The recently released report, “United States Home Decor Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032
,” produced by Renub Research, includes extensive analysis and market percentage records. The study examines competition, geographic distribution, and growth potential in the U.S. home decor market.
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Page Contents
United States Home Decor Market Growth Outlook
The United States home decor market is predicted to grow at a compound annual growth rate (CAGR) of 4.84% from 2024 to 2030. Experiencing strong growth, this market is driven by a cultural shift towards personalized living spaces. With homeownership as a significant American aspiration, there is an intensified need to create visually attractive and comfortable homes.
The market is notably driven by growing disposable income, particularly in the upper-middle-class demographic, allowing for more significant investments in premium and designer home décor products. The economic stability of this group is contributing to a surge in demand for upscale furnishings, lighting, and decorative products, as consumers seek sophisticated and unique elements to enhance their home aesthetics.
Key Market Dynamics
Convenience-Driven Culture and Retail Evolution
The convenience-oriented U.S. culture has significantly shaped the home decor market, with supermarkets and hypermarkets expanding decor sections to offer a one-stop-shop experience. This shift aligns with consumer preferences for efficient shopping and provides competitively priced decor products. E-commerce platforms have also transformed the market, offering a broad range of options, enabling easy price comparison, and allowing consumers to explore diverse styles and reviews online.
U.S. Home Decor Market Value:
The market is projected to be valued at US$247.26 billion by 2030.
Sustainability Trends
Growing environmental concerns have led to a surge in demand for sustainable home decor. This trend is particularly prominent in states like Texas, where an eco-conscious populace actively drives the growth of sustainable decor. Local businesses provide furnishings, textiles, and accessories crafted from recycled materials. Similarly, Denver, Colorado, and Minneapolis, Minnesota, are embracing eco-friendly home decor trends, further highlighting the increasing consumer preference for sustainable products.
Product Segments in the U.S. Home Decor Market
- Furniture
- Floor Covering
- Home Textiles
- Others
Furniture: The Dominant Segment
Furniture holds a dominant position in the U.S. home decor market. The large and diverse population, coupled with a high standard of living, drives demand for aesthetically appealing and functional furnishings. The U.S. benefits from a dynamic interior design culture, where furniture plays a pivotal role in personal style expression. Lifestyle changes, such as remote work and home entertainment, are further driving demand for versatile and comfortable furniture, reinforcing its dominance.
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Distribution Channels in the U.S. Home Decor Market
- Supermarkets & Hypermarkets
- Specialty Stores
- E-Commerce
- Others
Supermarkets and Hypermarkets on the Rise
Supermarkets and hypermarkets are gaining traction in the U.S. home decor market due to evolving consumer preferences for convenience. These retail giants have expanded their home decor sections, offering a broad range of products at competitive prices. The one-stop-shop model aligns with a convenience-driven lifestyle, making it easy for consumers to combine home decor purchases with routine shopping.
Income Group Breakdown in the U.S. Home Decor Market
- Higher Income
- Upper-Middle Income
- Lower-Middle Income
Upper-Middle-Class Growth
The upper-middle-class demographic is a key driver of growth in the U.S. home decor market. With rising disposable incomes and increasing homeownership, this group is seeking upscale and designer home decor products that reflect personal style. The desire for unique interior aesthetics continues to fuel demand for premium home decor products, contributing to the market’s expansion.
Competitive Landscape
The home decor market in the United States is led by companies such as:
- Inter IKEA Systems B.V.
- Bed Bath & Beyond Inc.
- Herman Miller Inc.
- Mohawk Industries Inc.
- Williams-Sonoma, Inc.
- Kimball International, Inc.
- HNI Corporation
Related Reports
Company Analysis
All companies have been analyzed from three key perspectives:
- Overview
- Recent Developments
- Revenue
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