United States Home Decor Market Key Players 2024, Demand, Trends, Rising Revenue, Opportunities, and Forecast Analysis till 2033: SPER Market Research
Home decor is the collection of different patterns and components used to improve a living area’s visual appeal and functionality. This comprises items that bring the space together and express individual flair, as well as wall art, lighting, textiles, and furniture. People can showcase their distinct personalities and lifestyles through home décor, which can range from traditional and various styles to modern and minimalist designs. Eco-friendly methods, cultural changes, and technological breakthroughs all have an ongoing impact on home décor trends, creating a dynamic market that changes to suit consumer tastes.
According to SPER market research, ‘United States Home Decor Market Size- By Product, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the United States Home Decor Market is predicted to reach USD 300.23 Billion by 2033 with a CAGR of 4.39%.
Drivers:
The US market for home décor has been steadily expanding, and this upward trend is expected to continue. Floor coverings, fabrics, and furniture are all essential elements of home décor, and customer desire for these items is the main factor propelling this market increase. Additionally, the US home décor market analysis shows that the appeal of compact housing, which has improved homes’ aesthetic appeal, has led to a rise in demand for goods with better storage alternatives. Furthermore, a recent assessment of the sector found that the strong expansion of the real estate market is also driving up demand for home décor services. The growing market for home décor is a reflection of this growth.
Challenges:
There are numerous challenges affecting the home décor industry’s expansion and sustainability in the US. The main challenge is the intense competition, which usually leads to price wars and reduced profit margins. Businesses are vying for the attention of customers. Also, companies have to change their offerings as consumer demands move toward sustainable and eco-friendly products, often at a greater manufacturing cost. Additionally, the disruptions in the supply chain caused by global events have made it more difficult to manage inventory levels and on-time delivery. Additionally, consumers’ buying habits have changed as a result of the rise of e-commerce, compelling traditional retailers to invest in digital transformation while navigating the difficulties of online sales.
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Impact of COVID-19 on United States Home Decor Market
The COVID-19 epidemic had a major effect on the US home décor market. As people tried to make their homes more comfortable while they were living there, there was a greater demand for home renovation supplies. This change leads to a predilection for comfortable, multipurpose décor pieces that encourage rest, including plants and soft materials. E-commerce grew as a result of restrictions on physical storefronts, and many companies improved their online shopping experiences. But because of the supply chain’s delays and shortages brought on by the outbreak, customers started looking for sustainable and locally sourced products. Additionally, as more people concentrated on setting up efficient workstations due to the increase in remote work, there was a greater need for home office furniture.
United States Home Decor Market Key Players:
Additionally, some of the market key players are Ashley Furniture, Crane & Canopy Inc, Generation Lighting, Herman Miller Inc., Ikea USA, Kimball International, Mannington Mills Inc, Mohawk Flooring, Shaw Industries Group, Others.
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United States Home Decor Market Demand
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