Portland, OR, Aug. 30, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global DIY home décor market garnered $240.64 billion in 2021, and is estimated to generate $372.06 billion by 2031, manifesting a CAGR of 4.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022 - 2031 |
| Base Year | 2021 |
| Market Size in 2021 | $240.64 billion |
| Market Size in 2031 | $372.06 billion |
| CAGR | 4.7% |
| No. of Pages in Report | 339 |
| Segments covered | Type, Income Group, Price Point, Distribution Channel, and Region. |
| Drivers | Increase in consumer interest toward home décor |
| Rise in urbanized population | |
| Rapid adoption of online sales channels | |
| Opportunities | Increase in disposable income of consumers |
| Improvement in lifestyle | |
| Rise in social media marketing | |
| Restraints | Rise in cost of raw materials |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global DIY home décor market, owing to the implementation of global lockdown which resulted in the temporary closure of production facilities, especially during the initial period.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- However, manufacturers focused more on social media advertisement to reach a large consumer base. Also, a rise in penetration of online sales channels boosted the growth of the market.
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The research provides detailed segmentation of the global DIY home décor market based on type, income group, price point, and distribution channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the floor covering products segment held the highest share in 2021, accounting for more than one-third of the global DIY home décor market, and is expected to continue its leadership status during the forecast period. However, the home textile segment is expected to register the highest CAGR of 5.8% from 2022 to 2031. The report also analyzes furniture segment.
Based on price point, the mass segment accounted for the highest share in 2021, contributing to more than half of the global DIY home décor market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the premium segment is expected to manifest the highest CAGR of 5.5% from 2022 to 2031.
Based on distribution channel, the specialty stores segment accounted for the highest share in 2021, holding more than two-fifths of the global market, and is expected to continue its leadership status during the forecast period. However, the e-commerce segment is estimated to grow at the highest CAGR of 6.3% during the forecast period. The report also analyzes segments including supermarkets & hypermarkets, and others.
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Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly one-third of the total market share, and is projected to maintain its dominancein terms of revenue in 2031. In addition, the North America region is expected to manifest the fastest CAGR of 5.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global DIY home décor market analyzed in the research include Forbo International SA, Herman Miller Inc., Inter IKEA Systems BV, Kimball International, Mannington Mills Inc., Mohawk Industries Inc., OVERSTOCK.COM, INC., Shaw Industries Group, Inc, TARGET CORPORATION, Armstrong World Industries, Inc., Ashley Furniture Industries Ltd., Duresta Upholstery Ltd., WALMART INC., WAYFAIR INC, Williams-Sonoma, Inc.
The report provides a detailed analysis of these key players of the DIY home décor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
