United States Home Decor Market By Product (Home Furniture, Home Textile), By Distribution Channel (Supermarkets And Hypermarkets, Specialty Stores), By Competitive Landscape And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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United States Home Decor Market Valuation – 2024-2031

The United States Home Decor Market is fueled by a confluence of factors, transforming the way people approach their living spaces. The market was valued at USD 201.22 Billion in 2023 and is expected to expand to USD 279.56 Billion in 2031, growing at a CAGR of 4.21% from 2024 to 2031.

An increase in the number of homeowners is being witnessed. This is leading to a greater need for furniture and decor items for the personalization of these spaces. Rising disposable income is another contributing factor. With more financial resources at their disposal, individuals can invest in non-essential items that enhance the comfort and aesthetics of their homes.

United States Home Decor MarketDefinition/ Overview

Home decor? It's way more than just picking out furniture. It's about turning a house into a home – a space that really feels like you. It's like telling your story without saying a word, using things you love. First step? Figure out what you actually need from each room. Think comfy sofas for chats and movie nights in the living room, you know? Good lighting can make all the difference, setting the mood. And don't forget storage! No one wants to live in clutter. Check out these ideas for staying organized. It's all about creating a space that feels good.

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How is the rise of smart home technology impacting consumer preferences for home decor?

Smart home tech is changing how we decorate our homes, in ways you might not even realize! It's affecting both how things work and how they look. One big thing is how it all integrates so seamlessly. Think about itsmart thermostats and lighting systems can hide away, so you don't need clunky control panels or messy wires. That creates a cleaner, more modern feel. Plus, with voice control, you don't even need to touch anything! This could mean we arrange our furniture differently, since we don't need to reach light switches. Maybe open floor plans will become even more popular, to make sure your voice can reach every corner.

Think about how much smart home tech is changing what we even want in a home! The focus on how things feel and look, that's all part of it. Take smart lightingyou can now tweak the color and brightness to set just the right mood for movie night or a romantic dinner. It's like having a million lamps in one, but way easier! Plus, these smart systems can automatically adjust the lights and temperature depending on the time of day or what you're up to. Who wouldn't want that? This awesome control over the temperature could even make us rethink our furniture and decor. Maybe we'll choose things that feel great, no matter the season. You know, I'm also noticing how minimalism and clean lines are becoming a thing. All these smart gadgets can do the job of so many different things, so why have a ton of appliances cluttering up the place? Less is more, right? And as all this tech gets even smarter, I bet we'll start wanting hidden spots to stash all the hubs and wires. The goal? Keep things sleek and clutter-free!

Think about how our decor is changing right along with our smart home tech. Your throw pillows might actually become "smart," maybe with little lights inside or even temperature controls! We could see more furniture and decorations designed to play nice with our smart systems. Plus, since smart homes are all about making things personal, we might start liking decor that's easy to move around and change up – like modular sofas – depending on our mood. Of course, these are just possibilities, and we'll see what people really want as smart homes get even smarter. Some will want everything totally connected, while others will still love the look of classic decor. Ultimately, the future of our homes will probably be a mix of cool features and great design, all thanks to what's happening with smart home technology.

What are the biggest barriers to consumer adoption of smart home technology in the U.S. home decor market?

Okay, so getting smart home stuff into American homes isn't as easy as you'd think. First off, the price! It's a real wallet-buster to turn your whole house into a smart house. All those hubs, sensors, and, you know, fancy smart decor? It adds up fast, especially if you're on a budget. And then there's the whole privacy thing. People are getting a little freaked out about having all these devices tracking what they do at home. The idea of some hacker getting into their system and seeing everything is a major turn-off, you know? That's a real concern for folks.

Let's be honest, smart home tech can be a real headache. Setting it all up? Forget about it if you're not a tech whiz! Installation can demand some serious skills, and figuring out all the apps and what they do isn't exactly a walk in the park. No wonder some people just give up before they even start adding smart stuff to their decor. And don't even get me started on compatibility! Why can't everything just work together? Trying to mix and match brands can feel like a puzzle with missing pieces. It really limits what you can do and makes it hard to create a smart home that actually flows and looks good. Plus, let's face it, some of this tech is still a little buggy. Things don't always work like they should, and that's frustrating. People worry about things breaking down or not working right, and that makes them think twice about buying in. Security is a big worry, too. Who wants to think about someone hacking into their lights or thermostat? That's a total dealbreaker for many. Then there's the look of it all. Some smart devices are just plain ugly and clash with everything you own. If you care about how your home looks, you're probably not going to want to stick a big, clunky gadget on the wall. Finally, a lot of people just don't know what's out there or what smart home tech can even do. More education and information would definitely help!

Category-Wise Acumens

How Does the Growing Demand for Low-Maintenance Home Furniture Driving the Market?

The home furniture segment is estimated to dominate the market during the forecast period. Furniture plays an essential role in establishing a functional and comfortable living environment. It serves as seats, sleeping surfaces, storage solutions, and work locations, making it an indispensable component in every home. Consumers are eager to invest in high-quality furniture that meets their demands and improves their living space.

Furniture is a more long-term investment than other home design products. Consumers expect furniture to last for several years. The emphasis on quality and longevity adds to a consistent demand for furniture products.

