US Home Decor Market Size
|Study Period||2019 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
|CAGR||> 4.00 %|
*Disclaimer: Major Players sorted in no particular order
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US Home Decor Market Analysis
The United States home décor market is expected to register a CAGR of 4% during the forecast period of 2021-2026.
The sudden COVID-19 pandemic has affected life and businesses across the globe. The US government has taken several protective steps to stop the spreading of the virus, which resulted in partial lockdowns, leading to the closure of physical retail stores for a longer time. However, as people got more time to spend at home, the majority of them started to redecorate their homes, which helped the market record more revenues. The demand for do-it-yourself (DIY) furniture and other home decor products is rising in the country owing to the growing consumer interests.
Due to fast-changing lifestyles and a rise in the number of house possessions, the United States home decor market is experiencing the highest growth, with a market share of more than 60% in the North American region. With the rising number of individuals owning homes in the country, the home decor market is on the rise. The home decor products like furniture, textiles, and floor coverings that are used to enhance the living space are gaining more momentum. One factor responsible for the rapid growth in the home décor market is the expansion of the real estate industry. A large number of people are accessing online retail outlets to decorate their homes. Other factors that are influencing the growth of the market are the rise in disposable incomes and improving the lifestyle of people. However, there are restraints that are slowing the market growth of home decor products, like the increasing price of raw materials like wood and leather for few products.
US Home Decor Market Trends
This section covers the major market trends shaping the US Home Decor Market according to our research experts:
Physical Retail Stores Account for a Higher Share in Market Sales
The home furnishings retail industry allows consumers to make their homes truly their own with their very choices of furniture and decor. The demand for home furnishings is cyclical, influenced by housing starts, as desires to remodel and redesign are not necessary during slow economic times. Demand is also driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service. Sales from home stores slowed down in Q1 of 2020 and are picking up again as markets are opening up.
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Increasing Consumer Interest Toward Home Decor is Driving the Market
Growing social media has become one of the influencing factors for the sales of home décor products. Most Americans have admitted that they find more home decor inspirations from home décor magazines, friends and family homes, television stores, etc. The manufacturers are also expanding their presence on social media platforms to get the new launches more familiar to the customers to make them purchase the products. The influential marketing tactics are also widely popular in the country owing to the rising millennial and generation X populations.
US Home Decor Industry Overview
The report covers major international players operating in the United States home decor market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping into new markets.
US Home Decor Market Leaders
Inter IKEA Systems B.V.
Bed Bath & Beyond Inc.
Ashley Furniture Industries, Inc.
Mannington Mills Inc.
Kimball International, Inc.
*Disclaimer: Major Players sorted in no particular order
US Home Decor Market News
- In September 2020, IKEA teamed up with Republic of Gamers (ROG) to develop a new range of affordable gaming furniture and accessories to bring the gaming experience at home to a new level. The range consisting of about 30 products was planned to be launched first in China in February 2021, and from October 2021, it will be available in other IKEA markets.
- In 2019, Ecosense, a fast-growing LED technology company, announced that it had acquired Lumium Lighting. Lumium Lighting is a privately owned, CA-based lighting company that specializes in the design and development of architectural linear lighting. Ecosense and Lumium both share similar values, development, and innovation philosophies.
US Home Decor Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Trends in the United States Home Decor Market
4.6 Porter's Five Forces Analysis
4.7 Technological Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Home Furniture
5.1.2 Home Textile
5.1.3 Flooring Coverings
5.1.4 Wall Decor
5.1.5 Lighting and Lamps
5.1.6 Other Home Decor Products
5.2 By Distribution Channel
5.2.1 Supermarkets and Hypermarkets
5.2.2 Specialty Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Manufacturing Companies
220.127.116.11 Ashley Furniture
18.104.22.168 Ikea USA
22.214.171.124 American Textile Systems
126.96.36.199 Acuity Brands Lighting Inc.
188.8.131.52 Generation Lighting
184.108.40.206 Mohawak Flooring
220.127.116.11 Shaw Industries Group Inc.
18.104.22.168 Mannington Mills Inc.
22.214.171.124 Kimball International
126.96.36.199 Armstrong Flooring
188.8.131.52 Herman Miller Inc.
184.108.40.206 Crane & Canopy Inc.
6.2.2 Retailer Companies
220.127.116.11 Bed Bath & Beyond Inc.
18.104.22.168 Wayfair Inc.
22.214.171.124 Pier 1 Imports Inc.
126.96.36.199 Crate & Barrel
188.8.131.52 Rooms To Go*
- *List Not Exhaustive
7. FUTURE OF THE MARKET
US Home Decor Market Research FAQs
What is the current United States Home Decor Market size?
The United States Home Decor Market is projected to register a CAGR of greater than 4% during the forecast period (2023-2028).
Who are the key players in United States Home Decor Market?
Inter IKEA Systems B.V., Bed Bath & Beyond Inc., Ashley Furniture Industries, Inc., Mannington Mills Inc. and Kimball International, Inc. are the major companies operating in the United States Home Decor Market.
US Home Decor Industry Report
Statistics for the 2023 US Home Decor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Home Decor analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.