Enjoy complimentary customisation on priority with our Enterprise License!
The US - Wall Decor Market size is estimated to grow at a CAGR of 8% between 2023 and 2028. The market size is forecast to increase by USD 10.53 billion. The growth of the market depends on several factors, including an improved standard of living increasing introduction of premium products, the rising popularity of blogs related to interior designing, and a growing culture of gifting.
The report includes a comprehensive outlook on the US Wall Decor Market offering forecasts for the industry segmented by Product, which comprises wall art, picture frames, wall clock, and other decorative accents. Additionally, it categorizes Application into residential and commercial and covers Distribution Channel, including offline and online. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The improved standard of living and the increasing introduction of premium products is notably driving the market growth. Home renovation has increased in the US, mostly led by enhanced lifestyles and rising disposable income. The demand for home renovations is further propelled by modern and designer home decor products that include wall decor items and the penetration of the Internet and social media. The demand for wall decor products also rises due to high adoption and preference for personalized products.
Moreover, with globalization, major retailers of wall decor products are expanding their portfolio by introducing specialized products to meet the growing and diverse demand. The improved standard of living and demand for innovative and premium products that suit the interior and aesthetics of the home also propel the demand for wall decor products in the US during the forecast period.
The increasing trend for interior designing is an emerging trend shaping the market growth. The rising GDP of the country and the US economy have been strengthening over the last five years. This has resulted in higher spending on home improvement and decor products. There has been a significant interest shown in designer wall decor (such as wall art, wall clocks, and picture frames). Interior designers and designing companies have seen this opportunity and are trying to introduce trends that influence homeowners to invest in interior design.
However, increased media penetration and awareness of the artistry of different regions further increase the inclination toward interior design and designer wall décor. The growing number of working women and their increased participation in household decision-making also significantly increase interest in interior designing. Such factors will increase the market growth during the forecast period.
The rising competition increasing price war and reduced profit margins will be a major challenge hindering the market growth. In the US, manufacturers of wall decor have both organized and unorganized formats and they compete on parameters such as product portfolio, premiumization, differentiation, and pricing. The entry of new players and private-label brands will further intensify competition. This will lead to price wars, further degrading the quality of the product, which will affect the US - wall decor market negatively.
Moreover, the competition in the US - wall decor market further intensifies the presence of multichannel retailers (such as Walmart), some of whom have a lower cost structure. Augmented online shopping is led by the rise in Internet penetration and the use of computers, tablets, smartphones, and other mobile devices. The inability to adapt to the changing competitive landscape can affect the profit margins of the players, which will hinder market growth.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
US Wall Decor Market Customer Landscape
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.
Bed Bath and Beyond - The company offers wall décor such as SAFAVIEH emmy wall décor, home rustic wood sign, cheungs galvanized metal flower wall décor, and others.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 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 wall art segment is estimated to witness significant growth during the forecast period. The US - wall decor market witnesses high consumption of luxury and premium wall art products. Home furnishings and home decor products are used as high-end gifting products in the US, and people opt more for wall art products than for picture frames and wall clocks, especially for wall decor purposes in new offices. High-paid consumers seldom think before buying such products for their homes.
Get a glance at the market contribution of various segments Download the PDF Sample
The wall art segment segment was the largest and was valued at USD 7.01 billion in 2018. A major share of the population in the region considers wall art to be an investment that gains value over time and hence is investing heavily in purchasing these items over other wall decor products. Factors such as the growing adoption of luxury products to meet social status are also expected to drive the growth of the US - wall decor market. Thus, the wall art segment is expected to witness an accelerating growth momentum and be the fastest-growing segment of the market during the forecast period.
The US Wall Decor Market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
|
US Wall Decor Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
149 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8% |
|
Market Growth 2024-2028 |
USD 10.53 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
7.8 |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Amazon.com Inc., Bed Bath and Beyond Inc., Brewster Home Fashions, Costco Wholesale Corp., Ethan Allen Interiors Inc., F. Schumacher and Co., Franchise Concepts Inc., Haverty Furniture Companies Inc., Kirklands Inc., Kohls Corp., Lowes Co. Inc., Macys Inc., Pier 1 Imports Online Inc., Restoration Hardware Inc., Target Corp., The Home Depot Inc., Transform Holdco LLC, Walmart Inc., Williams Sonoma Inc., and Wayfair Inc. |
|
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, and Market condition analysis for the forecast period. |
|
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 Application
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.