The world home décor market was reported to reach $664 billion in he next four years. This is based on the 4.5 per cent forecast made for 2015-2020. According to the report, this home décor market has become the largest with the largest share which is followed by the furniture.
In the last two years, the world home décor market was dominated in the Asia-Pacific regions where this region is predicted to register the fastest CAGR or the compound annual growth rate. This is all due to the rapid increase to the development of the real estate industry with their expansion and further developments made in the recent years.
Second factor that contributed is the globalization which allows the consumers to have an easier and wider availability of home décor market in the last two years. Because of this, the world consumers are changing their preferences to set their selves to the trend of home decorating as well as the modern home matters in general.
Third factor includes the shift of the consumers' preference on conventional home decorating shopping to a more eco-friendly home decors to add in their respective homes. According to the research conducted by Research and Markets specifically for world home décor, there is an increase to the level of awareness of the consumers to the use of eco-friendly products especially their impact to the nature and the environment.
This also allows the increase of the demands of the environment friendly furniture and other interior materials needed by each house owner.
However, the costs of the leather and other superior quality of wood have declined their appeal in the market due to the increasing cost compared to the eco-friendly produced furniture. Because of that, there is an observable change of view among the costumers regarding the choice on home décor materials between these different materials.
Aside from the given factors that contributed to the fast change of the consumers' behavior to the world home décor market is their high preference on online retail platforms. This is the fourth factor. At least, in this way of searching for nice home décor products, they have a lot of time researching since the products they like to buy for their house are already found online.
