Farmington, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Wall Decor Market size is estimated at US$ 58.2 Billion in 2022, at a CAGR of 3.5% In the Forecast Period From 2023 to 2030. Wall decor is an easy and cheap way to change the look of a room. People want more personalised and unique wall decorations, so the market for them is growing. The fact that there are high-quality products on the market is helping it grow. Customers' ability to pay and the number of newly built or remodelled homes have a direct effect on the growth of the wall décor market. Murals and frames can be put on walls to make homes and offices look different. Wall decorations are becoming more popular in both businesses and homes, which is making the market for them grow.
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Recent Developments:
- In 2021, Paragon Décor Inc. said that new products would be coming out. Also, the company tries to keep making products that are on trend and keep putting out seasonal lines with new designs.
- In 2018, Kohl's Illinois Inc. announced a strategic partnership with the Scott brothers and the launch of an exclusive home lifestyle collection, Scott Living at Kohl's, for fall 2019. This will add to Kohl's home products and strengthen the company's strong brand portfolio.
Segment Overview
Product Type
With a CAGR of more than 2.4%, wall stickers are likely to have a big share of the market in terms of the type of product. This is likely because wall stickers are less expensive than other things. Also, putting up wall stickers doesn't hurt or change the wall much.
Base Material
Fabric and textile base materials are expected to make up more than 25% of the market, according to the analysis. Customers like these products because they look better, have more depth, and come in many different kinds. Also, these materials tend to replace the time and money spent painting walls, and they are easy to clean and keep in good condition. Also, each customer gets something unique, which makes fabric and textile wall decor even more popular.
End Use
When it comes to end use, commercial areas have the most effect on the industry. This is because more and more people want their restaurants, offices, and other places to look nice. Also, the construction industry is growing and changing, which gives the market a lot of good chances.
Sales Channels
With a CAGR of 4.2% over the next few years, online retailing is expected to have high growth in sales. The spread of 4G and 5G services around the world and the fast growth of new ideas are likely to increase sales of home decor items on the market.
Regional Outlook:
North America has the biggest market share for wall decorations. It makes up more than 40% of the total market revenue around the world. Most of the reason why the North American wall decor market is growing is because the home decor industry is growing. In the next few years, the U.S. is likely to have the biggest market for wall decorations in North America. The market for wall decorations in North America is also growing because people are spending more and more money on designer wall decorations.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.5% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 58.2 Billion |
| By Product Type | Shelves, Wall Stickers, Hangings, Frame Works, Mirror Works, Metal Works, Others |
| By End-use | Residential, Commercial, Others |
| By Base Material | Wood, Fabric & Textile, Plastic, Glass, Metal, Others |
| By Component | Hardware, Software, Others |
| By Sales Channel | Wholesalers/ Distributors, Hypermarkets/ Supermarkets, Specialty Stores, Multi-brand Stores, Online Retailers, Others |
| By Companies | Paragon Décor Inc., PTM Images, Artissimo Designs, Green Front Furniture, Surya Inc., Neiman Marcus, Kohl’s Illinois Inc., Crate and Barrel, Scandiamoss Inc., Studio McGee LLC, Stratton Home Décor, Northern Oaks Décor Co, Bubola & Naibo s.r.l., Ashleley Furniture Industries, Inter Ikea Systems B.V. |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Drivers:
People around the world drink Wall Decor more than any other drink. The Wall Decor market is big in North America. Nearly 71% of people in the US use Wall Decor every day. In Europe, the Wall Decor market is growing because people are buying more specialty Wall Decor and methods that only need to be used once. The International Wall Decor Organization (ICO) says that in February 2020, the world exported 11.11 million bags of wall decorations, which is up from 10.83 million in February 2019. In one year, this is a gain of 2.6%. According to the most recent data from the International Wall Decor Organization (ICO), Europe was the biggest market for wall decorations in the world. People also buy a lot of Wall Decor in Asia-Pacific and North America, which are also important places.
Restraint:
Wall art is one of the things that people buy and sell the most. Both countries that make it and countries that don't are using wall decor more and more. But it's hard to deal with the fact that there aren't enough Wall Decor items to meet the rising demand. When the weather changes, the amount of Wall Decor that can be made also changes, which makes price changes even bigger. The plant disease called "Wall Decor rust" or "la roya," which is caused by a fungus that attacks the leaf and kills the branch and the Wall Decor cherry, tends to spread when the temperature goes up. So, plant diseases, pests, and flaws make it hard for the market to get enough Wall Decor beans. Prices go up because there is a difference between what people want and what is available.
Opportunity:
Organic wall art is becoming more and more popular. Most of this growth is due to changes in technology, competition, and new ways of marketing, especially in places where there is a lot of competition. People all over the world are also becoming more worried about their health, which has led them to prefer organic foods. People have been more likely to buy organic wall decor, which is made without using any chemicals made by humans, like most pesticides, herbicides, and fertilisers. Organic Wall Decor is becoming more popular because it is good for your health and doesn't have any toxins left over from synthetic fertilisers, herbicides, pesticides, artificial flavours or colours, or preservatives. People also think that organic Wall Decor is good for the environment because no chemicals are used to make, process, or package it, so it doesn't hurt the environment.
Key Segments Covered:
Top Market Players:
Paragon Décor Inc., PTM Images, Artissimo Designs, Green Front Furniture, Surya Inc., Neiman Marcus, Kohl’s Illinois Inc., Crate and Barrel, Scandiamoss Inc., Studio McGee LLC, Stratton Home Décor, Northern Oaks Décor Co, Bubola & Naibo s.r.l., Ashleley Furniture Industries, Inter Ikea Systems B.V., and others.
By Product Type
- Shelves
- Wall Stickers
- Hangings
- Frame Works
- Mirror Works
- Metal Works
- Other
By Base Material
- Wood
- Fabric & Textile
- Plastic
- Glass
- Metal
- Others
By End Use
- Residential
- Commercial
- Hospitality
- Salon & Spa
- Offices & Showrooms
- Restaurants
- Educational Institutes
- Spiritual Institutes
- Others
By Sales Channel
- Wholesalers/ Distributors
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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