Wall Décor Market size in Europe is set to grow by USD 12.7546 billion from 2022 to 2027 | The increasing sales of diverse wall decor items in the region drive the market - Technavio

NEW YORK, Sept. 4, 2023 /PRNewswire/ -- The wall décor market in Europe is estimated to increase by USD 12.7546 billion from 2022 to 2027, at a CAGR of 9.91%, according to a recent market study by Technavio. The growth of the market will be driven by the increasing sales of wall decor, the growing housing market and consumer expenditure on home improvement in the EU, and the Influence of the latest interior design trends. The market has seen a 30% increase in sales value for gifts and home accents over the past decade. Contributing to this growth are holiday and online retail sales, particularly in the US. Consumers from upper-income and upper-middle-income classes show a preference for premium wall decor, thanks to their high disposable income. Aspirational wall decor collections cater to this affluent consumer segment, boosting both volume and value sales. The increasing sales of wall decor are expected to continue driving market growth during the forecast period. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including Amazon.com Inc., Artemest s.r.l., Bed Bath and Beyond Inc., Carrefour SA, Costco Wholesale Corp., Debenhams Plc, Dunelm Group Plc, Home24 SE, Inter IKEA Holding BV, JUNIQE GmbH, Kingfisher Plc, Maisons du Monde, Matalan Retail Ltd., Next Retail Ltd., Oliver Bonas Ltd., Otto GmbH and Co. KG, The Range, Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. 

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Wall Decor Market - Segmentation Assessment

The market is segmented by product (Wall art, Picture frames, Wall clocks, Wall storage/shelves/ cabinets, and Others) and distribution channel (Offline and Online)

• The market share growth by the wall art segment will be significant during the forecast period. The segment is anticipated to advantage largely of the upsurge in the adoption of smartphones, tablets, and personal digital assistants (PDAs). The rising adoption of such devices is leading to an expansion in the adoption of online shopping for the purchase of wall art. The high purchasing power of a significant share of the population in the UK and Germany resulted in the companies emphasizing largely these countries to sell wall art. The market is anticipated to advantage heavily from the recovering economies in countries such as Spain, Germany, and the UK. A significant share of the population in the region considers wall art to be an investment that gains value over time, and thus, investing heavily in buying such items over other wall decor is projected during the forecast period.

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Market Dynamics 

Challenge 

The long life of home decor products is one of the major challenges hindering market growth. Most wall decor items tend to have a long lifespan and consumers do not purchase such products very often as they last for many years unless broken or damaged by any other means. Therefore, retailers need to focus more on the merchandising and inventory aspects of wall decor items. In addition, the long product shelf life lowers the replacement purchases of wall decor items. Nevertheless, technology and seasonal trends keep the merchandise and stock-keeping units (SKUs) moving in the offline stores. Although the new interior design trends play an important part in deciding the purchase decisions of customers, most wall decor items are meant for long-term use and typically do not require regular replacements. Furthermore, some wall decor, like wall art, is costly and regarded to be a one-time expenditure by many. Such factors are expected to hinder the market during the forecast period. 

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What are the key data covered in this Wall Décor Market In Europe report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the wall décor market in Europe between 2023 and 2027
• Precise estimation of the wall décor market in Europe size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the wall décor market across Europe
• A thorough analysis of the market's competitive landscape and detailed information about companies 
• Comprehensive analysis of factors that will challenge the growth of the wall décor market in Europe companies 

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The wall decor market in US is estimated to grow at a CAGR of 8.02% between 2022 and 2027. The size of the market is forecast to increase by USD 9,796.77 million This report extensively covers market segmentation by distribution channel (offline and online) and product (wall art, picture frames, wall clock, and other decorative accents). One of the key factors driving growth in the wall décor market in US is the improved standard of living and the increasing introduction of premium products.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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