The Wall Decor Market Size Is Estimated At US$ 58.2 Billion In 2022, And USD 76.63 Billion By 2030 At A CAGR Of 3.5% In The Forecast Period.
Wall decor is an easy and cheap way to change the look of a room. People want more personalized and unique wall decorations, so the market for them is growing. The fact that there are high-quality products on the market is helping it grow. Customers' ability to pay and the number of newly built or remodeled homes have a direct effect on the growth of the wall décor market. Murals and frames can be put on walls to make homes and offices look different. Wall decorations are becoming more popular in both businesses and homes, which is making the market for them grow.
The number of offices and homes that look better is likely to go up a lot. Ready-to-live-in and fully-furnished homes built by the building industry also help the wall decor market grow. Wall decor can be used to make money in salons, spas, restaurants, and other places. People also use it in their homes. Wall stickers are also becoming more popular because they are easy to find and don't cost much. People can now look for things to decorate their homes online because of digital marketing. The market for wall decor is easy to divide, and the fact that there are many local players slows the growth of the market.
Decor for the walls has become an important part of everyone's life. Wall decor is a type of home decor that is an important part of how the inside of a house looks as a whole. In the past few years, products for decorating walls have become popular, especially with young people. Because this market has been so profitable, many new players have joined it over the years.
- Increasing Trend for Interior Designing
In the last five years, the US economy has been getting stronger because the country's GDP has been going up. This has led to more money being spent on products for home improvement and decoration. A lot of people have been interested in designer wall decor (such as wall art, wall clocks and picture frames). Interior designers and companies that do interior design have seen this as a chance and are trying to come up with trends that will get people to spend money on interior design.
Interior design and designer wall decor are becoming more popular as the media reach and knowledge of art from different parts of the world grow. Interior design is becoming a lot more popular because more and more women are working and taking part in making decisions around the house. During the forecast period, these things will help the market grow.
- Rising number of Artists to Boost Wall Art Demand
As the number of artists and craftspeople grows, the rate at which home artworks can be made will slow down, which will help keep the demand for the products high. According to data from the U.S. Bureau of Labor Statistics, the number of jobs for artists and related workers in the U.S. will reach 12,600 in 2020 and grow by 9.5% by 2030.
Also, the regular launch of art-related campaigns by the key companies will help them sell more of their products and grow the market. In October 2021, for example, Haarlem Artspace, a company that makes contemporary art products, started a "Go Fund Me" campaign to show the public its wide range of high-quality contemporary arts.
- Rising Residential and Commercial Development to Support Market Growth
People use creative panel art more and more these days to keep their homes looking nice and to decorate them. So, growing residential and commercial infrastructure will make it easier for the world's population to buy less of a product. Recent data from the National Association of Realtors (NAR) show that in October 2021, 6.34 million existing homes were sold in the U.S. This is 0.8% more than the previous month.
People are also buying more of these kinds of products because more and more people are going to art museums in many countries around the world. For example, between July 2020 and November 2020, the number of people who went to the Asian Civilizations Museum (ACM) and the National Museum of Singapore went up by 40% compared to the same time period the year before.
- Improved Standard of Living and the Increasing Introduction of Premium Products
The number of home renovations in the US has gone up, mostly because people are living better and have more money to spend. Modern and designer home decor items, such as wall art, and the spread of the Internet and social media are also driving up the demand for home renovations. Personalized products are also becoming more popular, which drives up the demand for wall decor items.
Also, because of globalization, the biggest stores that sell wall decor are adding more specialized products to their lines to meet the growing and varied demand. During the forecast period, the demand for wall decor products in the US will be driven by a higher standard of living and a desire for new and high-quality products that fit the interior and aesthetics of the home.
- Availability of Alternative Art Products to Restrain Market Growth
The growth of the market is being slowed down by how easy it is for consumers to get other products, like murals, lighting, wallpaper, and others. Also, the middle class and people with lower incomes are buying fewer art frames and antiques because they cost more than they used to. Also, the key players' product sales are affected by how much competition there is in the local market. This slows the growth of the market.
- Fluctuating Prices of Wall Decor Beans
Wall art is one of the things that people buy and sell the most. Both countries that make it and countries that don't are using wall decor more and more. But it's hard to deal with the fact that there aren't enough Wall Decor items to meet the rising demand. When the weather changes, the amount of Wall Decor that can be made also changes, which makes price changes even bigger. The plant disease called "Wall Decor rust" or "la roya," which is caused by a fungus that attacks the leaf and kills the branch and the Wall Decor cherry, tends to spread when the temperature goes up. So, plant diseases, pests, and flaws make it hard for the market to get enough Wall Decor beans. Prices go up because there is a difference between what people want and what is available.
