The global home care and decor market has been growing in recent years and is projected to continue to grow in the coming years. The market size, measured by revenue, is expected to reach $831.6 billion by 2027, with a CAGR of 3.9% from 2020 to 2027.
Home care and decor products provide consumers personal touch to their houses. These products come with luxury furniture, kitchen towels, floorings, lighting, modular kitchens and appliances, and all other necessary goods for beautifying a house or an apartment. Properly maintaining your furnishing and materials will preserve the design and protect your recent interior investment. Your updated home will stay beautiful with continued care and maintenance throughout the year.
In the last few years, the real estate sector has lifted worldwide, increasing the demand for home accessories and decor to add a more attractive and pleasant appeal. Along with the developing standards of living and purchasing ability, consumers are sloping towards premium home décor products to keep their homes more organized and attractive. Expanding e-commerce platforms offering home decor products at affordable price points, along with personalized design and technologically advanced product features, are some of the other vital factors creating a positive outlook for the market growth for home care and décor product across the globe. The adaption of décor products has been notably high in mature regions such as the U.S., Canada, and Germany, while consumer demand in developing countries such as china, brazil, and India anticipates increasing steadily.
This growth can be attributed to a number of factors, including the increased time spent at home during the COVID-19 pandemic and the related lockdown measures, as well as the growing trend of remote work and home quarantine. This has led to an increased focus on hygiene, particularly in high-contact areas of the home, which has driven demand for home care and decor products. Additionally, with around 84% of consumers changing their cleaning habits during the pandemic, companies have been able to capitalize on this trend by positioning their products to meet the increased demand. The home furnishing stores industry is also expected to grow, with a market size of $28.9 billion in 2023.
Some key players operating in the home décor market include proctor and gamble, Henkel AG, Unilever, Church, Reckitt and Benckiser, Dwight, IKEA Systems B.V, and Kimball international. IMARC Group reports an in-depth cover evaluation of the global homecare and décor market scenario, potential success and risk factors, growth indicative factors, and ongoing market opportunities. The global market also keeps buyers updated about the latest developments or innovations in the industry.”
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