Home Decor Market Latest Trends [2023-2028] | Global Demand and Forecast Report by IMARC Group
According to IMARC Group, the global home decor market size reached US$ 715.4 Billion in 2022. Looking forward, the market is expected to reach US$ 937.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028. Factors Affecting the Growth of the Home Decor Industry: Lifestyle and Demographic Changes: The expansion of the home decor market is heavily influenced by shifts in lifestyle and demographics. The ongoing trend of urbanization has resulted in more people residing in smaller living spaces like apartments and condominiums. Consequently, there is a growing need for decor solutions that save space and serve multiple functions. Moreover, changes in family structures, including the increase in single-person households and dual-income families, have an impact on consumer buying habits. Younger generations such as Millennials and Gen Z prioritize personalization and sustainability in their home decor choices, leading to a rise in unique and eco-friendly product...