On the other hand, prices go down when there are too many of something. For example, the International Wall Decor Organization says that bigger Wall Decor supplies in 2017/18 led to more shipments in August 2018, when global exports went up by 6.3% to 11.1 million bags from August 2017. The world used about 1.8% more wall decorations, or 162.23 million more bags, in 2017/18. Wall Decor was supposed to make 2.58 million more bags than they did. Wall decor has been cheap because there has been so much of it.
Price changes affect how much it costs to make a product, which in turn affects how much the product costs. This could make it more difficult for the companies to make money. Since the price of Wall Decor beans goes up and down, the Wall Decor market can't grow.
- Rising Consumer Preferences for Organic Wall Decor
Organic wall art is becoming more and more popular. Most of this growth is due to changes in technology, competition, and new ways of marketing, especially in places where there is a lot of competition. People all over the world are also becoming more worried about their health, which has led them to prefer organic foods. People have been more likely to buy organic wall decor, which is made without using any chemicals made by humans, like most pesticides, herbicides, and fertilizers. Organic Wall Decor is becoming more popular because it is good for your health and doesn't have any toxins left over from synthetic fertilizers, herbicides, pesticides, artificial flavors or colors, or preservatives. People also think that organic Wall Decor is good for the environment because no chemicals are used to make, process, or package it, so it doesn't hurt the environment.
Since people want organic products, this gives companies in the global Wall Decor market an opportunity. For example, it is thought that Australia is the country that buys the most organic wall art. Because of this, Lavazza, a brand of organic wall art, chose Australia as the first place to sell its organic wall art, Tierra! Bio-Organic, which came out in August 2018. Organic wall decorations are becoming more popular not only in developed countries, but also in some developing countries. This gives people in the market a chance to grow and get bigger.
- Rapid Advancements in the Field of Technology
One of the main things driving the demand for wall decor products right now is the fast growth of online shopping. Rapid changes in technology and the rise of 4G and 5G internet services have led companies to start selling their goods online. This lets them reach a wider range of customers. Also, since a lot of e-commerce companies have started up in the past few years, manufacturers have been doing a lot of aggressive marketing and advertising by offering big discounts to get people to buy their products.
- In 2021 - Paragon Décor Inc. said that it would release new products. Also, the company tries to keep making products that are in style and keep putting out seasonal lines with new designs.
- In 2018 - Kohl's Illinois Inc. announced a strategic partnership with the Scott brothers and the launch of an exclusive home lifestyle collection called Scott Living at Kohl's for fall 2019. This will add to Kohl's home products and strengthen the strong brands the store already has.
- In April 2022 - The art-tech website Raknida.com, which was made by Insecta, sells cheap and inspiring wall art. Customers can choose from art prints, canvas prints, and wallpapers on the portal. They can also have any piece of art or canvas print framed. Users can choose from different kinds of digital art, such as graffiti, murals, photography, illustrations, and more. People want to decorate their homes with smart devices, so the demand for wall-mounted devices has also gone up.
- In February 2022 - Jupiter Meta, a curated NFT marketplace, will work with the 108 Collective art and design collective to launch the "Icons of Singara Chennai" digital wall art project.
- In April 2021 - The Dusk showed Muhammad Nafay's Digital Painting for the first time. Digitally printed wall art is selling more than ever because more and more people want digital wall decor. This helps the global market grow.
- In July 2020 - Etsy, an online store that sells goods, released an app with augmented reality (AR) features that let users see wall crafts, photos, and prints in their homes.
- In July 2020 - Wall x Niio art products will be sold all over the world thanks to a partnership between Samsung Group and Niio, a new art media platform.
Top market players
Paragon Decors, Inc. is a wholesaler that sells wall decorations and other home goods. The company sells wall art, lamps, mirrors, vases, decorative pieces, and accessories, among other things. Paragon Decors also has services for design.
PTM IMAGES is a top company that makes and sells home furnishings and decorations. Since it was started in 1995, PTM IMAGES has grown to become one of the top five manufacturers of home decor and goods in North America.
Artissimo Designs is a company that makes and sells consumer goods. It makes metal sculptures, 3D flush mounts, and wall decals.
Green Front Furniture is a private company. The company currently specializes in the Furniture area. Its headquarters is located at Farmville, Virginia, USA.
Surya is an innovative brand of home decor that makes beautiful rugs, furniture, lighting, textiles, wall art, and accents that can change the look of any room. Surya products are made so that they go well with each other and can be used in different ways to fit any lifestyle.
The Neiman Marcus Group LLC makes clothes and accessories by designing and making them. The company sells jewelry, jackets, tops, jeans, shoes, sweaters, handbags, and other similar items.
With more than 730 stores in 41 states, Kohl's Corporation is one of the largest discount department store chains in the United States. Kohl's goal is to be the best family-focused, value-oriented, specialty department store that sells high-quality, exclusive and national brand products in a convenient, friendly, and fun environment.
