Luxury Home Decor Market is Likely to Grow a CAGR of 5.14% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Luxury Home Decor Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Luxury Home Decor Market generated revenue of around USD 118 billion in 2020 and is anticipated to grow at a CAGR of over 5.14% during the forecast period from 2021 to 2027 to reach around USD 207 billion in 2027. While, cumulative growth opportunity presented by the global Luxury Home Decor is around USD 1,276 billion during 2021 to 2027.

Global Luxury Home Decor Market, 2020 – 2027 (USD Million)

Browse the full report at  Luxury Home Decor Market: Global Industry Size, Share, Statistics and Forecast 2015 – 2027 (credenceresearch.com)

Home décor consists of anything that makes a home look more stylish and aesthetic while also having certain purposes to its inhabitants. Home décor products include a whole array of items that people purchase to decorate their homes. These include rugs, carpets, vases, shelves, clocks, towels, candles, mirrors, lights, flooring, paintings, murals, ornaments, crystals, etc.

Home Textile to Grow at Rapid Pace

Furniture, Home Textile and Floor Covering are major types of Luxury Home Décor. Among all, furniture segment held the largest share in the global revenue generation of Luxury Home Décor in 2020. While, home textile is expected to be the fastest growing segment of the global Luxury Home Décor industry. Floor covering on the other hand is also expected to gain prominence over the forecast period.

Online Retailing to Grow

Supermarkets & Hypermarkets, Specialty Stores, E-commerce and Others are some of the important distribution channels in the global Luxury Home Décor market. Supermarkets & hypermarkets is a leading distribution channel for Luxury Home Décor with over 35% share in 2020. However, online channel to exhibit attractive growth over the forecast period.

Major Players are Focusing on Brand Value

Inter IKEA Systems BV, 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, Duresta Upholstery Ltd., Marks & Spencer, Gucci, and Hermes are some of the leading players in global Luxury Home Décor market. Most of the players are working on to offer high quality products in order to retain their brand identity. They are also working on making their products less vulnerable to counterfeit products.

China and India to Grow at Rapid Pace

China, India, Japan and South Korea are most promising markets for the global Luxury Home Décor industry. China dominate the Asia Pacific market with over 40% share of the regional revenue. While, Europe dominate the global revenue generation. At the same time, U.S. is single largest market with highest contribution to the revenue of Luxury Home Décor industry. Egypt, GCC countries, Brazil, Singapore and Taiwan are also gaining increasing share in global Luxury Home Décor industry.

Market Segmentation

Global Luxury Home Decor Market by Type, 2015 – 2027

  • Furniture
  • Home Textile
  • Floor Covering

Global Luxury Home Decor Market by Distribution Channel, 2015 – 2027

  • Supermarkets & Hypermarkets
  • Specialty Stores
  • E-commerce
  • Others

Global Luxury Home Decor Market by Company, 2015 – 2027

  • Marks & Spencer
  • Gucci
  • Hermes
  • Inter IKEA Systems BV
  • 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
  • Duresta Upholstery Ltd.
  • Others