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How home décor is defining new-age luxury homes- KBV Research

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Home Decor Market

Home Decor Market

Home decor market has experienced consistent growth over a period of time. Especially in developing countries, the main reason for the growth is a large number of people becoming homeowners. Similarly, with the boom of personalization trends in all facets of consumer-based industries and with loads of design blogs/pinterest boards that is eye-catching for customers’, products such as DIY and CIY decor, has gained popularity.

What is home décor?

Home decoration refers to the arts and science of creating an interior space attractive and functionally beneficial for its people. It is an interest of people as there is no qualification required in decorating your interior. Any person who initiated in decorating their places can be a part of interior designing. In order to decorate a house, the only need is a sense of style and planning.

Some of the main components of home decor are furniture, floor covering, and textiles products. Expanding and developing the real estate industry has added the importance of home decor as a whole. Globalization offers easy and broader availability of home decor products and designs. Online shopping has become a huge trend, due to which, consumers now prefer to purchase even their furniture from the online retail platform. Reason being, home decor products are available at discounted and affordable rates.

Elements included in home décor

  • Wall decorations

The most vibrant trends emphasized on walls, wallpapers, and wall treatments. Wall decoration, can be based on textile or hardware-based is a reflection person’s identity – as it creates atmosphere, shows one’s status, and creates interaction between visitors with wallpaper, abstract wall decorations, wall hangings, paintings, mirrors, frames, and lighting. Velvet is widely used during the winter period. Sofas for relaxing armchairs or home furnishings, using velvet cushions bring a graceful touch in home decor.

  • Kitchen and dining textiles

Retailers mainly focus on the outdoor grilling and entertaining, well understood, used since the onset of summer. Kitchen and dining textile trends used with bright colors, different patterns, and seaside references. For the table, shoppers mainly prefer linen blends, fringed hem treatments, paper napkins, cheerful prints, bold pops of color, and wipe-off placements as these can be used indoors as well as outdoors. In a kitchen designed especially for grilling, the customers react to upbeat floral, whimsical conversational prints and solid pops of color.

  • Floor coverings

Wood & laminate flooring is favored owing to its durability, restoration physiognomies, and environmental profile. Some of the main factors in enhancing the wood and laminate industry are quick maintenance and refined look. New designs and printing technology has made laminated floors more convincing and increased their popularity with consumers. Wood & laminate flooring is available in various colors & designs, improving the aesthetics of interiors as they are installed.

Why home décor is an emerging industry?

Home decor represents the lifestyle that an individual desires. Most of the home decor products are used in decorating the house or an apartment with different accessories and furnishings and further provides an aesthetic and pleasant look to the building. Items involved in home decor are household furniture floor coverings, pots, candles, lamps, textiles, artifacts, furnishing items, etc.

Home decor is very popular not only in developed but also in developing countries with a huge prevalence in globalization and urbanization trends. Globalization helps in the easy and wide availability of decorative items, designs, and ideas to consumers.

Trends in the home decor industry

With more people adopting the ‘Less is more’ attitude, there is a paradigm shift in interior design. For 2019, it is expected that the decoration industry will witness more multi-functional spaces. The Murphy bed will see even more modernized versions. Furthermore, bringing bold colors into a room is all about creating balance.

One can use bold color sparingly, either as a statement piece or an accent. Although it wasn’t a trend that was particularly huge last year, the Edison bulb is still something that we see everywhere. In 2019, the home decor and interior trends have taken up a notch and it’s time to reinvent all those corners of the house. As we bid adieu to winters and spring is upon us, the top design trends this year have a lot in store. It will help in revamping home and workspaces with the choicest looks and at the same give it a sense of warmth.

Conclusion

The Home Décor Market is rising due to a varied range of factors. The major factors persuading the home decor are growing consumer preference in adoption and usage of eco-friendly products. Success in the real estate sector along with increasing disposable incomes has raised the demand for the home decor and furniture industry, which will rise in 2019. Reason being, customers prefer customized offerings in accordance with their lifestyle. People believe that their workspaces and homes symbolize their personalities and they are fully aware of home fashion trends. Likewise, Global Home Decor Market is predicted to grow at a market growth of 4.9% CAGR over the estimated period.