Crate & Barrel Holdings, Inc. sells things for the home. The business sells rugs, furniture, tableware, bedding, and lights. Customers in Illinois can buy from Crate & Barrel Holdings.
Scandia Inc. works with citrus products and sells them. The company sells its products to companies all over the United States that make and sell citrus products.
Studio McGee was started in a spare bedroom, where there was no room for fabric samples but a lot of big ideas. Syd and Shea McGee, a husband-and-wife team, spent many late nights coming up with ideas and working together. They decided to take what was a small business for a stay-at-home mom and turn it into something much bigger.
Stratton Home Décor knows a lot about designing, making, and importing wall decorations. Our hand-made products are designed to inspire, developed to meet affordable values, and sold in national retailers, as well as numerous eCommerce platforms.
The market is segmented on the basis of type, material, sales channel and region.
By Type Outlook:
The global wall art market analysis can be done with abstract, modern, fine, and other types of art. When making fine art, artists mostly need skills in perspective, anatomy, lighting, and proportion, and the pieces usually sell for more money. Due to their higher prices, fine products make up a big part of the market. Fine arts also have benefits outside of school, such as boosting self-esteem, sensitivity to beauty, motivation, and creativity. This makes more people use fine wall art, which drives the growth of the fine segmental.
The modern segment is driven by the fact that more and more people like paintings that look modern. Abstract paintings and drawings are mostly used in offices because they stimulate the part of the brain that is responsible for creativity and imagination. So, the growth of the abstract segment is being driven by more offices using these kinds of art. In the "Others" section, you can find portrait, figurative, and conceptual art, among other things. The main thing driving the others segment is that consumers are becoming more aware that paintings and sculptures on different subjects are available.
Material types like canvas, paper, and others are used to divide up the global market. Canvas art comes in different sizes and styles and costs less than other kinds of art. Canvas has many advantages over other types of art materials, which is why it has a large share of the market. The growth of the canvas segment is also helped by the fact that many artists use cotton, synthetic fiber, and linen to make canvas-based art.
Paper art and crafts are popular ways for art students to improve their creativity and imagination. This makes it more likely that artists will use the paper, which helps the paper segment grow. In the "Others" section, there are different kinds of materials like wood, metal, glass, plastic, etc. The other segment is mostly driven by the growing demand for sculptures made of metal and wood.
By Sales Channel:
The world market is divided into dealers and auction houses based on how products are sold.
The dealers' segment has a big share of the market because consumers can easily find paintings, drawings, sculptures, and other affordable art products at the dealers' shops and on their websites. Also, if these dealers regularly offer discounts and coupons for wall paintings and drawings, the demand for these items will go up, which will boost the dealers' segmental revenues.
The auction houses segment is mostly driven by the fact that more and more people with middle-income and higher incomes want highly skilled art products. Also, the growing infrastructure of art and cultural auction houses around the world boosts the rate of consumption of the products, which drives the growth of the auction houses' segment. In 2018, Portion.io, a global online art market, opened an auction house that uses blockchain technology to sell art, collectibles, and luxury goods all over the world.
North America has the biggest market share for wall decorations. It makes up more than 40% of the total market revenue around the world. Most of the reason why the North American wall decor market is growing is because the home decor industry is growing. In the next few years, the U.S. is likely to have the biggest market for wall decorations in North America. The market for wall decorations in North America is also growing because people are spending more and more money on designer wall decorations.
Asia-Pacific was responsible for 40% of sales in 2021, and by 2028, it is expected to be worth more than USD 16.5 billion. It will still be the most important region and will grow a lot in the coming years, thanks to the growth of the construction industry in countries like India, China, and Indonesia that are still growing. India's IT industry is growing quickly, which is making construction go faster and will help the country's interior design market. People in this area are quickly changing their habits and ways of life. They are becoming more interested in western culture and architecture and spending more money on them.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Scope of Report:
||Value (USD Billion)
||CAGR of 3.5% from 2023 to 2030
By Sales Channel
- Paragon Décor Inc.
- PTM Images
- Artissimo Designs
- Green Front Furniture
- Surya Inc.
- Neiman Marcus
- Kohl’s Illinois Inc.
- Crate and Barrel
- Scandiamoss Inc.
- Studio McGee LLC
- Stratton Home Décor
| Regional Scope
- North America
- The Middle East & Africa
- Latin America
|Reasons to Purchase this Report and Customization Scope
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- The global market research report gives an in-depth look at the market and points out important things, such as leading companies, types, materials, and application areas.
- The global wall art market also shows trends, the competitive landscape, and important changes in the industry.
- In addition to what has already been said, the report covers a number of other factors that contribute to the growth of the market.