The recently released report, "United States Home Decor Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030," produced by Renub Research, includes extensive enterprise analysis and market percentage records. The competition, geographic distribution, and growth potential of the United States Home Decor Market are all examined in this study.
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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, the U.S. home decor market is shaped by a dynamic panorama encouraged by a cultural shift in the direction of personalized living spaces. With homeownership as a giant American aspiration, there is an intensified need to create visually attractive and comfortable homes. The market is considerably driven through growing disposable earning, especially in the upper-middle-class demographic, taking into consideration widespread investments in top and designer home décor products. This monetary stability contributes to a surge in demand for upscale furnishings, lights, and decorative products, reflecting a broader trend of consumers looking for state-of-the-art and unique elements to enhance their home aesthetics.
Further, the convenience-driven U.S. culture has notably shaped the home decor market, seen in supermarkets and hypermarkets expanding decor sections to offer a one-stop-shop experience, aligning with consumer preferences for efficient shopping. This approach provides accessible and competitively priced decor products. Simultaneously, e-commerce platforms have transformed the market, offering a wide range of choices and the convenience of online shopping. This shift has reshaped consumer behavior, allowing for easy price comparison, review reading, and style exploration, fundamentally altering how consumers engage with and make home decor purchases, contributing to the market's dynamic evolution. So, the United States Home Décor Market will be valued US$ 247.26 Billion by 2030.
Moreover, amid growing environmental issues, the need for sustainable home decor has surged, diversifying the market as clients prioritize eco-friendly options. This trend is prominent in Texas, where an innovative and environmentally aware populace actively drives the boom of sustainable home decor, featuring local organizations providing furnishings, textiles, and accessories crafted from recycled substances. Denver, Colorado, extends this cognizance on eco-friendliness, with neighbourhood agencies providing sustainable options for indoor and outside use. In Minneapolis, Minnesota, a strong design community emphasizes sustainability, providing diverse eco-friendly home decor made from recycled substances, natural fibres, and domestically sourced resources. These local dynamics underscore the escalating consumer choice for environmentally aware home decor across varied markets.
Furniture holds a dominant position in the U.S. home decor market
The United States's large and diverse population, coupled with a high standard of dwelling, propels the demand for aesthetically appealing and functional furnishings. A strong financial system and a cultural inclination in the direction of homeownership make contributions to sustained furniture purchases. The U.S. market benefits from a dynamic indoors design tradition, where furniture performs a vital role in expressing personal fashion. Also, evolving lifestyle traits, including remote work and home leisure, drive the need for versatile and comfortable furniture, in addition solidifying its dominance in the U.S. home decor market.
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Products – United States Home Décor Market breakup from 4 viewpoints:
1. Furniture
2. Floor Covering
3. Home Textiles
4. Others
Supermarkets and hypermarkets are experiencing boom in the U.S. home decor market because of evolving purchaser choices and comfort
These retail giants have improved their home decor sections, supplying a numerous variety of products at competitive charges. The one-stop-store model aligns with the convinience-orientated lifestyle, allowing clients to seamlessly combine home decor purchases with recurring buying. Moreover, the accessibility and sizable reach of supermarkets and hypermarkets cater to an extensive purchaser base, attracting the ones seeking budget-friendly and new home decor options. This strategic alignment with changing consumer habits and the benefit aspect contributes significantly to the expanding presence of supermarkets and hypermarkets in the dynamic U.S. home decor market.
Distribution Channel – United States Home Décor Market breakup from 4 viewpoints:
1. Supermarkets & Hypermarkets
2. Specialty Stores
3. E-Commerce
4. Others
The expansion of the upper-middle-class demographic in the U.S. home decor market is propelled by rising disposable earning and changing consumer aspirations
The upper-middle-class demographic section, characterised by economic stability and multiplied purchasing power, seeks state-of-the-art and personalized home environments. As homeownership becomes more plausible for this organization, there is a heightened demand for upscale and designer home decor products. Also, the need to show off a completely unique lifestyle through indoors aesthetics fuels the inclination toward top class home decor products. Retailers and brands responding to this trend with curated, outstanding services make contributions to the substantial increase of the upper-middle-class bracket in the dynamic U.S. home decor market.
Income group – United States Home Décor Market breakup from 3 viewpoints:
1. Higher Income
2. Upper-middle Income
3. Lower-middle Income
Competitive Landscape
The home décor market in the United States is dominated 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 of HNI Corporation.
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All companies have been covered from 3 viewpoints:
• Overview
• Recent Developments
• Revenue
Company Analysis:
1. Inter IKEA Systems B.V.
2. Bed Bath & Beyond Inc,
3. Herman Miller Inc.
4. Mohawk Industries Inc.
5. Williams-Sonoma, Inc.
6. Kimball International, Inc,
7. HNI Corporation
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