The wall decor market is expected to reach US$ 70.9 billion by 2027, up from US$ 58.2 billion in 2022. From 2013 to 2021, the market increased at a CAGR of 3.5 percent. In the overall home decor market, the wall décor market accounts for about 1% of the total.
2013-2021 Global Wall Decor Market Outlook Compared to 2022-2027 Forecast
During the forecast period, the market is expected to grow at a CAGR of around 4.0 percent, owing to shifting consumer lifestyle preferences and an increase in influence across developing countries.
The worldwide sector’s trends are continually changing, particularly in the case of public space interiors and the hotel business. Consumers are quite concerned about how the interiors of their homes should look, even in the domestic sector. As a result, new trends and features that cater to the needs of target clients have been introduced to the market.
The Adoption of Nature-inspired Patterns for Interior Decoration of Homes is setting new Trends
The market has taken a more nature-inspired approach in recent years, incorporating warm and natural elements into earthen luxury components, particularly in the home and hospitality sectors. Consumers nowadays want materials that are drawn from nature. The use of nature-inspired motifs in the décor gives the space a warm and inviting feel.
Wall-mounted shelves, for example, are generally made of wood, which gives them a natural and attractive appearance on the wall. The introduction of hand-crafted and repurposed furniture for interior design is another industry trend.
Wall Decor Market Competitive Landscape
To develop their business globally, leading companies in the global market are focusing on product launches based on product innovation, new designs, and other methods.
Consider the following example:
- In 2021, Paragon Décor Inc. will introduce new items.
- In 2018, Kohl’s Illinois Inc. announced a strategic partnership with the Scott brothers, as well as the launch of an exclusive home lifestyle collection, Scott Living at Kohl’s, for fall 2019, expanding Kohl’s product assortment in-home and enhancing the company’s powerful brand portfolio.