Wall Decor Market Size

Wall Decor Market Size

Wall Decor Market size was worth more than USD 29 billion in 2022 and is anticipated to record over 4% CAGR from 2023-2032. A surge in demand for ready-to-use homes is expected to augment the demand for wall décor products over the forecast period.

The increasing investments and government-backed initiatives focusing on infrastructure developments across economies such as Indonesia, Malaysia, and India will complement the industry growth. A shift in consumer preference toward fully furnished homes is also accelerating the sales of sophisticated décor products. Several developed and developing economies are witnessing a surge in the disposable income of the population, encouraging higher spending on modern and aesthetic home décor. Furthermore, commercial spaces are also investing heavily in superior décor products offering better comfort and aesthetic value.
 

In the recent past, the demand for interior design services has increased substantially, asserting a positive influence on the wall décor industry outlook. The growing focus on interior designing, and renovation of old buildings in countries such as the UK, the U.S., France, and Germany are also increasing the demand for décor products such as wallpapers, and frames.
 

Some of the major challenges to wall decor market development include the stagnant growth of the construction sector in Europe and the availability of décor substitutes. Over the past few years, the construction sector in Europe has dropped due to several demographic changes, economic instability, and the lack of infrastructure-related investments. Moreover, consumer preference is shifting towards substitutes such as table photo frames, movable shows, and others. In addition, wall decors have higher pricing as compared to alternatives, which may impact product penetration to some extent.