Wall décor sales to soar through 2027; commercial industry is a key target segment for manufacturers of wall décor
Global Wall Décor Market: From an estimated market size of US$ 50,015.5 Mn in 2018, the value sales of wall décor are expected to reach US$ 70,985.9 Mn by 2027 with at a CAGR of 4.0%
The trends in the global décor market are constantly changing, especially in case of the interiors of offices, retail shops and showrooms, as well as in the hospitality industry. Even in the household sector, consumers are very particular about the how they want the interiors of their homes to look. As a result, the wall décor market has been witnessing the introduction of new trends and features from time to time, which cater to the needs and requirements of target customers.
Trends of wall décor have been varying from region to region. Various commercial institutions, such as hospitality industry, salon & spa, offices & showrooms, restaurants, educational institutes, spiritual institutes and other such important sectors, pay special attention to the wall décor of their facilities.
Global Wall Décor Market: The adoption of nature-inspired patterns for interior decoration of homes is setting new trends
Over the past couple of years, the wall décor market has adopted a more nature-inspired approach through the incorporation of warm and natural elements to earthen luxury components, especially in the household and the hospitality sectors. At present, consumers seek materials that are derived from nature or those that mimic the sight of nature. The adoption of nature-inspired patterns for wall décor makes the space look authentic and spacious.
For instance, wall-mounted shelves are mostly derived from wood, and this makes them look natural and pleasant on the wall. Another trend witnessed in the wall décor market is the advent of hand-crafted and recycled furniture for interior designing.
Another popular trend in the wall décor market in the usage of earthy colours. Various types of wall décor products, such as shelves, wall hangings, frame works, mirror works and metal works, impart softer pastels and earthy tones. The wall décor market has witnessed the usage of various earthy colours such as soft greens, browns and taupe. Purple is also among the trending natural and earthy colours.
Global Wall Décor Market Dynamics: Wall décor is among the most influential factors in various industrial sectors
The wall décor in industrial settings plays an important role in motivating and engaging the workforce. The adoption of printed décor and wall laminates is considered to be the highest in the industrial sector.
Similarly, in the retail sector, wall décor plays an important role in drawing the attention of consumers to visit stores and influences the minds of the customers to visit the store over and over again. The rise in Omni-channel marketing has encouraged the retail sector to rethink its approach about customer experience, and an increasing number of retailers are seeking to create a seamless retail experience for customers.
The players in the hospitality sector, such as resorts, hotels and restaurants, are very particular about maintaining the interiors of their facilities, most importantly their wall décor, as customers are highly focused on these aspects. Beautiful interiors promote luxury and comfort, which helps attract customers.
The e-commerce sector plays an important role in driving the demand for the wall décor market. The significant rise in Internet penetration in major parts of the world is creating lucrative opportunities for the players in the wall décor market to promote their offerings to target customers in a much more effective manner.
Global Wall Décor Market Competitive Landscape: Multinational players are highly concentrated in the global wall décor market as compared to the local and regional manufacturers of wall décor
The global wall décor market is primarily characterised by the presence of a large number of regional and multinational companies. The detailed profiles of companies are also included in the global wall décor market report to evaluate their strategies, key product offerings and recent developments.
Some of the key players profiled in the global wall décor market study include 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.; Actedeco; Bubola & Naibo s.r.l; Asheley Furniture Industries; Inter Ikea Systems B.V.; Nitori Co Ltd.; Basset Furniture Industries Inc.; Williams-Sonoma, Inc. and Uttermost.
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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