North America Home Decor Market Outlook, 2029
The North America Home Decor Market is segmented into By Product Type (Home Furniture, Home Textiles, Flooring, Wall Decor, Lighting, Others), By Distribution Channel (Home Décor Stores, Supermarkets and Hypermarkets, Online Store, Gift Shops, Others) and By Application (Indoor, Outdoor).
- Bonafide Research
- 29-02-2024
- Pages : 86
- Figures : 12
- Tables : 20
- Region : North America
- Category : Consumer Goods & Services
- Apparels & Lifestyle
The North America Home Décor Market was valued at more than USD 160 Billion in 2023 owing to rising high consumer spending
- Historical Period2018-2022
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 160 Billion
- Largest MarketUnited States
- Fastest Market Mexico
- Format
Featured Companies
- 1. General Electric Company
- 2. Shaw Industries Group, Inc.
- 3. Tarkett S.A.
- 4. Forbo Holding AG
- 5. Gerflor Group
- 6. Armstrong Flooring, Inc.
- More...
Home Decor Market Analysis
The North American home decor market is a dynamic and vibrant industry that encompasses a wide range of products, styles, and trends aimed at enhancing and personalising living spaces. With a diverse consumer base spanning across the United States, Canada, and Mexico, the home decor market in North America reflects a rich tapestry of cultural influences, design preferences, and lifestyle choices. From traditional to contemporary, minimalist to eclectic, the North American home decor market caters to a multitude of tastes and aesthetics, offering consumers an extensive selection of furniture, furnishings, accessories, and decorative accents to create their ideal home environments. Economic factors, such as housing market trends, consumer confidence, and disposable incomes, play a significant role in driving demand for home decor products, while changing demographics, interior design trends, and technological advancements shape consumer preferences and market dynamics. The rise of e-commerce and online shopping has transformed the way consumers shop for home decor items, providing convenient access to a vast array of products and inspiration from the comfort of their homes. Additionally, the DIY (do-it-yourself) culture and sustainability trends have influenced consumer behaviour, driving interest in DIY projects, eco-friendly products, and personalised home decor solutions. As the home becomes an increasingly important sanctuary and expression of personal style, the North American home decor market continues to evolve and innovate, offering endless possibilities for consumers to create spaces that reflect their individuality, creativity, and lifestyle aspirations. According to the research report "North America Home Décor Market Outlook, 2029," published by Bonafide Research, the North America Home Décor Market was valued at more than USD 160 Billion in 2023. Economic growth and rising consumer confidence play a significant role in driving demand for home decor products. When consumers feel optimistic about their financial situation and the economy, they are more likely to invest in home improvement projects and purchase new home decor items to enhance their living spaces. Trends in the housing market, including new home construction, home remodelling, and resale activity, influence demand for home decor products. A robust housing market with high levels of new home sales and remodelling activity typically correlates with increased demand for furniture, furnishings, and decor accessories. Demographic shifts and changes in lifestyle preferences impact the demand for home decor products. For example, millennials entering the housing market and starting families have different tastes and preferences compared to older generations, leading to demand for modern, affordable, and multifunctional home decor solutions. Homeownership rates affect demand for home decor products, as homeowners are more likely to invest in decorating and furnishing their homes compared to renters. Changes in homeownership rates, mortgage rates, and housing affordability influence the demand for home decor items such as furniture, rugs, curtains, and wall art. Interior design trends, influenced by factors such as fashion, architecture, and popular culture, drive demand for specific styles, colours, and materials in home decor products. Consumers often seek to update their homes to reflect current design trends, leading to demand for new furniture styles, decor accents, and colour schemes. Seasonal events and holidays, such as Christmas, Thanksgiving, and the back-to-school season, drive demand for seasonal and holiday-themed home decor products. Consumers often purchase decorations, ornaments, and accessories to celebrate special occasions and create festive atmospheres in their homes.
