Home Decor Market 2019 to rise as a Global Trend-Setter in Technology and Development with growth in Revenue and Gross Margin by 2025
The global homedecor market size is expected to reach USD 1.0 trillion by 2025,
according to a new report by Grand View Research, Inc., expanding at a CAGR of
6.6% over the forecast period. Several factors including increasing preference
for luxury lifestyle as a result of the influence of western culture and
growing interior designing market are expected to boost the market growth in
the near future.
Growing urbanization has resulted in
increased urban dwellers. According to United Nations, 55% of the population is
living in urban areas in 2018. As a result of growing urbanization, consumers
are expected to build their homes according to the standard of their society
and therefore are willing to choose creative and innovative home decor
products.
Main players including Inter
IKEA Systems B.V.; Kimball International Inc.; Herman Miller, Inc.; home24;
Hanssem Corporation; Koninklijke Philips N.V.; and Conair Corporation.
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Report On home decor Market:
In addition,
growing working population, particularly women, has induced the consumers to
invest in these products owing to increasing purchasing power. Therefore,
growing urban population will pose a positive effect on the demand for home
décor products in the forecast period. Moreover, globalization has resulted in
presence of a wider market for consumers, which facilitate easy product
availability with a variety of products across various distribution channels.
Further key findings from the study
suggest:
·
By product, textile is
projected to ascend at a CAGR of 7.2% over the forecast period
·
The indoor application segment
dominated the global market with a revenue share of 92.6% in 2018
·
North America dominated the
global home decor market in 2018, accounting for 37.7% share of the overall
revenue
·
The industry is highly
competitive in nature with the main players including Inter IKEA Systems B.V.;
Kimball International Inc.; Herman Miller, Inc.; home24; Hanssem Corporation;
Koninklijke Philips N.V.; and Conair Corporation.
Indoor was the
largest application segment in 2018 owing to its increasing application in
different locations of the house such as bedroom, bathroom, kitchen, living
room, and other covered areas inside the home. Shifting trend towards creative
and innovative furnishing as well as furniture has influenced the consumers to
invest in these products.
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Release of this report:
Grand View Research has segmented the
global home decor market on the basis of product, application:
Home Décor Product Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Furniture
·
Textile
·
Flooring
·
Others
Home Décor Application Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Indoor
·
Outdoor
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. In addition, influence
of the western culture plays an important role in increasing adoption of
modular kitchen and wardrobes.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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