US HOME DECOR MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


US Home Decor Market Analysis:

The United States home décor market is projected to exhibit a compound annual growth rate (CAGR) of 4% during the forecast period spanning from 2021 to 2026.

The sudden onset of the COVID-19 pandemic has had a profound impact on both daily life and businesses worldwide. In response, the US government has implemented various protective measures to curb the spread of the virus, resulting in partial lockdowns and prolonged closures of physical retail establishments. However, with increased time spent at home, a significant number of individuals have taken the opportunity to embark on home redecoration projects, thereby bolstering market revenues. This trend is particularly evident in the growing demand for do-it-yourself (DIY) furniture and other home décor products, reflecting a heightened consumer interest in this sector.

The United States home décor market is currently experiencing robust growth, accounting for over 60% of the market share in the North American region. This growth can be attributed to evolving lifestyles and an increasing number of households. As more individuals become homeowners in the country, the demand for home décor products such as furniture, textiles, and floor coverings continues to surge. These products are utilized to enhance living spaces and are gaining significant traction in the market. The expansion of the real estate industry is a key driver of the rapid growth observed in the home décor market. Additionally, a growing number of consumers are turning to online retail platforms to fulfill their home decoration needs. Factors such as rising disposable incomes and an improved standard of living further contribute to the market’s expansion.

However, certain constraints hinder the growth of the home décor product market. Notably, the escalating prices of raw materials, such as wood and leather for select products, pose challenges to market growth.

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