Sustainable Home Decor Market is expected to grow from USD 330 billion in 2021 to USD 525.96 billion by 2029 : GreyViews

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Sustainable Home Decor Market Size By Price Point (Premium and Mass), By Income Group (Lower middle income, Upper middle income, and Higher income), By Product Type (Floor Covering, Furniture and Home Textile), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 13, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Sustainable Home decor market is operating currently and is predicted to expand shortly. The manufacturers and suppliers involved in the Sustainable Home decor market is present across various countries in the regions mentioned above.

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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as price point, income group, product type, and others. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.

The significant players operating in the global Sustainable Home decor market are Duresta Upholstery Ltd., Mohawk Industries Inc., Cisco Brothers Corp., Ashley Furniture Industries,LLC, Forbo Management SA, Kimball International Inc., Herman Miller, Inc., Inter IKEA Systems B.V., Armstrong World Industries, Inc., Greenington Fine Bamboo, Suofeiya Home Collection Co., among others. To achieve a substantial market share in the worldwide Sustainable Home decor market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Designing indoor and outdoor spaces that are both aesthetically pleasing and useful for occupants is known as sustainable home décor. They include textiles for the house, including carpets, textiles for the bedroom, kitchen, and dining spaces, as well as textiles for the living room. Sustainable home décor goods are available for everything from furniture to floor coverings including tiles, wood & laminate, vinyl & rubber, carpets & rugs, and others. Both automatic and manual procedures can be used to alter furniture designs. Sustainability is based on the simple principle that everything people need for their existence and well-being depends on the natural environment, either directly or indirectly, according to the United States Environmental Protection Agency (EPA). The three commonly recognised facets of sustainability are social, environmental, and economic. These factors must be united for something to be truly sustainable. Globally, home décor is popular, and generalists are learning new ways to maintain the beauty and tranquilly of their houses. The sustainable design aims to ensure no negative environmental effects by implementing creative, environmentally mindful design. Utilizing renewable resources, having little impact on the environment, and promoting a sense of interconnectedness between people and nature are all part of this.

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Scope of Sustainable Home decor Market Report

Report Metric

Information

Study Period

2021-2029

Base Year            

2021

Forecast Period

2022-2029

Market Share Unit

USD billion

Segments Covered

By price point, By income group, By product type, By Region

Regions Covered

North America, Europe, Asia-Pacific, South America and Middle-East and Africa

Major Players

Duresta Upholstery Ltd., Mohawk Industries Inc., Cisco Brothers Corp., Ashley Furniture Industries,LLC, Forbo Management SA, Kimball International Inc., Herman Miller, Inc., Inter IKEA Systems B.V., Armstrong World Industries, Inc., Greenington Fine Bamboo, Suofeiya Home Collection Co., among others

Segmentation Analysis

Mass is expected to be the fastest growing segment in 2021.

The price point segment is premium and mass. Mass is expected to witness the highest growth rate during the forecast period. The use of mass market items by customers in the upper and lower middle classes has a considerable impact on the growth of the market for sustainable home decor. Demand for mass-produced environmentally friendly home dcor will increase as more people move into the middle class.

The furniture segment is expected to be the fastest-growing segment in 2021.

The product type includes floor covering, furniture and home textile. Furniture  is expected to witness the highest growth rate during the forecast period. Due to environmental concerns, a lot of ecologically conscious furniture producers solely utilize natural materials. Utilizing sustainable natural resources, including rapidly growing bamboo and repurposed timber, was another area of emphasis. The majority of this type of furniture is certified by the Forest Stewardship Council (FSC).

Regional Analysis                                                         

The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Sustainable Home decor include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.

  • North America region witnessed a major share. Wider product accessibility and increased online and offline home décor channel penetration are credited with the market’s expansion. The maximum penetration of various décor products, including as furniture, lighting, ornamental flooring, and the use of textiles, is observed in the region with the most market participants. Additionally, the U.S. dominates the global market for outdoor furniture as a result of customers’ increasing willingness to spend money on home décor items.

Country Analysis

Germany’s sustainable home decor market size was valued at USD 23.1 billion in 2021 and is expected to reach USD 31.61 billion by 2029, at a CAGR of 4% from 2022 to 2029. Germany is the leading market for both importing and buying furniture among the countries of Western Europe. Sustainable furniture is a crucial part of consumers’ living rooms’ home décor and furnishings. The market for sustainable home décor is mostly driven by consumers’ increasing emphasis on outfitting their homes with unique furnishings and creative designs. To exhibit their greater personality or simply to live uniquely, customers opt for high-quality goods at premium prices.

China Sustainable Home Decor’s market size was valued at USD 29 billion in 2021 and is expected to reach USD 43.50 billion by 2029, at a CAGR of 5.2% from 2022 to 2029. China is the world’s biggest exporter of furniture. Even though it might have a bad reputation for creating inferior goods, China makes amazing ecological furniture. China’s furniture market, which covers everything from chopping wood to transporting it, is also the largest sector for employment creation due to the country’s astoundingly high population. China is a sizable nation with local sustainable home decor businesses established all over the place.

India’s Sustainable Home Decor market size was valued at USD 14.78 billion in 2021 and is expected to reach USD 21.18 billion by 2029, at a CAGR of 4.6% from 2022 to 2029. The demand for home décor items has increased as the interior design sector expands in emerging nations like India. Furthermore, the use of waste materials to create attractive looks has become more popular due to consumers’ growing preference for eco-friendly goods. In turn, this has enhanced the creative element in India’s home décor goods production.
Covid-19 Impact

Covid-19 had a major impact on almost all industries, such as food & beverage, consumer goods, manufacturing, automobile, chemical, etc. However, several companies operating in the consumer foods sector have seen increased revenue due to significant changes in lifestyle of people. In addition, the pandemic has led to significant growth in consumer goods across developing and developed countries.

Furthermore, the growth of this market is mainly driven owing to the rising demand for Sustainable Home decor in the end-user industry.

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