Furthermore, while furniture serves a utilitarian purpose, it also has a considerable impact on a home’s aesthetics. The home décor industry provides a diverse range of furniture types, from conventional to modern and everything in between. This allows customers to personalize their living environments and show their tastes through furniture selection. Trends in furniture design and functionality can impact customer purchasing, resulting in upgrades or replacements over time.

How Does the Specialty Store in the US Drive the Home Décor Market?

The specialty stores segment is estimated to dominate the market during the forecast period. Specialty stores sell a carefully curated selection of home design items, generally catering to specific styles or trends. This customized approach enables customers to achieve a coherent look in their houses. Also, specialty businesses usually have skilled staff that can provide expert advice and personalized recommendations, which improves the customer experience and influences buying decisions.

Furthermore, Specialty stores create visually appealing and stimulating shopping environments. They may feature furniture configurations, themed displays, and vignettes to help clients imagine how things would look in their own homes. This emphasis on design and ambiance results in a more interesting shopping experience than larger retail locations.

Gain Access to United States Home Decor Market Report Methodology

Country/Region-wise Acumens

Is there a growing interest in locally sourced or handcrafted home decor items in specific regions of the U.S.?

Hey, have you noticed more people are craving locally sourced and handcrafted home decor lately? It's popping up all over the place! It seems like everyone's after something special, something sustainable. People are really turning their backs on the usual mass-produced stuff, you know? They're after pieces that have a story, that fit in with the whole environmental and ethical thing. Plus, these locally made goodies often feel like they're better quality and have that cool "personal touch." And using materials from around here? It really helps bring that regional vibe into your home. You see it especially in places like the Pacific Coast, the Southwest, the Northeast, and the Southeast, anywhere with a thriving arts scene or a deep cultural history.

The growth of online marketplaces is making it easier for consumers to discover and purchase unique, handcrafted items from artisans across the country. Furthermore, a growing focus on sustainability is increasing the attractiveness of locally sourced materials with lower carbon footprints. Events showcasing local artisans also play a role by fostering connections between consumers and makers, allowing them to appreciate the craftsmanship behind the products. Challenges do exist, however. Local artisans might struggle to scale production to meet growing demand. Additionally, ensuring fair pricing and educating consumers about the value of handcrafted items remain important aspects of this trend.

Competitive Landscape

The United States Home Decor Market thrives on a dynamic interplay between established brands, emerging entrepreneurs, and a vast array of product categories. This vibrant landscape caters to the ever-evolving tastes and preferences of American consumers. Differentiation within this market is frequently achieved through innovative product design, strategic partnerships, and a focus on providing a comprehensive home decor experience. Companies that deliver high-quality furniture, stylish home textiles, and a curated selection of accessories are well-positioned to flourish in this flourishing industry.

Some of the prominent players operating in the United States Home Decor Market include

IKEA USA, ASHLEY FURNITURE, American Textile Systems, Acuity Brands Lighting Inc., Generation Lighting, Mohawk Flooring, Shaw Industries Group Inc., Mannington Mills Inc., Kimball International, Armstrong Flooring.

Latest Developments

  • In May 2024, 12 French brands showcased their home products to expand to the U.S. market. The exhibition, known as Art de Vivre à la Française, was organized by Business France and took place at the French Consulate in New York.
  • In January 2024, KEA U.S. announced that four Plan & order points with pickup locations will open across the country in 2024.

Report Scope

Report AttributesDetails
Study Period

2018-2031

Growth Rate

CAGR of 4.21% from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Product
  • Distribution Channel
Key Players
  • IKEA USA
  • ASHLEY FURNITURE
  • American Textile Systems
  • Acuity Brands Lighting Inc.
  • Generation Lighting
  • Mohawk Flooring
  • Shaw Industries Group Inc.
  • Mannington Mills Inc.
  • Kimball International
  • Armstrong Flooring
Customization

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United States Home Decor Market, By Category

Product

  • Home Furniture
  • Home Textile
  • Flooring
  • Wall Decor
  • Lighting and Lamps
  • Accessories
  • Other Home Décor Products

Distribution Channel

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online
  • Other Distribution Channels

Research Methodology of Market Research

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Reasons to Purchase this Report

We'll dig deep into the market, looking at the numbers (that's the quantitative stuff!) and the less obvious things that drive it, like consumer behavior (that's the qualitative!). We'll break it all down by segment, and tell you the market value in USD Billion for each one. Wondering where the growth is? We'll pinpoint the region and segment set to explode and which ones are already on top. Plus, we'll analyze each region geographically, looking at what people are buying and what's influencing their choices. Get the scoop on the competitive landscape, including who's on top, who's launching new stuff, partnering up, and expanding their business. We'll give you detailed company profiles with overviews, insights, product comparisons, and SWOT analyses of the big players. We'll also give you our take on the current and future market outlook, highlighting growth opportunities, drivers, challenges, and restraints in both emerging and developed regions. We'll even use Porter's five forces to give you a complete picture and a Value Chain analysis to show how it all connects. Expect a market dynamics scenario and a glimpse into the growth opportunities coming down the line. Oh, and you get 6 months of post-sales support from our analysts!

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