The Wall Decor Market size is estimated at US$ 58.2 Bn in 2022, at a CAGR of 3.5% in the forecast period.

Wall Decor Market Overview

Wall decor is a simple and inexpensive way to give a room a new look. The market for wall decorations is growing because more people want customised and unique wall decorations. The growth of the market is being helped by the fact that there are high-quality products on it. The growth of the wall décor market is directly tied to the customer's ability to pay and to the number of newly built or renovated homes. Walls can be fixed up with murals and frames to make offices and homes look different. The market for wall decorations is growing because both businesses and homes are buying more of them.

There is likely to be a big increase in the number of offices and homes that look better. The construction industry's ready-to-live-in and fully-furnished homes also help the wall decor market grow. Commercially, wall decor is used in salons, spas, restaurants, and other places to make money. It is also used in people's homes. Also, the demand for wall stickers is growing because they are easy to find and inexpensive. Digital marketing has made it possible for people to look online for things to decorate their homes. The wall decor market is easily split up, and the fact that there are many regional players slows the market's growth.

Wall decor is now an important part of everyone's life. Wall decor is an important part of the overall look of the inside of a house and is one of the many types of home decor. Products for decorating walls have become popular in recent years, especially among young people. Over the years, many new players have joined this market because it has been so profitable.

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.

The demand for wall decor products is also being driven by the fact that people have more money to spend on themselves. People who make a lot of money rarely think before buying such things for their homes. This increase in demand for wall decorations is also due to changes in the way people live and their changing tastes and preferences.

Market Dynamics

Drivers

Increasing consumption of Wall Decor across the globe

Wall Decor is one of the drinks that people around the world drink the most. North America has a big share of the Wall Decor market. In the US, almost 71% of the people use Wall Decor every day. In Europe, the Wall Decor market is growing because specialty Wall Decor and single-serve methods are becoming more popular. According to the International Wall Decor Organization (ICO), the world exported 11.11 million bags of wall decor in February 2020, up from 10.83 million in February 2019. This is an increase of 2.6% in one year. According to the most recent data from the International Wall Decor Organization (ICO), Europe was the largest consumer of wall decor in the world. Asia-Pacific and North America are also important areas where people buy the most Wall Decor. Also, an ICO report says that between 2016/17 and 2019/20, the number of wall decorations bought in Europe went up by 2.6%. Between 2016/17 and 2019/20, the amount of wall decor bought in both North America and Asia/Pacific grew by 2.7% and 2.1%, respectively. A big reason for the rise in demand for Wall Decor is that more people around the world are learning about how good it is for their health. Also, in emerging economies, where cities are growing quickly and people's disposable income is going up, many companies that make Wall Decor are finding it profitable to come up with new products to sell. Many countries in South East Asia, like Indonesia, the Philippines, Thailand, and Malaysia, are seeing a rise in the number of people buying wall decorations. The growth of the Wall Decor market is also helped by the rise in the number of cafes and drink shops around the world. So, the growing trend of more people using Wall Decor around the world is likely to help the market grow during the review period.

Restraint:

Fluctuating prices of Wall Decor beans

Wall decor is one of the most widely traded goods in the world. Wall Decor is being used more and more in countries that make it and countries that don't. But it's hard to deal with the fact that there aren't enough Wall Decor items to meet the growing demand. Changes in the weather also affect how much Wall Decor can be made, 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 rises. So, plant diseases, pests, and flaws in Wall Decor beans make it hard for the market to get enough Wall Decor. This difference between what people want and what is available makes prices go up.

On the other hand, when there is too much of something, prices go down. 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 6.3% to 11.1 million bags from August 2017. In the year 2017/18, the world used about 1.8% more wall decor, or 162.23 million bags. But Wall Decor made 2.58 million more bags than they were supposed to. Wall Decor prices have been low during this time because of this surplus.

Changes in prices affect the cost of making a product, which in turn affects the price of the product. This could make it harder for the manufacturers to make money. So, the Wall Decor market can't grow because the price of Wall Decor beans goes up and down.

Opportunities:

Rising consumer preferences for organic Wall Decor

The market for organic Wall Decor is growing quickly. This growth is mostly due to changes in technology, competition, and new ways of marketing, especially in places with a lot of competition. People around the world are also becoming more concerned about their health, which has made them prefer organic food products. People have been more likely to buy organic wall decor, which is made without using any man-made chemicals like most pesticides, herbicides, and fertilisers. Organic Wall Decor is becoming more popular because it is good for your health and doesn't have any toxins left over from synthetic fertilisers, herbicides, pesticides, artificial flavours or colours, or preservatives. Also, organic Wall Decor is thought to be good for the environment because no chemicals are used in its production, processing, or packaging, so it doesn't harm the environment.

