18 Memorable Home Decor Industry Statistics for 2023

Are you looking for the most up-to-date home decor industry statistics? Luckily for you, we have scrounged the web to bring you the latest stats and facts.

In this article, you’ll learn about the global home decor market in 2022, its hottest trends, consumer habits, and interesting trivia. Also, we answered all of your frequently asked questions at the end.

So, if this sounds like something that might interest you, let’s start.

Top 10 Home Decor Statistics

• Global home decor market was worth $616.6 billion in 2019.
• Global home decor market is forecast to grow at a 3.9% CAGR by 2027.
• Luxury furniture market is expected to grow at a 4.7% CAGR by 2026.
• China is projected to grow at a  3.7% CAGR by 2027.
• Home decor trends show the US market hit $125.8 billion in 2019.
• Ecommerce homeware revenue in the US hit $52.62 billion in 2020.
• The US online home furnishing industry grew at 7.6% (2015–2020).
• Global online home decor market is projected to hit $83.32bn by 2024.
• Furniture ecommerce retailers had 1.7bn global visits in March 2020.
• The Asia-Pacific market is projected to grow at a 3.2% CAGR by 2027.

General Home Decor Market Trends

If you’re interested in the home decor industry, the first thing you need to familiarize yourself with are the current trends. Let’s begin!

1. How big is the home decor industry? The global home decor market was worth $616.6 billion in 2019.

(Allied Market Research)

Moreover, by 2027, the global market for this industry is projected to hit $838.6 billion. Products in the home decor category include different items, like furniture, floor coverings, and home textiles.

2. What is the CAGR of the home decor market? From 2020 to 2027, the global home decor market is forecast to grow at a 3.9% CAGR.

(PR Newswire)

The floor coverings sector of the worldwide home decor market accounted for a substantial revenue share in 2019. In fact, it’s projected to rise at a 4% CAGR over the forecast period.

3. Home decor industry statistics for 2022 reveal that the market is dominated by Asia-Pacific, which is projected to grow at a 3.2% CAGR by 2027.

(Allied Market Research)

In 2019, North America led the home decor market, thanks to the region’s highly developed retail structure.

Nevertheless, the Asia-Pacific market is expected to grow at the fastest CAGR during the forecast period due to increasing retail infrastructure changes.

4. In 2019, the home decor market size in the US was valued at $125.8 billion.

(Allied Market Research)

Surprisingly, by 2027, the US home decor market is expected to hit $158.9 billion—this means that the US market is likely to grow at an 8% CAGR from 2020 to 2027.

Specifically, the floor covering sector is projected to rise at an 8.4% CAGR over the forecast period.

5. Facts on the luxury home decor market show that the luxury furniture market is expected to grow at a 4.7% CAGR between 2016 and 2026.

(Mordor Intelligence)

According to this report, Europe is both the largest and the fastest-growing market for the luxury furniture industry.

Interestingly, this market is experiencing an increase in interest when it comes to premium furniture items created from high-quality wood such as alder or mahogany.

6. During the 2020–2027 period, India and China are projected to grow at a 3.4% and 3.7% CAGR, respectively.

(Allied Market Research)

Based on the state of the home decor market in 2020, the market in these two countries is expected to grow in the upcoming period.

This is mainly due to the improvements in living conditions and disposable income growth.

7. Inter IKEA Group is one of the home decor market’s key active players.

(PR Newswire)

According to home decor trends for 2020–2027:

• Forbo International SA
• Mannington Mills, Inc.
• Ashley Furniture Industries Ltd.
• Armstrong World Industries, Inc.
• Mohawk Industries, Inc., and
• Herman Miller, Inc.

are other active players in the market.

8. One of the leading home decor industry trends is the growth of global urbanization.

(Allied Market Research)

Furthermore, the development of the real estate industry and the increase of raw material costs are other significant trends in the home decor market between 2020–2027.

Ecommerce Home Decor Statistics

Ecommerce is booming, especially now amidst the coronavirus pandemic. As more and more people are trying to avoid social contact, online shopping’s popularity is growing.

So, let’s see what the stats say on the ecommerce and home decor industry during the covid pandemic.

9. Retail ecommerce revenue from homeware and furniture sales in the US amounted to $52.62 billion in 2020, market trends for home decor note.

(Statista)

As a side note, this figure stood at $45.98 billion the year before.

Most recently, home furnishing and furniture sales accounted for 12.3% of overall retail ecommerce sales in the US.

Moreover, it’s estimated the ecommerce sales will hit $61.21 million by 2025.

10. In the US, the online home furnishing industry grew at an average of 7.6% between 2015 and 2020.

(IBIS World)

Did you know that in 2016, there were a whopping 209.6 million digital buyers in the United States?

The U.S. home decor industry statistics for 2020 note that the market size of the online home furnishing industry in the States was $9 billion.

Also, there were 30,054 businesses in the US in this category, with 64,244 workers.

11. The global online home decor market is expected to grow by $83.32 billion between 2020 and 2024, based on online home decor purchase statistics.

