NEWARK, Del, Nov. 09, 2022 (GLOBE NEWSWIRE) — The global wall décor market is estimated to grow at a stagnant CAGR of around 4.0% during the forecast period from 2022 to 2027. The global market is estimated to reach US$ 58.2 Bn in 2022 and surpass a valuation of around US$ 70.9 Bn by 2027. According to Future Market Insights’ historical estimations, the global wall décor market registered a CAGR of 3.5% from 2013 to 2021. The wall décor market holds a share of nearly 1% in the overall home decor market.
As per the analysis done by FMI, the variation between the BPS values observed in the wall decor market in H1, 2022 – Outlook over H1, 2022 Projected reflects a growth of 60 units. However, compared to H1, 2021, the market is expected to spike by 66 bps in H1 -2022. The growth in the global wall decor market is attributed to transitioning lifestyle preferences of consumers along with the rise in influence across developing countries.
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Future Market Insights showcase a comparison and review analysis of the dynamics of the wall décor market which is expected to principally be subjected to an array of industry factors combined with certain definite influences regarding viewpoints that support industry innovation. Some new advances that have taken place in the market include innovation by coming up with several new products in the market. The prominent companies operating within the market offer several premium-class wall décor products with a combination of unique designs that is predicted to attract a higher number of consumers towards the products.
The wall décor market is expected to witness an upsurge as it is attributed as a possible pocket-accommodating method for restoring the insides of a structure. Owing to the great possibility in the market that allows the customer to modify and customize the product according to their desires is driving the volume of sales. Moreover, the customer’s financial ability, structure renovation, or construction of new buildings directly intends to affect the sales.
- Over the recent years, the global wall décor market has adopted a more nature-inspired approach by incorporating natural and warm elements in the designs in order to earthen luxury components, specifically in the household and the hospitality sectors. In the present era, customers are seeking materials that are derived from nature. The adoption of nature-inspired patterns for décor makes the space look authentic and spacious.
- The prevalence of wall-mounted shelves is increasing which are also derived from wood and make them appear natural and pleasant on the wall. Another trend witnessed in the market is the advent of hand-crafted and recycled furniture for interior designing.
- Another trend that has recently gained immense popularity is the usage of earthy colors. Various types of décor products, such as shelves, wall hangings, frameworks, mirror works, and metal works, impart softer pastels and earthy tones. The market has witnessed the usage of various earthy colors such as soft greens, browns, and taupe. Purple is also among the trending natural and earthy colors.
- Due to the increasing interior designs and shifting consumer preferences for several wall décor products such as wall hangings made of wood, fabric & textile, significant growth in the global wall décor market has been witnessed over the assessment period.
- The rising trends within the global industry are dynamic and constantly changing per the latest trends, especially in the case of the interiors of public places along with the healthcare industry. Even within the housing sector, consumers are very particular about how they want the interiors of their homes to look. As a result, the market has been witnessing the introduction of new trends and features, which cater to the needs of target customers.
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Prominent market players are focusing on the global industry and are concentrating on product launches based on product innovation and new designs along with several other strategies in order to expand their business globally.
More Insights into the Wall Decor Market
The U.S. is anticipated to dominate the North American region by exhibiting a growth rate of over 2.6% over the forecast period. The population of the U.S. constitutes individuals who have a major inclination towards products that are manufactured using innovative and modern machinery that makes the products easy to install and maintain. Furthermore, the individuals in the country believe in the concept of DIY projects and therefore, the vast product portfolio of the market constitutes the various product ranges that are expected to bolster growth in the U.S. market.
Global Wall Decor Market by Category
By Product Type:
- Wall Stickers
- Frame Works
- Mirror Works
- Metal Works
By Base Material:
- Fabric & Textile
By End Use:
- Salon & Spa
- Offices & Showrooms
- Educational Institutes
- Spiritual Institutes
By Sales Channel:
- Wholesalers/ Distributors
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Others (Club Stores, Gift Shops)
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends In the Market
3.2. Product Innovation Trends
3.2.1. Development of Technology in Production
3.2.2. Companies Increasingly Spending on R&D and Stepping Up Innovation
3.2.3. Growing Consumer Interest in Multifunctional Products
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