Major players in the wall décor market are Bed Bath & Beyond Inc, The Home Depot, Inter IKEA Systems B.V., Lowe’s Companies Inc, Ethan Allen Interiors Inc, J.C. Penney, Paragon, PTM IMAGES, Artissimo Designs LLC, Green Front Furniture, STUDIO MCGEE, Northern Oaks Décor Co, Crate and Barrel, and Stratton Home Décor.
The global wall décor market is expected to grow from $ 49.28 billion in 2021 to $ 52.70 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The wall décor market is expected to grow to $ 62.56 billion in 2026 at a CAGR of 4.4%.
The wall décor market consists of sales of wall décor and related products by entities (organizations, sole traders, and partnerships) that are used to create the aesthetic look of households and office walls to give an artful appearance. Wall decors are decorative items such as paintings, wall art, clocks, decals, and others that are used in home décor to create an ambiance that enhances the touch and feel of the room, making the place more connected and increasing the value of the property.
The main types of products in the wall décor market are shelves, wall stickers, hangings, frame works, mirrors, metal works, wall art, paintings, and other products.Shelves are used as closets, bookcases, and others to hold objects on walls.
Shelves are commonly made up of flattened wood that is mounted on walls about hold objects and to give an aesthetic look to the wall.The different base materials include wood, fabric and textiles, plastic, glass, and metal, which are distributed through several channels such as wholesalers and distributors, hypermarkets and supermarkets, specialty stores, online retailers, and others.
The various applications include household, office and business, medical and dental facilities, hotels and spas, restaurants, cafés and bars, and others.
North America was the largest region in the wall decor market in 2021.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the wall décor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing inclination toward creating an aesthetic look in households and offices is expected to propel the growth of the wall decor market going forward.Aesthetic refers to enhancing the look of things or objects in an artful way that creates pleasant and positive value for the object.
People are more focused on interior design to create an aesthetic look for households and offices that helps in adding functionality to places.Wall decor gives an aesthetic look to the house and office walls with their paintings and designs.
For instance, in May 2021, according to the Home Decor Survey carried by Sullivans in the United States, a US-based company operating in home décor, approximately 76% of people plan to buy the same or more amount of home décor as compared to the last year, and also, 24% of the consumers are expected to buy new décor than purchased previously. Therefore, the increasing inclination toward creating the aesthetic look of households and offices is driving the growth of the wall decor market.
New product innovations are the key trend gaining popularity in the wall decor market.Major companies operating in the market are introducing new products to gain a competitive advantage.
For instance, in December 2020, Spacekit, a US-based home décor company, launched a customizable, modular wall décor system for homes and offices.These are made up of designed strips and variously textured art panels that can be hung in a variety of ways.
Spacekit’s snap-and-go design and self-contained framing system allow easy reconfiguration and even removal when changing up a room, or moving to a new home. The panels are made from a 100% tree-free, wood alternative, making them a stylish and sustainable design choice.
In January 2021, Circle Graphic, a US-based company operating in wall decor, acquired Graphik Dimensions, LLC for an undisclosed amount.Through this acquisition, Circle Graphic would strengthen its wall decor product portfolio and also plan to develop new and innovative products in wall decor.
Graphik Dimensions LLC is a US-based company operating in wall décor.
The countries covered in the wall décor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The wall décor market research report is one of a series of new reports that provides wall décor market statistics, including wall décor industry global market size, regional shares, competitors with a wall décor market share, detailed wall décor market segments, market trends and opportunities, and any further data you may need to thrive in the wall décor industry. This wall décor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.