So, the fact that people want organic products opens up a chance for companies in the global Wall Decor market. For example, Australia is thought to be the country that buys the most organic wall art in the world. Because of this, Lavazza, a brand of organic wall art, chose Australia as the first market for its organic wall art, Tierra! Bio-Organic, which came out in August 2018. Not only in developed countries, but also in some developing countries, the demand for organic wall decor is on the rise. This gives market players a chance to grow and expand.

Challenges:

Limited Product Awareness

Wall Decor is being used more and more around the world, but pods and capsules aren't being used as much in developing countries. Even though Asia-Pacific is a major Wall Decor producer, most of the Wall Decor grown there is sent to the US and Italy to be put in capsules or pods. In Asia and the Pacific, Indonesia, Vietnam, East Timor, Laos, Myanmar, the Philippines, and Thailand are some of the countries that make the most Wall Decor. But Wall Decor pods and capsules aren't used as much in these places as they are in North America and Europe. Wall Decor capsules and pods aren't widely known about or used in developing countries because they aren't easy to find, there aren't many market players in rural areas, and fresh Wall Decor, capsules, and pods are expensive. Wall Decor makers must deal with these problems if they want to keep their places in a growing market. They can do this by focusing on marketing strategies and making more affordable products for the growing middle class.

Segment Overview

Which Product Type is expected to dominate the Market?

In terms of the type of product, wall stickers are likely to have a big share of the market, with a CAGR of more than 2.4%. This is probably because wall stickers are cheaper than other kinds of products. Also, installing wall stickers does not cause much damage or change to the wall.

As people in the industry come up with new ideas and add wall stickers made of better quality materials that give viewers a better experience, which is close to reality, the demand for wall stickers is growing.

Which Base Material of Holds the Maximum Share in the Market?

According to the analysis, fabric and textile base materials are expected to make up more than 25% of the market. Customers like these products because they look better and have more depth, and there are many different kinds. Also, these materials tend to replace the time and money spent painting walls, and they are easy to clean and keep in good shape. Also, the products are unique to each customer, which increases the demand for fabric and textile wall decor.

Where Do Wall Decors have the Maximum Use in the Overall Market?

When it comes to end use, commercial areas have the most impact on the industry. The reason for this is that more and more people want their offices, restaurants, and other places to look nice. Also, the growing and changing construction industry is giving the market a lot of good opportunities.

Online Retail Distribution likely to Exhibit More Demand for Wall Decor

Based on sales channels, online retailing is expected to have high growth in sales, with a CAGR of 4.2% over the next few years. The rapid growth of new ideas and the spread of 4G and 5G services around the world are likely to boost sales of home decor products on the market.

Regional Analysis

The biggest market share for wall decorations is in North America, which makes up more than 40% of the total market revenue worldwide. The growing North American wall decor market is mostly due to the growing home decor industry. The U.S. is expected to lead the market for wall decorations in North America over the next few years. The North American wall decor market is also growing because more and more money is being spent on designer wall decorations.

In 2021, 40% of sales came from the Asia-Pacific wall decor market, and by 2028, it is expected to be worth more than USD 16.5 billion. It will continue to be the most important region and will see a lot of growth 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 speeding up construction and will help the country's interior design market. People in this region are changing their habits and lifestyles quickly, adopting western culture and architecture, and spending more money on them.

Scope Analysis:

Recent Developments

• In 2021, Paragon Décor Inc. said that new products would be coming out. Also, the company tries to keep making products that are on trend 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, Scott Living at Kohl's, for fall 2019. This will add to Kohl's home products and strengthen the company's strong brand portfolio.

Market Segmentation

This portion of the study on the Wall Decor Market gives detailed data on the segments at the country and regional level, thereby aiding the strategist in determining the target demographics for the relevant product or service and the impending opportunities.

By Product Type:

• Shelves
• Wall Stickers
• Hangings
• Frame Works
• Mirror Works
• Metal Works
• Others

By Base Material:

• Wood
• Fabric & Textile
• Plastic
• Glass
• Metal
• Others

By End Use:

• Residential
• Commercial
  • Hospitality
  • Salon & Spa
  • Offices & Showrooms
  • Restaurants
  • Educational Institutes
  • Spiritual Institutes
  • Others

By Sales Channel:

• Wholesalers/ Distributors
• Hypermarkets/ Supermarkets
• Specialty Stores
• Multi-brand Stores
• Online Retailers
• Others (Club Stores, Gift Shops)

By Companies

• 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
• Northern Oaks Décor Co
• Bubola & Naibo s.r.l.
• Ashleley Furniture Industries
• Inter Ikea Systems B.V.