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The Europe wall décor market size is estimated to grow at a CAGR of 9.91% between 2022 and 2027. The market size is forecast to increase by USD 12,754.59 million. The Europe wall decor market is experiencing significant growth driven by increasing sales of diverse wall decor items in the region. The market benefits from the expanding sales of gifts and home accents, which have seen a 30% increase in sales value in the past decade. The holiday and festive season sales have also contributed to this growth, particularly with the rise of online retail in developed economies like the US.
Consumers from upper-income and upper-middle-income classes show a preference for premium wall decor, thanks to their high disposable income. Aspirational collections of wall decor cater to this affluent consumer segment, boosting both volume and value sales. The increasing sales of wall decor are expected to continue driving market growth during the forecast period.
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Print-on-demand (POD) is a unique application of digital printing that is mostly used for personalization services. Examples of services that use POD technology include customized walls in one's bedroom with a name, photo, zodiac sign, or personal belongings; photo frames or wall art in the living room customized with group photos; or any other wall decorative items. Vendors of wall decor items offer the product customization option to their customers at both the macro and micro levels.
Customers can choose their products based on their customization requirements. Retailers such as Walmart, IKEA, and Amazon also offer customization services. Amazon's exclusive customization service in the wall decor space is known as Amazon Prints, through which customers can customize their orders on their own. Owing to these factors, the wall decor market in Europe is expected to grow during the forecast period.
The wall decor market in Europe is expected to face a heavy threat during the forecast period due to the long product life of wall decor. Most wall decor items tend to have a long lifespan. Consumers do not purchase such products very often as they last for many years unless broken or damaged by any other means. Therefore, retailers need to focus more on the merchandising and inventory aspects of wall decor items. The long product shelf life reduces the replacement purchases of wall decor items.
However, technology and seasonal trends keep the merchandise and stock-keeping units (SKUs) moving in the retail stores. This increases customer footfall in retail stores. Although the latest interior design trends play a significant part in determining the purchase decisions of customers, most wall decor items are meant for long-term use and generally do not require frequent replacements. Also, some wall decor, like wall art, is expensive and considered to be a one-time expenditure by many. This challenge is expected to hamper the growth of the wall decor market in Europe during the forecast period.
The market share growth by the wall art segment will be significant during the forecast period. The segment is expected to benefit heavily from the increase in the adoption of smartphones, tablets, and personal digital assistants (PDAs). The growing adoption of these devices is leading to an increase in the adoption of online shopping for the purchase of wall art. The wall art segment was valued at USD 5,980.17 million in 2017 and continued to grow until 2021. Wall art is priced higher in comparison to other types of wall decor, owing to the artistry involved in designing wall art. Most well-known artists sell their work at premium prices. The high purchasing power of a major share of the population in the UK and Germany resulted in the vendors focusing heavily on these countries to sell wall art. The market is expected to benefit heavily from the recovering economies in countries such as Spain, Germany, and the UK. A major share of the population in the region considers wall art to be an investment that gains value over time, and hence, investing heavily in purchasing these items over other wall decor is expected during the forecast period.
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Based on distribution channel, the market has been segmented into offline and online. The offline segment will account for the largest share of this segment. The revenue of this segment is generated from the sales of products through three distribution channels, namely specialty stores; hypermarkets, supermarkets, and convenience stores; and other stores such as D2C channel, discount stores, interior designers/design firms, department stores, offline retail stores allow consumers to assess the quality of products, while also allowing them to get the required product information from retailers and to buy the products immediately. Retail outlets often employ sales professionals who can help consumers with the details of the product. Despite accounting for the highest share of the wall decor market in Europe, the offline segment is expected to grow at a slower rate than the online segment during the forecast period, primarily due to the increasing popularity of online shopping portals.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Europe wall décor market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Wall Décor Market In Europe Scope |
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Report Coverage |
Details |
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Page number |
163 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.91% |
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Market growth 2023-2027 |
$ 12754.59 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.36 |
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Regional analysis |
Europe |
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Performing market contribution |
Europe at 100% |
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Key countries |
Germany, UK, France, Italy, and Rest of Europe |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amazon.com Inc., Artemest s.r.l., Bed Bath and Beyond Inc., Carrefour SA, Costco Wholesale Corp., Debenhams Plc, Dunelm Group Plc, Home24 SE, Inter IKEA Holding BV, JUNIQE GmbH, Kingfisher Plc, Maisons du Monde, Matalan Retail Ltd., Next Retail Ltd., Oliver Bonas Ltd., Otto GmbH and Co. KG, The Range, Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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