Consumer & Luxury Goods Market Research News

Home decor market is expected to garner $664.0 billion by 2020

Consumer Market Research

The Global Home Decor market is expected to garner $664.0 billion by 2020, registering a CAGR of 4.2% during the forecast period 2015-2020. Home decor products have generated substantial demand among consumers owing to the growing consumers interest towards the concept of home decor. Asia-Pacific is the leading market, occupying around 31% of the market share followed by Europe.

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The market players are focusing on developing eco-friendly products since popularity of these products is growing among consumers, owing to rising environment awareness. Among the three key product segments; home textiles, floor coverings and furniture, floor covering segment occupied the largest share in the overall home decor marketin 2014.

The segment is expected to maintain its leading position throughout the forecast period, owing to the wide adoption of floor coverings in different geographical markets. In 2014, Asia-Pacific occupied the highest market share in floor covering segment.

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Rapid urbanization, increasing disposable income and growing/booming real estate sector in the region, are main driving forces for the growth of home decor market in the region.

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