New York, Global Sustainable Home Decor Market was valued at US$ 331.0 billion in 2021 and it is anticipated to grow up to US$ 556.3 billion by 2031, at a CAGR of 5.3% during the forecast period.
The global sustainable home decor market report from Global Insight Services is the single authoritative source of intelligence on Sustainable Home Decor Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
For many, sustainable home decor means working with local artisans from their local community to create handmade products. For others, sustainable home decor means weaving sustainable and local materials into their designs. With more consumers looking to source ethically made and sustainable home decor products, designers try to provide quality products that shoppers can connect with on many levels
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Market Drivers and Trends
Increasing levels of urbanization have resulted in an increasing number of new households being set up. Nowadays, more than half of the global population lives in urban areas. Going forward, these levels are expected to increase further, positively impacting the demand for home decor products. Moreover, home decor products are income elastic, with global disposable incomes increasing continuously over the next few years, particularly in economies such as Asia, Africa, the Middle East, and Eastern Europe. In addition, the recovery of the global real estate sector is also expected to drive homeownership rates creating a positive impact on this market. Another major factor driving this market is the strong performance of the online retail sector. Online retail has made home decor products easily available, affordable, and convenient to buy. Thus, factors such as increasing levels of urbanization, rising consumer disposable income, and strong performance of the online retail sector are boosting the growth of sustainable home decor market.
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Global Sustainable Home Decor Market Segmental Overview
The report analyses the global sustainable home decor market based on product type, income group, distribution channel, and region.
Global Sustainable Home Decor Market by Product Type
Based on product type, it is segmented into floor covering, furniture, and home textile. The floor covering segment is expected to have the largest sustainable home decor market share in 2021, owing to an increase in urbanization, an increase in disposable income, and an improvement in lifestyle. In addition, a rise in consumer interest in home decor products has added to the market’s expansion. Due to above mentioned factors, the floor covering segment is expected to receive the main market attraction resulting in market growth.
Global Sustainable Home Decor Market by Income Group
Based on income group, it is segmented into lower middle income, upper middle income, and higher income. The higher income segment is expected to dominate the market during the forecast period. The high income group of consumers are prone to impulsive buying, which is a key driver of the market. Due to the abovementioned factor, the higher income segment is expected to dominate the market during the forecast period.
Global Sustainable Home Decor Market by Distribution Channel
Based on distribution channel, it is segmented into supermarkets and hypermarkets, specialty stores, e-commerce, and others. The specialty stores segment is expected to be the largest segment in the sustainable home decor market in 2021. Specialty stores offer many advantages, including product expertise, pleasant atmosphere, personalized customer service, higher-quality products, and workshops & special events. Thus, the specialty stores segment will likely hold a major market share in 2021.
Geographical Analysis of Global Sustainable Home Decor Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to hold the majority of the market share in 2021. The appeal of sustainable home design items in this region is boosted by customers spending more on such items and by an improvement in living standards. Moreover, the presence of many potential vendors in this region further encourages market growth. This, in turn, boosts the demand for sustainable home decor in the North America region.
Major Players in the Global Sustainable Home Decor Market
The key players studied in the global sustainable home decor market are Cisco Brothers (US), Duresta Upholstery Limited (UK), Forbo Flooring UK Limited (UK), Greenington (US), Herman Miller, Inc. (US), IKEA North America Services, LLC (US), La-Z-Boy Incorporated (US), Lee Industries (US), MOSO International B.V. (The Netherlands), and Vermont Woods Studios (US).
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