The luxury interior design market is expected to reach around US $ 207 billion in 2027 – Credence Research

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The demand for luxury home decor products is expected to grow from $ 118 billion in 2020 to over $ 207 billion in 2027, with a CAGR of over 5.14%.

The Global Luxury interior decoration Market generated around USD 118 billion in revenue in 2020 and is expected to grow at a CAGR of over 5.14% during the forecast period of 2021 to 2027 to reach around USD 207 billion in 2027. While the cumulative growth opportunity presented by the global luxury home market Decor represents approximately US $ 1,276 billion from 2021 to 2027.

Global Luxury Interior Design Market, 2020-2027 (USD Million)

Interior decoration consists of everything that makes a house more elegant and aesthetic while having certain objectives for its inhabitants. Home decor products include a variety of items that people buy to decorate their homes. These include rugs, rugs, vases, shelves, clocks, napkins, candles, mirrors, light fixtures, flooring, paintings, murals, ornaments, crystals, etc. .

Browse the full report at https://www.credenceresearch.com/report/luxury-home-decor-market

Home textiles to grow at a rapid rate

Furniture, home textiles, and flooring are the main types of luxury home decoration. Among all, the furniture segment held the largest share of the global luxury home decoration revenue generation in 2020. While home textiles are expected to be the fastest growing segment of the global luxury home decorating industry. luxury home decoration. On the other hand, flooring is also expected to gain importance during the forecast period.

Online retailing to grow

Supermarkets and hypermarkets, specialty stores, e-commerce and others are some of the important distribution channels in the global luxury interior decoration market. Supermarkets and hypermarkets are a leading distribution channel for luxury interior design with over 35% market share in 2020. However, the online channel will show attractive growth during the forecast period.

Major players focus on brand value

Inter IKEA Systems BV, Forbo International SA, Armstrong World Industries, Inc., Mannington Mills Inc., Mohawk Industries Inc., Shaw Industries Group, Inc., Herman Miller Inc., Ashley Furniture Industries Ltd., Kimball International, Duresta Upholstery Ltd . ., Marks & Spencer, Gucci and Hermes are among the major players in the global luxury interior design market. Most of the players strive to offer high quality products in order to maintain their brand identity. They also strive to make their products less vulnerable to counterfeit products.

China and India to grow at a rapid rate

China, India, Japan and South Korea are the most promising markets for the global luxury interior design industry. China dominates the Asia-Pacific market with over 40% of regional revenues. As Europe dominates global income generation. At the same time, the United States is the most important market with the highest contribution to the revenues of the luxury interior design industry. Egypt, GCC countries, Brazil, Singapore and Taiwan are also gaining a growing share in the global luxury interior design industry.

Market segmentation

Global Luxury Interior Design Market by Type, 2015 – 2027

  • Furniture
  • Home textiles
  • Flooring

Global Luxury Interior Design Market by Distribution Channel, 2015 – 2027

  • Supermarkets & Hypermarkets
  • Specialty stores
  • E-commerce
  • Others

Global Luxury Interior Design Market by Company, 2015 – 2027

  • Mark & ​​Spencer
  • Gucci
  • Hermes
  • Inter IKEA Systems BV
  • Forbo International SA
  • Armstrong World Industries, Inc.
  • Mannington Mills Inc.
  • Mohawk Industries Inc.
  • Shaw Industries Group, Inc.
  • Herman Miller Inc.
  • Ashley Furniture Industries Ltd.
  • Kimball International
  • Duresta Furnishing Fabrics Ltée.
  • Others

Browse the full report at https://www.credenceresearch.com/report/luxury-home-decor-market

Blog: The luxury interior design market is expected to grow at a CAGR of 5.14% during the forecast period

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