such as product launches, business expansions, acquisition, and agreements to expand their business and strengthen their market position. For instance, in August 2021, Springs Windows Fashions has launched vitale, a new brand of custom window treatment that offers blinds and shades which is a solution oriented, simplified selection of products a range of colors and styles. It provides the perfect product for the value conscious homeowner seeking beautiful, custom window treatments with a level of design. As a result, such strategic moves are expected to provide lucrative growth opportunities in the global blinds and shades market.
The demand for blinds and shades is largely driven by the increase in multifamily housing trends, rise in adoption of blinds and shades in commercial sector, and development of energy-efficient blinds and shades. Blinds and shades are commonly found in hotels and restaurants, offices, homes and others. In addition, health concern of people to avoid dirt, dust and excessive sunlight also boost the demand for blinds and shades. Moreover, rise in industrialization and urbanization in economies, which include India and Africa, is expected to foster the blinds and shades market growth. Further, a surge in consumer expenditure on home renovation and enhancement activities and improvement in new construction activities are expected to provide remunerative blinds and shades market opportunities for the players.
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Major players have adopted product launches, partnerships, and acquisitions as key strategies to sustain the competition and improve the product portfolio. For instance, in August 2021, Springs Windows Fashions has launched Vitale, a new brand of custom window treatment that offers blinds and shades which is a solution oriented, simplified selection of products a range of colors and styles. It provides the perfect product for the value conscious homeowner seeking beautiful, custom window treatments with a level of design.
Furthermore, Asia-Pacific registered the highest share of the global blinds and shades market share in 2021, owing to strong economic growth, rapid urbanization, and presence of large population base.
However, during the COVID-19 pandemic, various manufacturers in the blinds and shades market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of blinds and shades companies. In addition, lack of manpower and raw materials constrained the supply of raw materials of blinds and shades, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of blinds and shades companies.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging global blinds and shades market trends and dynamics.
Depending on product type, the roller shades segment has dominated the blinds and shades market, in terms of revenue in 2021 and projected to grow at a significant CAGR during the forecast period.
By end-user, the residential segment has registered highest revenue in 2021.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the global blinds and shades market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the blinds and shades industry.
The blinds and shades market forecast analysis from 2022 to 2031 is included in the report.
In-depth global blinds and shades market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
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