A lead analyst at AMR highlighted that the home decor market across LAMEA is anticipated to grow at the fastest CAGR throughout the forecast period.
Download Sample Pages:
https://www.linkedin.com/feed/update/urn:li:activity:7056517989851885568
Allied Market Research published a research report on the home decor market. The findings of the report state that the global market for home decor generated $616.6 billion in 2019, and is projected to reach $838.6 billion by 2027, witnessing a CAGR of 3.9% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
Request Free Sample Report Now:
“Rise in urbanized population in emerging economies coupled with the increase in expenditure on home decor products such as rough textile and carpet have significantly contributed toward the growth of the global market. According to the global home decor market analysis, the floor covering segment generated the highest revenue in 2019 and is expected to remain dominant throughout the forecast period. This is attributed to the rise in demand for stylish floor covering products among consumers. In addition, the increase in popularity of home decor products coupled with rise in demand for various designs & customization positively impact the growth of the global home decor market.” said Shankar Bhandalkar, Team leader, Food and Beverages at Allied Market Research.
The report provides a comprehensive insight on the drivers, restraints, and opportunities to help the market players devise several growth strategies. Global urbanization, rising consumer interest in home decor, and modernization and developments in the real estate sector contribute to the market’s growth. However, rising raw material costs impede market growth. On the other hand, the increasing disposable income and an improved standard of living are predicted to create lucrative opportunities for market participants in the years ahead.
The report also offers a detailed scenario of the impact of the COVID-19 pandemic on the global home decor market. It is helpful for market players, new entrants, and investors to determine strategies as per the current scenario and improvise relevant business models for the next few years. Home decor manufacturers all over the world halted their production processes due to disruptions in the supply of raw materials like wood and metals (like steel and aluminium), as well as restrictions on logistical mobility during the lockdown. As many workers worked from home and needed office setups, the demand for home decor grew during the COVID-19 pandemic. Consumers’ purchasing habits had also changed because of the COVID-19 pandemic, and they now prefer to buy home decor items online rather than in physical stores.
The report offers a detailed segmentation of the global home decor market based on product type, income group, price point, distribution channel, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to achieve growth in the future.
Based on product type, the floor coverings segment contributed to the largest share in 2019, accounting for more than two-fifths of the global home decor market, and is estimated to maintain its dominant position during the forecast period. However, the furniture segment would cite the fastest CAGR of 4.0% from 2020 to 2027.
By distribution channel, the specialty stores segment held the largest share in 2019, contributing to more than two-fifths of the global home decor market, and is anticipated to retain its dominance throughout the forecast period. However, the e-commerce segment is expected to portray the fastest CAGR of 4.4% during the forecast period.
Based on region, the Asia-Pacific held the largest share in 2019, garnering nearly one-third of the global home decor market, and is projected to rule the roost from 2020 to 2027. On the other hand, LAMEA is expected to display the fastest CAGR of 4.7% throughout the forecast period.
Leading market players of the global home decor market analyzed in the report include Armstrong World Industries, Inc., Inter IKEA Group, Mannington Mills, Inc., Shaw Industries Group, Inc., Kimball International, Ashley Furniture Industries Ltd., Mohawk Industries Inc., Duresta Upholstery Ltd, Forbo International SA, and Herman Miller, Inc.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285 |UK: +44-845-528-1300 | Hong Kong: +852-301-84916 |
India (Pune): +91-20-66346060|Fax: +1-855-550-5975
Email: help@alliedmarketresearch.com.
Follow us on LinkedIn , Twitter, Facebook, Pinterest, YouTube & Instagram.