The global Home Decor market is anticipated to grow at a CAGR of 3.8 % during the forecast period (2022-2028). Home decor refers to products & items that are used for the interior decoration of houses including furniture, textile products, and flooring products. The major factor attributing to the growth of the global home décor market is the increasing sales of home décor products by people due to increased purchasing power due to increasing adjusted net national income per capita across the globe. According to the World Bank Data statistics, the adjusted net national income per capita has consistently increased over the last decade. The recorded adjusted net national income per capita increased from $7,246.71 in 2009 to $9,434.42 in 2019. Thus, increasing the demand for home décor products during the forecast period.
The production of home textile products is also increasing for home decor due to the growing textile industry. According to the Textile Industry report published by the India Brand Equity Foundation (IBEF) in February 2022, the textile industry of India is one of the oldest industries across the globe. The market size of the Indian textile industry was around $29.8 billion in 2021 giving employment to around 4.5 crore workers. India produced 2.4 MT of fiber and 4,762 million KGs of cotton yarn with recorded export of around 1.13 million tonnes of cotton yarn in 2021. The textile industry of India is estimated to consistently grow and reach around $209 billion by 2029. Thus, contributing to the growth of the global home décor market during the forecast period.
Some major players in the market include Inter IKEA Systems BV, Forbo International SA, Armstrong World Industries Inc., Mohawk Indusries Inc., Shaw Industries Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in May 2020, Theodore Alexander USA in partnership with Ralph Lauren Corp., an American-based fashion products company announced the expansion of its business in the US using the fashion stores of Ralph Lauren Corp. across the country.
Get Sample Copy of Global Home Decor Market at: https://orionmarketreports.com/request-sample/?id=113688&submit=Request+Sample%0D%0A
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Product Type
- By Price Point
- By Sales Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Inter IKEA Systems BV, Forbo International SA, Armstrong World Industries Inc., Mohawk Indusries Inc., Shaw Industries Inc., among others.
Get 15% Discount on Buying this Report: https://orionmarketreports.com/request-discount/?id=113688&submit=Request+Discount
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global Home Decor Market is available at: https://orionmarketreports.com/global-home-decor-market/113688/
Global Home Decor Market Report by Segment
By Product Type
- Furniture
- Home Textiles
- Floor Covering
By Price point
- Mass
- Premium
By Sales Channel
- Online Stores
- Offline Stores
About us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company name: Orion Market Reports
Contact person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