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Download SampleMarket Dynamic
Market Drivers • Economic Factors: Economic conditions, including GDP growth, employment rates, and disposable incomes, significantly impact consumer spending on home decor products. During periods of economic growth and increased consumer confidence, individuals are more likely to invest in home improvement projects and purchase new furnishings and decor items to enhance their living spaces. • Housing Market Trends: Trends in the housing market, such as new home construction, home sales, and remodelling activity, have a direct impact on the demand for home decor products. A robust housing market typically correlates with higher demand for furniture, textiles, lighting, and other home decor items. Market Challenges • Economic Uncertainty: Economic uncertainty, including fluctuations in GDP growth, unemployment rates, and consumer confidence, can adversely affect consumer spending on discretionary items such as home decor products. During periods of economic downturn or instability, consumers may postpone or reduce spending on home decor, leading to decreased demand and sales for industry players. • Supply Chain Disruptions: Supply chain disruptions, such as natural disasters, geopolitical tensions, and global pandemics, can disrupt the production, transportation, and distribution of home decor products. Disruptions in the supply chain can lead to delays in product availability, increased costs, and challenges in meeting consumer demand, impacting both manufacturers and retailers in the industry. Market Opportunity • E-commerce Growth: The continued growth of e-commerce and online shopping presents significant opportunities for home decor retailers to expand their reach and customer base. Investing in e-commerce platforms, digital marketing, and online customer experiences can help retailers tap into the growing online market and reach consumers who prefer the convenience of shopping online for home decor products. • Smart Home Integration: The integration of smart home technology into home decor products presents opportunities for innovation and differentiation in the market. Smart home devices, such as smart lighting, thermostats, and security systems, offer convenience, energy efficiency, and connectivity features that appeal to tech-savvy consumers. Home decor manufacturers can explore partnerships with technology companies to develop smart home-enabled products and capitalise on the growing demand for connected home solutions.
Home Decor Segmentation
| By Product Type | Home Furniture | |
| Home Textiles | ||
| Flooring | ||
| Wall Decor | ||
| Lighting | ||
| Others | ||
| By Distribution Channel | Home Décor Stores | |
| Supermarkets and Hypermarkets | ||
| Online Store | ||
| Gift Shops | ||
| Others | ||
| By Application | Indoor | |
| Outdoor | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
Based on the product types, they are segmented into home furniture, home textiles, flooring, wall decor, lighting, and others. In North America, home textiles contribute a significant market share; home textiles serve both functional and decorative purposes in home decor. Bedding sets, curtains, and towels not only provide essential functionality but also contribute to the overall aesthetic appeal of a room. Decorative pillows and throws add texture, colour, and visual interest to seating areas and beds, enhancing the decor and ambiance of living spaces. The growth of e-commerce and online shopping has expanded access to a wide range of home textiles for consumers in North America. Online retailers offer a diverse selection of home textile products, competitive pricing, and convenient shopping experiences, driving demand for home textiles through digital channels and contributing to overall market growth. Home textiles offer versatility and flexibility in home decor, allowing consumers to easily update and refresh their living spaces without major renovations or investments. Swapping out bedding sets, changing curtains, or adding decorative pillows can instantly transform the look and feel of a room, offering consumers a cost-effective way to update their decor and adapt to changing design preferences. In North America, home textiles are often updated seasonally or in response to changing design trends, driving demand for new and refreshed products. Consumers may change bedding sets and curtains to reflect seasonal themes or update decorative pillows and throws to incorporate trendy colours, patterns, or textures, contributing to ongoing demand for home textiles in the market. In terms of the application, it is segmented into indoor and outdoor. Furthermore, according to the report, the distribution channels are segmented into home decor stores, supermarkets and hypermarkets, online stores, gift shops, and others. Indoor is leading the market for home décor in North America. With individuals spending more time at home, there is a heightened emphasis on creating environments that promote comfort, relaxation, and well-being. Consumers are seeking out indoor home decor products such as cosy bedding, soft furnishings, and ambient lighting to enhance comfort and create a sanctuary-like atmosphere within their homes. The rise of remote work has led to a greater demand for home office furniture and decor. As more people transition to remote work arrangements, there is a need to create dedicated home office spaces that are functional, ergonomic, and conducive to productivity. Consumers are investing in indoor home decor items such as desks, chairs, storage solutions, and decorative accents to personalise their home offices and optimise their work-from-home experience. Urbanisation and the trend towards smaller living spaces, particularly in urban areas and high-density developments, are driving demand for indoor home decor solutions that maximise space utilisation and functionality. Consumers living in compact apartments, condos, or tiny homes are seeking out multi-functional furniture, storage solutions, and space-saving decor accessories to make the most of limited square footage. In terms of distribution channel, the online store contributed the highest growth rate during the Forcaste period. Online stores offer unparalleled convenience and accessibility, allowing consumers to browse, shop, and purchase home decor products from the comfort of their homes at any time of day or night. With just a few clicks or taps, consumers can explore a vast array of home decor options, compare prices, read reviews, and make purchases without the need to visit physical stores. Online stores often offer competitive pricing on home decor products, thanks to the lower overhead costs associated with operating online-only businesses. Consumers can take advantage of discounts, promotions, and special offers available on e-commerce platforms, allowing them to find quality home decor products at affordable prices and potentially save money compared to purchasing from physical stores.
