The Business Research Company’s report on the Decorative Accessories Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the decorative accessories market in recent years?
The rising home renovation and remodeling activities are expected to propel the growth of the decorative accessories market going forward. Home renovation and remodeling activities refer to the process of improving, restoring, or modifying residential spaces to enhance their functionality, aesthetics, and value. The increasing demand for home renovation is due to the need to create personalized and functional living spaces, providing homeowners with a sense of satisfaction and control over their environment. Decorative accessories enhance home renovation and remodeling by adding personality, style, and cohesion to spaces, seamlessly tying together architectural elements, color schemes, and furniture for a polished, inviting look. For instance, in March 2024, according to Houzz, a US-based home remodeling and design platform, renovating homeowners’ spending on home improvement surged in the past three years, with median remodeling costs rising 60% from $15,000 to $24,000 in 2023. In 2023, 51% of homeowners spent $25,000 or more on renovations, up 37% from past three years. Therefore, the rising home renovation and remodeling activities are driving the growth of the decorative accessories market.
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What is the projected market size of the decorative accessories industry, and how is it expected to grow?
The decorative accessories market size has grown strongly in recent years. It will grow from $76.78 billion in 2024 to $82.34 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the rise in home renovations, increase in disposable income, growth in urbanization, expansion of e-commerce, and rise in real estate investments.
The decorative accessories market size is expected to see strong growth in the next few years. It will grow to $107.75 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to growing hospitality sector demand, rising home decor awareness, rising demand for smart décor, growing influence of social media, and rising popularity of minimalist design. Major trends in the forecast period include smart home integration, augmented reality integration, ai-driven home decor suggestions, 3d printed décor, and adoption of virtual showrooms.
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Who are the key players driving competition in the decorative accessories market?
Major companies operating in the decorative accessories market are Berkshire Hathaway Inc., The Home Depot Inc., Lowe’s Companies Inc., General Electric Company, Inter IKEA Holding B.V., H&M Home, Koninklijke Philips NV, Ashley Furniture Industries Inc., Wayfair Inc., Mohawk Industries Inc., Williams-Sonoma Inc., Bed Bath & Beyond Inc., Urban Outfitters Inc., MillerKnoll Inc., Zara Home, Pottery Barn, Rooms To Go Inc., Euromarket Designs Inc. (operating as Crate & Barrel), At Home Group Inc., Forbo Holding AG
What key trends are expected to drive the data diode market during the forecast period?
Major companies operating in the decorative accessories market are focusing on developing innovative theme-based decoration, to cater to evolving consumer preferences for personalized and aesthetically appealing home interiors. Theme-based decoration focuses on decorating spaces with a unifying concept or style for a harmonious look. For instance, in August 2022, At Home Group Inc., a US-based home décor superstore company, launched Honeybloom, a private-label modern farmhouse home décor line. The collection includes furniture, rugs, wall décor, and seasonal items and are designed to evoke warmth and togetherness, emphasizing a lived-in yet stylish aesthetic. The brand aligns with At Home’s mission of offering exclusive designs at competitive prices across its 250+ stores.
Which key geographies are driving the growth of the decorative accessories market?
North America was the largest region in the decorative accessories market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative accessories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the decorative accessories market?
The decorative accessories market covered in this report is segmented –
1) By Product Type: Lamp And Lighting, Pottery And Vases, Home Décor, Pillows, Rugs, Other Product Types
2) By Material: Metal, Wood, Glass, Ceramic, Fabric, Other Materials
3) By Distribution Channel: Hypermarkets And Supermarkets, Specialty Stores, Departmental Stores, Online, Other Distribution Channels
4) By Application: Residential, Institutions, Corporate Offices, Malls, Other Applications
Subsegments:
1) By Lamp And Lighting: Table Lamps, Floor Lamps, Chandeliers, Pendant Lights, Wall Sconces, LED Decorative Lights
2) By Pottery And Vases: Ceramic Vases, Glass Vases, Metal Vases, Stoneware Pottery, Terracotta Pottery, Porcelain Vases
3) By Home Décor: Wall Art, Clocks, Mirrors, Figurines and Sculptures, Decorative Trays, Candle Holders
4) By Pillows: Throw Pillows, Floor Cushions, Outdoor Pillows, Bolster Pillows, Decorative Pillow Covers
5) By Rugs: Area Rugs, Runner Rugs, Outdoor Rugs, Handmade Rugs, Machine-Made Rugs, Shag Rug
6) By Other Product Types: Picture Frames, Decorative Bowls, Artificial Flowers and Plants, Seasonal Decorations, Bookends, Wind Chimes
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What defines the structure and scope of the decorative accessories market?
Decorative accessories are items used to enhance the aesthetic appeal of a space, including vases, candles, artwork, and sculptures. They are used to add personality, style, and ambiance to homes, offices, and event settings.
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