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Wall Decor Market Size, By Product (Shelves, Wallpaper/Stickers, Clock, Hangings, Frameworks, Mirror Works), By Distribution (Wholesalers/Distributors, Hypermarkets/Supermarkets, Specialty Stores, Online Retailers), By End-use (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2028

  • Report ID: GMI5217
  • Published Date: Feb 2022
  • Report Format: PDF

Industry Trends

Wall Decor Market size exceeded USD 27.7 billion in 2021 and is anticipated to grow at a CAGR of 5.5% from 2022 to 2028. Increasing demand for ready-to-use homes will augment the demand for home decor products during the forecast period.
 

Wall Decor Market Overview

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The market growth is attributed to the high investments and government push for infrastructural developments in developing countries such as India, Malaysia, and Indonesia. There is also a shift in consumer preferences, and now many of them are preferring to buy fully furnished homes, and this has resulted in an increase in sales of wall decor products. Wall decor products have become an inevitable part of our homes. Consumers are now also willing to spend a higher amount to keep their homes more decorated and appealing. The corporates are also investing in wall decor products to add aesthetic value and enhance comfort.
 

The market is also impacted by the increasing demand for interior design services. The service industry of interior designing is increasing at a faster rate, and this will positively impact the decor market expansion. The interior designing and renovation of old buildings in developed economies, such as the U.S., France, Germany, the UK, and others, with many decoration products, such as wallpapers, clocks, frames, etc., to make the wall look more appealing will increase the demand for decor products in the market.
 

The availability of substitutes may hinder the overall market progression. People may opt for substitutes, such as a movable show, table photo frames, etc., according to their preferences. The market has still untapped several underdeveloped economies. One of the reasons behind this is price-sensitive customers. The prices of wall decor products are increasing attributed to the growing raw material prices due to disruptions in the supply chain.
 

Increasing demand for shelves will positively impact the wall decor market demand

The shelves segment held 12% of the market share in 2021 and is expected to witness 5.5% growth rate through 2028. Shelve is one of the commonly used products for home decor. The shelves are a preferred decor product as it gives the consumer a dual service, it acts as a decor product for the wall and it is used to keep more decor items such as flower vase, frames, or other decor items. The shelves are also preferred by consumers as they have long durability and are available in various materials such as wood, plastic, or metal. They are also highly used in commercial buildings such as offices, restaurants, retail shops, etc.
 

Hypermarket/Supermarkets to remain one of the major retail outlets for the industry

Wall Decor Market Share

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Hypermarkets/Supermarkets distribution channel captured 44% of revenue share in 2021 and are poised to reach USD 17.5 billion by 2028. The main source for the consumers to buys decor products is the supermarkets. The hypermarket/supermarket allows consumers to see the product and its features like size and shape, helping them to decide. The chance of sales increases when the products are seen. Also, in some developing economies, where online retail is still not used on a large basis for product purchase, the main source of retails are these hypermarkets/supermarkets. On the other hand, in developed economies, hypermarkets/supermarkets collaborate with e-commerce platforms to deliver the products in less time.
 

High demand for wall decor products in residential houses

Wall Decor Market Size

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The residential wall decor market is estimated to attain a CAGR of 5.5% till 2028 led by the improving the quality of lifestyle, people are focusing on the appearance of their houses. Consumers want their homes to look more appealing and have good aesthetics, increasing the demand for home decor products. Owing to busy schedules, people are opting to purchase readymade and fully furnished homes with high-class interiors. For good interiors, interior designers need to use good wall decor products such as wallpapers, clocks, shelves, etc.
 

The market will showcase growth in APAC region

         Asia Pacific Wall Decor Market

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Asia Pacific wall decor market accounted for 40% of revenue share in 2021 and is predicted to cross USD 16.5 billion by 2028. It will remain the presiding region and will observe considerable growth in upcoming years owing to the construction industry growth in developing economies such as India, China, and Indonesia. The rapidly developing IT sector in India is speeding up the construction and will boost the interior decor market in the country. Expeditiously changing personal behavior & lifestyle, adoption of western culture & architecture, and increasing personal spending are the driving factors in this region.
 

The key companies operating in the market are IKEA, The Home Depot, Lowe’s, Bed Bath & Beyond Inc., Neiman Marcus, Wayfair LLC, etc. Mergers & acquisitions, product launches, strategic collaborations, and establishment of new sales & retail outlets are among some of the key strategies adopted by the industry leaders.
 

The wall decor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2028 for the following segments:

Market, By Product

  • Shelves
  • Wallpapers/Stickers
  • Clock
  • Hangings
  • Frameworks
  • Mirror works
  • Others

Market, By Distribution

  • Wholesalers/Distributors
  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Online Retailers
  • Others

Market, By End-use

  • Residential
  • Commercial

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Indonesia
    • Australia
  • Latin America
    • Brazil
    • Argentina
    • Chile
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa

 

Authors: Kiran Pulidindi, Hiralkumar Patel

Frequently Asked Questions (FAQ) :

Market size of wall decor was recorded at about USD 27.7 billion in 2021 and could grow at 5.5% CAGR over 2022-2028 with increasing demand for ready-to-use homes.

Shelves segment accounted for 12% of the market share in 2021 and will grow at nearly 5.5% CAGR through 2028 as they are available in various materials and have a long shelf life.

Hypermarkets/supermarkets held around 44% of revenue share and could cross USD 17.5 billion in revenue over 2022-2028 as this channel helps consumers to check the products’ features physically and make an informed decision.

Asia Pacific market held 40% of revenue share and could reach about USD 16.5 billion in remuneration by 2028 owing to the expanding construction industry in various developing countries.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 172
  • Countries covered: 23
  • Pages: 200

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