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Home Decor Market Regional Insights
Based on the report, the major countries covered include the United States, Canada, Mexico, and the rest of North America. The USA boasts a strong and resilient economy, characterised by robust GDP growth, low unemployment rates, and high levels of disposable income. A strong economy and healthy consumer spending habits drive demand for home decor products as consumers invest in furnishing, decorating, and renovating their homes to reflect their personal style and enhance their living environments. The USA is a global hub for innovation, creativity, and design excellence in the home decor industry. American designers, brands, and manufacturers are renowned for their cutting-edge designs, trend-setting aesthetics, and innovative product offerings, influencing design trends and consumer preferences not only in the USA but also around the world. The USA leads the way in e-commerce adoption and online shopping behaviour, with a mature and sophisticated e-commerce ecosystem. Online retailers such as Amazon, Wayfair, and Walmart dominate the e-commerce landscape, offering consumers a vast selection of home decor products, competitive pricing, and convenient shopping experiences that contribute to the overall leadership of the USA in the home decor market. The USA has a significant influence on global media, entertainment, and popular culture, shaping consumer tastes and preferences in home decor. American TV shows, magazines, blogs, and social media influencers showcase home decor trends, design inspiration, and product recommendations, influencing consumer purchasing decisions and driving demand for home decor products.
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Companies Mentioned
- General Electric Company
- Shaw Industries Group, Inc.
- Tarkett S.A.
- Forbo Holding AG
- Gerflor Group
- Armstrong Flooring, Inc.
- Acuity Brands Lighting Inc.
- Herman Miller, Inc.
- Ralph Lauren Corporation
- Inter IKEA Systems B.V.
- Ashley Furniture Industries, Inc
- H & M Hennes & Mauritz AB
Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Home Decor Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Product Type
- 5.4. Market Size and Forecast, By Application
- 5.5. Market Size and Forecast, By Distribution Channel
- 6. North America Home Decor Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Product Type
- 6.4. Market Size and Forecast, By Application
- 6.5. Market Size and Forecast, By Distribution Channel
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. United States Home Decor Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Product Type
- 7.8.3. Market Size and Forecast By Application
- 7.8.4. Market Size and Forecast By Distribution Channel
- 7.9. Canada Home Decor Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Product Type
- 7.9.3. Market Size and Forecast By Application
- 7.9.4. Market Size and Forecast By Distribution Channel
- 7.10. Mexico Home Decor Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Product Type
- 7.10.3. Market Size and Forecast By Application
- 7.10.4. Market Size and Forecast By Distribution Channel
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. Shaw Industries Group, Inc.
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Tarkett S.A.
- 8.5.3. Ralph Lauren Corporation
- 8.5.4. Ashley Furniture Industries, Inc
- 8.5.5. MillerKnoll, Inc
- 8.5.6. Inter IKEA Systems B.V.
- 8.5.7. H & M Hennes & Mauritz AB
- 8.5.8. Gerflor Group
- 8.5.9. Armstrong Flooring, Inc.
- 8.5.10. Forbo Holding AG
- 8.5.11. Acuity Brands, Inc.
- 8.5.12. General Electric Company
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Home Decor Market Size and Forecast, By Product Type (2018 to 2029F) (In USD Billion)
Table 6: Global Home Decor Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 7: Global Home Decor Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 8: North America Home Decor Market Size and Forecast, By Product Type (2018 to 2029F) (In USD Billion)
Table 9: North America Home Decor Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 10: North America Home Decor Market Size and Forecast, By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 11: Influencing Factors for Home Decor Market, 2023
Table 12: United States Home Decor Market Size and Forecast By Product Type (2018 to 2029F) (In USD Billion)
Table 13: United States Home Decor Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 14: United States Home Decor Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 15: Canada Home Decor Market Size and Forecast By Product Type (2018 to 2029F) (In USD Billion)
Table 16: Canada Home Decor Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 17: Canada Home Decor Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Table 18: Mexico Home Decor Market Size and Forecast By Product Type (2018 to 2029F) (In USD Billion)
Table 19: Mexico Home Decor Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 20: Mexico Home Decor Market Size and Forecast By Distribution Channel (2018 to 2029F) (In USD Billion)
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Home Decor Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Home Decor Market Share By Region (2023)
Figure 6: North America Home Decor Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Home Decor Market Share By Country (2023)
Figure 8: US Home Decor Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Canada Home Decor Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Mexico Home Decor Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Porter's Five Forces of Global Home Decor Market
Home Decor Market Research FAQs
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