Portland, OR, Nov. 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. home decor industry generated $125.81 billion in 2019, and is expected to generate $158.92 billion by 2027, growing at a CAGR of 8.0% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top investment pockets, major winning strategies, key segments, and competitive scenarios.
Rapid growth of online retail platformand rise in consumer interest toward home décorgrowth of the U.S. home decor market. Conversely, surge in cost of raw materialsimpedes the market growth. Nevertheless, improvement in lifestyle due to rise in the disposable incomecreates a number of opportunities for the market players.
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Covid-19 Scenario-
- Due to the pandemic, the international trade was put on hold, which resulted into shortage of raw materials.
- Lockdown, on the other hand,interrupted the supply chain. In addition, a majority of the manufacturing facilities halted their operations too.
- The demand for home décor also declined during the first phase of the lockdown. However, the government bodies, in several regions, are uplifting the regulations, thereby allowing the companies to restart their processes.
The U.S. home decor market is classified on the basis of product type, income group, price point, distribution channel, and category. Based on product type, thefloor coverings segment held the largest market share in 2019, contributing to nearly half of the market. The segment is expected to maintain its dominance throughout the forecast period. In addition, the same segment is projected to manifest the fastest CAGR of 8.4% from 2019 to 2027. The report also includesfurniture and home textile segment.
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Based on distribution channel, thespecialty stores segment dominated the market with nearly half of the market in 2019, and is expected to lead the trail throughout the forecast period. On the other hand, this E commerce segment is also estimated to showcase the highest CAGR of 9.0% during the forecast period. Other segments in the report includes supermarkets and hypermarkets and others.
Based on income group, the higher incomesegment held the lion’s share in 2019, accounting for more than two-fifths of the market. In addition, the segment is also anticipated to register the highest CAGR of 8.7% during the forecast period. The report also includes lower-middle income and upper-middle income segment.
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Inter IKEA Group, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills, Inc., Mohawk Industries Inc., Shaw Industries Group, Inc., Herman Miller, Inc., Ashley Furniture Industries Ltd., Kimball International, and Duresta Upholstery Ltd are the key market players analyzed during this research.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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Home Decor Market
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