Wall Decor Market to Surpass US$ 70.9 Bn as Growing Demand for Nature-Inspired Interiors Grows in Modern Homes: FMI

Worldwide Sales of Wall Décor Products to Approach US$ 58.2 Billion in 2022

JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES, January 20, 2022 /EINPresswire.com/ -- An exhaustive analysis by FMI on the wall decor market provides riveting insights into key dynamics including drivers and restraints affecting the growth in the market. It uncovers hidden growth prospects across various segments on the basis of product type, base material, end use, and sales channel.

As per a thorough research by FMI, the global wall decor market is poised to reach US$ 58.2 Bn in 2022. Increasing construction of residential and commercial infrastructures across the globe is favoring the growth in the wall decor market. On account of this, the wall decor market is estimated to top US$ 70.9 Bn by the end of 2028.

Improved standard of living and rising infrastructural spending of individuals to enhance the aesthetic appeal of their homes across the U.S., Germany, China, and India are facilitating the demand for wall décors. Driven by this, sales are projected to rise at 4% CAGR during the forecast period 2022-2028.

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Growing inclination towards adopting elements derived from nature, such as wood, and nature-inspired patterns for décor to earthen luxury components is creating growth opportunities for the market.

Also, consumers are increasingly adopting wall décor to make the space look authentic, especially in modern homes. This transition in lifestyle preferences of consumers is estimated to create lucrative opportunities for the market.

In addition, owners of commercial spaces such as resorts, restaurants, hotels, and others are increasingly emphasizing on improving their interiors to create a warm and luxurious ambiance for increasing customer footfall, which is in turn, accelerating the sales of wall decors.

In terms of end use, the commercial segment is projected to outrank the residential segment, accounting for the lion’s share in the market. Increasing government investment across the commercial sector for the construction of hotels, resorts, restaurants, and spiritual institutes to expand the tourism industry is driving the growth in the segment.

“Leading companies are focusing on expanding their portfolio by introducing hand-crafted and easy-to-install decors such as frameworks, hangings, wall stickers, and others to capitalize on the trend of do-it-yourself (DIY) across North America and Europe. This is expected to bode well for the growth in the market,” says a FMI analyst.

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Key Takeaways from Wall Decor Market Study
• The U.S. is forecast to account for the maximum share in the North America market, expanding at 2.6% CAGR during the assessment period.
• The U.K. wall decor market is estimated to hold a significant share in Europe, growing at 2.2% CAGR between 2022 and 2028.
• Thailand is expected to emerge as a highly attractive market in South Asia, exhibiting sales at over 3% CAGR over the next ten years.
• On the basis of base material, the fabric & textile segment is estimated to register steady growth, accounting for 25% of the total sales through 2028.
• Among the product type, the wall sticker segment is projected to hold a significant share, expanding at 2.4% CAGR between 2022 and 2028.

Key Drivers

• Rising inclination towards adopting wood-based furniture and decors, owing to its luxurious appeal and premium look is rising the sales in the wood segment.
• Growing demand for nature-based material and easy to clean & maintain wall décors made using hand crafted material such as fabrics & textile is favoring the growth in the fabrics & textile segment.

Key Drivers

• Implementation of stringent regulation on the use of plastic and poor aesthetic appeal of plastic products are restraining the growth in the plastic segment.
• High cost, low durability, and fragile nature of wall decors made of glass are factors hampering the sales across the glass segment.

Competitive Landscape

As per FMI, leading players in the global wall décor market are expected to account for nearly 15% to 20% of the overall revenue share in 2021.
Key players are aiming at adopting strategies such as new product developments based upon new and innovation designs to strengthen their portfolio. In addition, these players are also focusing on collaborations, partnerships, mergers, and acquisitions to increase their customer base. For instance,

• In 2021, Paragon Décor Inc., a U.S.-based wholesale supplier of wall décor, announced the launching new products to expand its portfolio. The company also strives to keep creating innovative designs and continue to introduce seasonal product lines.

• In 2018, Kohl’s Illinois Inc. an American department store retail chain, announced entering into a strategic partnership with the Scott brothers for launching Scott Living at Kohl’s, an exclusive home lifestyle collection. This will assist the company to strengthen its portfolio and promoting the brand.

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Some of the key players operating in the market profiled by FMI are:

• Paragon Décor Inc.
• PTM Images
• Artissimo Designs
• Green Front Furniture
• Surya Inc.
• Neiman Marcus
• Kohl’s Illinois Inc.
• Crate and Barrel
• Scandiamoss Inc.
• Studio McGee LLC
• Stratton Home Décor
• Northern Oaks Décor Co
• Bubola & Naibo s.r.l.
• Ashleley Furniture Industries
• Inter Ikea Systems B.V.
• Others

More Valuable Insights on Wall Decor Market

The latest report by FMI provides a detailed analysis of the global wall decor market, providing vital insights into key factor driving the market over the assessment period. The study also disclosed growth projections on in wall decor market with detailed segmentation:

By Product Type:

• Shelves
• Wall Stickers
• Hangings
• Frame Works
• Mirror Works
• Metal Works
• Others

By Base Material:

• Wood
• Fabric & Textile
• Plastic
• Glass
• Metal
• Others

By End Use:

• Residential
• Commercial
o Hospitality
o Salon & Spa
o Offices & Showrooms
o Restaurants
o Educational Institutes
o Spiritual Institutes
o Others

By Sales Channel:

• Wholesalers/ Distributors
• Hypermarkets/ Supermarkets
• Specialty Stores
• Multi-brand Stores
• Online Retailers
• Others (Club Stores, Gift Shops)

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa

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Key Questions Covered in the Report

• The report offers insight into wall decor market demand outlook for the forecast period 2022-2028
• The market study also highlights projected sales growth for wall decor market between 2022-2028
• Wall decor market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Wall decor market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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