Global Home Accessories Market Overview:
Home accessories are also known as decor which can be considered as movable decoration. It reflects the owner's taste and choice of lifestyles as well as create a personal atmosphere of the places or spaces they wanted to live in. These items are able to break the boundaries of the traditional decoration industry, such as by using handicrafts, textiles, and other things such as floral items, lamps, and plants, in order to re-live into a new concept. These vary according to their size and shape of the room space, the owner's living habits, hobbies, tastes, and the financial situation of individuals. Thus with the rising number of spaces coupled with people's interest in decoring the homes id driving the market.
As per latest study released by AMA Research, the Global Home Accessories market is expected to see growth rate of 6.4%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Rising Adoption of Antique Home Decors and Accessories, Rising Trend of Vintage Look at Homes and Adoption of Online Home Accessories Products as a Medium of Shopping
Market Growth Drivers:
Increasing Home Spaces in both Developed and Developing Countries, Rising Interest of People Towards Interior Decorations and Cumulating Levels of Disposable Incomes among the People
Challenges:
Increasing Cost of Raw Materials and Increasing Rate of Urbanization
Restraints:
High Cost Associated with these Products and Concern Related to their Ductility and Fragility
Opportunities:
Growing home spaces in Developing Economies are Considering a Major Growth and Rising Demand for Furniture and Fixtures as well as Upholstery Products
Competitive Landscape:
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market shortly. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Some of the key players profiled in the report are Inter IKEA Systems B.V (Netherlands), Kimball International Inc. (United States), Ashley Furniture Industries Inc. (United States), Herman Miller, Inc (United States), home24 (Germany), Hanssem Corporation (United States), Conair Corporation (United States) and Suofeiya Home Collection Co., Ltd. (China). Additionally, following companies can also be profiled that are part of our coverage like Springs Window Fashions LLC (United States) and Otto (GmbH & Co KG) (Germany). Analyst at AMA Research see Global Vendors to retain maximum share of Global Home Accessories market by 2030. Considering Market by Distribution Channel, the sub-segment i.e. Online will boost the Home Accessories market. Considering Market by Consumer Segment, the sub-segment i.e. Premium Customers will boost the Home Accessories market. Considering Market by Decoration Type, the sub-segment i.e. Traditional Decorations will boost the Home Accessories market.
Latest Market Insights:
In April 2023, IKEA launched a new line of sustainable home decor products, including furniture made from recycled materials and textiles made from organic cotton.
February 2019, Inter IKEA Systems B.V. has launched space-saving shelves under its IVAR storage system product line. The product is manufactured particularly for small space dwellers.
What Can be Explored with the Home Accessories Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Home Accessories Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Home Accessories
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Home Accessories market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Home Accessories market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Potential Investors, Up and Down Stream Vendors, Suppliers and Distributors, End-User and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.