Market Size of United Kingdom Home Decor Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 23.47 Billion |
Market Size (2029) | USD 30.30 Billion |
CAGR (2024 - 2029) | 5.24 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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UK Home Decor Market Analysis
The United Kingdom Home Decor Market size is estimated at USD 23.47 billion in 2024, and is expected to reach USD 30.30 billion by 2029, growing at a CAGR of 5.24% during the forecast period (2024-2029).
The UK home decor market is growing faster than other home retail markets, as customers opt for affordable options to give their homes a new look. As home decor is more resilient than other UK homeware markets after Brexit, it is imperative for retailers to ensure that investment is directed to the growing and improving trend-led and seasonal collections and the improving in-store marketing and better-showcasing products online. Decorative accessories may drive the market ranges through their trend-led, cost-efficient options for updating the look of a home. The new luxury is about having unique experiences, gaining new skills, being eco-friendly, and showing connectivity. Customers want products that add to their knowledge and sense of identity and products that give meaning and significance to their experiences.
COVID-19 is an incomparable global public health emergency that affected almost every industry, and the long-term effects are projected to impact industry growth during the forecast period. The online home decor industry in the United Kingdom is expected to continue to benefit from the growing demand for online shopping over the next five years, particularly after the surge in e-commerce during the COVID-19 (coronavirus) pandemic. The increased time spent time at home prompted consumers to prioritize spending on their households.