The Worldwide DIY Home Decor Industry is Expected to Reach … – Business Wire
DUBLIN–(BUSINESS WIRE)–The “DIY Home Decor Market By Product Type, By Income Group, By Price Point, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global do it yourself (DIY) home decor market was valued at $240,635 billion in 2021, and is estimated to reach $372,060 billion by 2031, registering a CAGR of 4.7% from 2022 to 2031.
Home decor products such as furniture and textiles are installed across various settings, including spa, office, clean home, restaurants, camping, bedroom, outdoor, library, and stores. The home decor products include various items such as furniture, home textiles, and floor coverings.
Depending on end use, furniture designs can be modified through machine-based processes and handcrafting. The adoption of home decor products is considerably high in the developed regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are witnessing steady increase.
The DIY home decor market is highly fragmented due to the presence of multiple vendors in both international and regional players. Developing real estate industry drives the growth of the global DIY home decor market in the current scenario. The global DIY home decor market has witnessed significant growth over the years, owing to surge in popularity of home decor products such as furniture, home textile, and floor covering among consumers.
Moreover, rise in number of small-size houses has encouraged the use of products having facility for extra storage along with enhancing the aesthetical appearance of homes.
In addition, rise in popularity of eco-friendly home decor products among consumers, owing to increase in environment concerns significantly contributes toward the growth of the global market. Moreover, surge in disposable income and improvement in living standards in the emerging countries such as China and India along with rise in affinity of consumers toward luxury home decor products augment the growth of the home decor market.
Presence of low-cost home decor producers in China and Vietnam is further anticipated to drive the growth of the market. However, availability of low-quality and counterfeit products restricts the growth of the global market.
In addition, dearth of skilled labor, ineffective transportation, and lack of infrastructure facilities may act as a hindrance for the global home decor market. On the contrary, upsurge in demand for trendy, customized, & fashionable designs for home decor products and increase in popularity of home decor products among high-income consumers are anticipated to provide lucrative growth opportunities for the global home decor market.
Key Benefits
Key Market Segments
By Product Type
By Income Group
By Price Point
By Distribution Channel
By Region
Key Market Players
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900