Furniture, textiles and floor covering products are important components of home decor. Expansion and further developments in real estate industry, have supplemented the growth of world home decor market. Globalization facilitates easier and wider availability of home decor products and designs for consumers. Moreover, growing consumers preference towards adoption and usage of eco-friendly products, known for their minimal impact on the environment, has also boosted the growth of the market.
Nowadays, consumers prefer online retail platforms for buying furniture, owing to the all-time availability of a wide array of home decor products at discounted/affordable price. Increasing cost of raw materials, such as leather and superior quality wood, is limiting the market growth. Improving lifestyle and increasing disposable income of individuals would offer several growth opportunities to the players operating in the market.
The world home decor market is segmented on the basis of products and geography. The product segment is further segmented into furniture, textiles and floor coverings. The furniture segment is sub-segmented into kitchen, living & bedroom, bathroom, outdoor and lighting. The textiles segment is further categorized into rugs textiles, bath textiles, bed textiles, kitchen & dining textiles and living room textiles. The floor coverings segment includes tiles, wood & laminate, vinyl & rubber, carpets & rugs and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA regions.
The world home decor market is expected to grow at a CAGR of 4.2% during the forecast period 2015 - 2020. Floor covering segment occupied the largest market share in 2014, followed by furniture. In 2014, world home decor market was dominated by Asia-Pacific region and the region is expected to register the fastest CAGR during the forecast period.
The key players operating in the market, include Inter IKEA Group, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills, Inc., Mohawk Industries Inc., Shaw Industries Group, Inc., Herman Miller, Inc., Ashley Furniture Industries Ltd., Kimball International and Duresta Upholstery Ltd. These players are concentrating on development of eco-friendly home decor products.
The world home decor market is segmented on the basis of products and geography.
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