(Business Wire)

Based on this figure, the online home decor market is projected to rise at a nearly 13% CAGR during 2020–2024.

Moreover, this report by Technavio notes that the leading players in the market are Bed Bath & Beyond, Inc., Home24 SE, and Lowe’s Companies, Inc.

12. In March 2020, ecommerce retailers selling furniture and home decor received 1.7 billion global visits.

(Statista)

It’s true—in 2019, 10.7% of the total retail sales in the US were generated by ecommerce. So, the following figures are not as shocking as one might think.

According to home decor industry statistics for 2020, this figure grew from 1.56 billion global visits since January that same year.

Overall, furnishing and home decor platforms have experienced a significant 7% worldwide traffic increase between January and March that year.

Fun Facts About Home Decor

Last but not least, we feature the most amusing and even surprising facts we could find on home decor. Let’s have fun together.

13. Elsie de Wolfe was the first decorator in America, according to the available home decor facts.

(Architectural Digest)

If you wondered who started the decorating trend in the US, then here’s your answer: Elsie de Wolfe, the actress.

She became a professional decorator in 1905 and the author of a book titled “The House in Good Taste.”

Even though her style is outdated for modern times, her ability to create a brighter and more comfortable home remains uplifting.

14. Natural decor may improve the microclimate of your home, interesting beneficial facts about home decor note.

(Wellcome Home)

When shopping for home decor, we suggest always going for natural-made materials rather than artificial ones. Two of the reasons for this are that natural materials are more environmentally friendly and more durable.

According to recent home decor industry statistics, you should keep your eyes peeled for wood, brick (made from clay), metal, and stone.

15. 85% of British men claimed that they were actively involved in their home’s interior design, according to survey results.

(Ideal Home)

Based on home decor fun facts by Graham & Brown, 47% of men in Britain believe that they have a better sense of style than their significant other.

So, does this mean that men are stepping up their game in home decoration? Yes, they are slowly getting there.

16. Surprisingly, 47% of British men claim that they shop for scented candles regularly, the same survey results show.

(Ideal Home)

Yes, that’s correct—and 54% of British men shop for cushions.

Moreover, home decor industry statistics show that 47% of men claim to have bought pot plants to add a dose of color to their homes.

Other favorite purchases by these survey participants included fresh flowers and artwork.

17. The snake plant, the Monstera deliciosa, and the pothos are among the best air-purifying plants to use as home decor.

(Women’s Health Mag)

Are you looking for a plant that not only looks good as home decor but also serves the purpose of making the air quality in your home better?

If so, trends on home decor suggest that you should check out the snake plant, Monstera deliciosa, pothos, Dracaena, and Zanzibar gem.

However, keep in mind, none of these are pet-friendly.

18. Floral wallpaper and bold monochromatics were the hottest trends in home decor in 2020.

(Elle Decor)

This year, it’s all about smart homes for tech-savvy people. Last year, it was all about monochromatics and floral wallpapers.

Whether you are looking for millennial home decor trends or those relating to baby boomers—these trends are universal for all generations!

Last year, dark painted doors were trendy, while standard white doors were out. Similarly, performance fabrics were all the rage in 2020, while granite countertops weren’t.

FAQ

How much is the home decor industry worth?

In 2019, the global home decor market was worth $616.6 billion and was projected to hit $838.6 billion by 2027.

The floor coverings segment was a significant contributor to the market’s value in 2019 and is expected to continue growing rapidly.

What will be the home decor market growth in 2027?

The industry is expected to grow at a 3.9% CAGR from 2020 to 2027.

The United States, Germany, and Canada are the leading players in home decor goods, while countries such as India, China, and Brazil are steadily embracing this industry.

How big is the home furnishings market?

In 2021, home furnishing stores’ market size in the United States is valued at a whopping $28.2 billion. Moreover, the market size of this industry is projected to grow 2.7% in 2021.

What does home decor include?

Products in the home decor category include different items like:

• Furniture
• Home textiles (bath textiles, kitchen and dining textiles, bed textiles)
• Floor coverings (vinyl and rubber, laminate and wood, tiles, rugs, and carpets)

In a nutshell, the home decor includes goods that help you spruce up your home. These items also include plants, lamps, chairs, paintings, etc.

Why is the home decor market growing?

One of the major factors responsible for the growth is the consumer preferences and demand for beautiful items to decorate their homes.

The other factor is the rise in choices. The more choices consumers have, the pickier they become and demand more options.

Conclusion

All in all, as you can see from these home decor statistics, the industry is booming, especially ecommerce retail sales.

Not only do people prefer to shop from the comfort of their homes, but they also try to minimize social contact as much as possible.

The outlook for the home decor industry is highly positive. If you found these home decor industry statistics helpful, feel free to share them on social media with your friends and family.

Sources

• Allied Market Research
• Allied Market Research
• Architectural Digest
• Business Wire
• Elle Decor
• IBIS World
• IBIS World
• Ideal Home
• Mordor Intelligence
• PR Newswire
• Statista
• Statista
• Wellcome Home
• Women’s Health Mag

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