North America and Europe Home Decor and Accessories Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type and Price Point : Opportunity Analysis and Industry Forecast, 2021-2030

The North America and Europe home decor and accessories market was valued at $230,783.2 million in 2020, and is estimated to reach $375,664.8 million by 2030, registering a CAGR of 4.8% from 2021 to 2030. Increase in population density in metro cities has been majorly driving the growth of the North America and Europe home decor and accessories market. People are majorly migrating from rural areas to metro cities in the search of job opportunities and staying there lifelong. This migration creates huge opportunities for real estate, where various home decor products are required. Various home decor include furniture, kitchenware, bathroom storage & accessories, serveware, and others. Surge in urbanized population creates huge demand for home decor as people living in metro cities are considerably seeking for high standard of living. Furthermore, growth in urbanization has resulted in more spending power of consumer on products which shows their good social status and wealth. In addition, changing lifestyle of individuals along with raising consumer desire to reveal social status by a greater home decor products availability will further create a huge demand for home décor and accessories products market.

There is an increase in the number of social media users owing to rise in internet penetration. Moreover, social media usage growth from 2019 to 2020 in North America has increased to +6.96% and in Europe +4.32%. Considering this, most of the key players in the home decor market strategize on promoting their products and services on these social media platforms such as Facebook, Instagram, YouTube, and others. Social media marketing is one of the major strategies adopted by various companies and industries on imparting awareness about their product offerings among target customers on social media channels. Thus, the North America and Europe home decor and accessories market sights critical opportunity in gaining traction and increases the customer reach among its target segments, through social media marketing strategy.

The North America and Europe home decor and accessories market is segmented into product type, and price point. On the basis of product type, the market is divided into kitchen & dining, bedding, bath, and decor. As per price point, it is categorized into mass and premium. Region wise, it is studied across North America and Europe.

By product type, the kitchen and dining segment dominated the market in 2020, and is expected to retain its dominance throughout North America and Europe home decor and accessories market forecast period. Surge in urbanization, increase in number of households, and rise in disposable income are some of the prominent factors that boost the growth of the kitchen and dining market.

By price point, the North America and Europe home decor and accessories market is divided into mass and premium. Mass segment lead in terms of market share and is expected to continue to grow with robust CAGR during the forecast period. By region, North America accounted for highest market share in 2020, and is expected to grow at a CAGR of 4.3%.

The players in the North America and Europe home decor and accessories market have adopted acquisition as their key development strategy to increase profitability and to strengthen their foothold in the North America and Europe home decor and accessories market share. In addition, players have relied on product launch to improve their product portfolio and stay competitive in the global market. The key players profiled in the North America and Europe home decor and accessories industry include Bed Bath & Beyond Inc., Amazon.com, Inc., Cymax Group Technologies Ltd., Inter IKEA Holding B.V., Overstock.com, Inc., Target Corporation, Walmart Inc., Wayfair Inc., Williams-Sonoma, Inc. and SHEIN.

Covid-19 Impact Analysis

• COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December 2020.
• The global coronavirus pandemic has created a number of challenges for exporters in the developing and developed countries. The challenges witnessed by the exporters of North America and Europe home decor and accessories market products are likely to remain for the foreseeable future, as different states and governments around the world attempt to tackle COVID-19 with various measures.
• Owing to the outbreak of the COVID-19 pandemic, manufacturers have increased online sale of home decor and accessories products to reach a large consumer base.
• Implementation of curfew and the practice of maintaining social distancing globally affect the domestic as well as international production, which in turn, hampers the growth of the overall market.
• Import and export restrictions on goods and quarantine and lockdown measures imposed by governments are key challenges exporters are facing during this pandemic.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the North America and Europe home decor and accessories market analysis from 2020 to 2030 to identify the prevailing market opportunities.
• The market research is offered along with information related to key drivers, restraints, and North America and Europe home decor and accessories market opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the North America and Europe home decor and accessories market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the market industry.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the North America and Europe home decor and accessories market trends, key players, market segments, application areas, and North America and Europe home decor and accessories market growth strategies.

  North America and Europe Home Decor and Accessories Market Report Highlights