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The global home decor market was valued at US$ 641.4 Billion in 2020.
We expect the global home decor market to exhibit a CAGR of 4.8% during 2021-2026.
The expanding real estate sector, along with the rising per capita expenditures on high-end home décor products, represent some of the factors catalyzing the global home decor market.
The sudden outbreak of the COVID-19 pandemic has led to the shifting consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of home decor products.
Based on the product type, the global home decor market has been divided into home furniture, home textiles, flooring, wall decor, lighting, and others. Among these, home furniture exhibits a clear dominance in the market.
Based on the distribution channel, the global home decor market can be segmented into supermarkets and hypermarkets, home decor stores, gift shops, direct to consumer, online stores, and others. Currently, home decor stores account for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global home decor market include Inter IKEA Systems B.V., Kimball International Inc., Herman Miller, Inc., home24, Hanssem Corporation, Koninklijke Philips N.V., Conair Corporation, Suofeiya Home Collection Co., Ltd., Springs Window Fashions LLC, Siemens AG, etc.
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