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Blog / Style & trends / Home Decor Market in 2024: Trends and Opportunities

Style & trends

Home Decor Market in 2024: Trends and Opportunities

Home Decor Market in 2024: Trends and Opportunities
Lilija Karpjaka

By Lilija Karpjaka

9 min read

The home decor market is experiencing the highest growth rate in the print-on-demand industry. 

This growth reflects changing consumer preferences, technological advancements, and a desire for personalized living spaces—especially since the global pandemic has turned homes into multifunctional sanctuaries. Now, home decor has become a means of self-expression and identity.

In this article, we delve into the latest home decor products and growth trends, offering you a glimpse into the future of home furnishing. Let’s dive into the numbers.

Key statistics

  • Predictions suggest that the industry is on an upward trajectory, with an expected compound annual growth rate (CAGR) of 4.8% from 2022 to 2027, potentially reaching a market size of $898.3B by 2027. (Imarc Group)

  • Growth estimates for the global wall decor sector show a potential CAGR of 3.5% from 2023 to 2030. (Globe Newswire)

  • Regarding product categories within the home decor market, home furniture claims the largest share, followed by home textiles, flooring options, wall decor, and lighting solutions. (Imarc Group)

  • The wall decor market in the US is expected to grow by $8.19B during 2020–2024 due to increased demand for personalized and customized products. (Business Wire)

  • The US home decor market is experiencing a rise, bolstered by an increase in homeownership within the country. (Mordor Intelligence)

  • North America is leading the charge in wall decorations, holding over 40% of the global market’s revenue. (Globe Newswire)

  • The wall art segment alone accounts for a staggering 75% of the wall decor market in the US. (Business Wire)

Home decor market growth

As highlighted in the latest home decor market report, the market is experiencing unprecedented growth, with a projected CAGR of 27.7% from 2022 to 2032. In 2024, the market is estimated to be valued at $128.69B

It includes various products like artwork, textiles, decorative items, furniture, and lighting solutions. After home furniture, textiles are the second most popular category. Additionally, items like candles and a range of decorations, including wall art, decorative objects, vases, and sculptures, are also experiencing strong sales.

Home decor market, revenue by product typeSource: Statista

This steady growth can be attributed to various factors, the main ones including:

  • General ecommerce and online shopping growth

  • A growing cultural (social media) emphasis on personalized living spaces

  • The blend of minimalist and maximalist design trends

  • The shift to remote work

  • Customer demand for niche product designs

  • Growing demand for eco-friendly and sustainable products

The effects of this growth are widespread. Retailers and manufacturers find themselves in a golden era of opportunity, tasked with the exciting challenge of innovating and diversifying their offerings to match the eclectic tastes of the modern customer. 

Growing number of online shoppers

The print-on-demand dropshipping industry is currently valued at an impressive $6.25B as of 2024. With a robust annual expansion rate of 25.3% forecasted from 2023 through 2030, the industry is on track to soar to an estimated $39.03 B by 2031. This remarkable growth trajectory underscores a sector burgeoning with potential for innovators, creative minds, and digital influencers.

Rising demand for sustainable choices

This boom poses a call to action for sustainability and a mindful approach to the environmental footprint left by production and consumption. As consumers become more environmentally conscious, there is a noticeable shift toward products made with eco-friendly and natural materials and sustainable production processes.

This trend responds to environmental concerns and reflects a broader desire for authenticity and materials that tell a story.

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Lifestyle shift

The popularity of remote work has prompted many individuals to invest in their home office spaces, seeking functionality and comfort, further driving market growth. The trend toward personalization and customization, primarily through print-on-demand services, allows customers to express their unique style and create spaces that truly reflect their personalities and lifestyles.

The impact of technology

It’s impossible to overlook the monumental role that technology plays in the growth of the home decor market. Technology drives innovation, from how we design and manufacture products to personalized shopping experiences.

Ecommerce platforms have transformed the home decor industry, making it easier than ever for shoppers to access a wide range of products from around the globe. The rise of social media has also changed the game, with platforms like Pinterest and Instagram serving as sources of inspiration and influencing trends in real-time.

What’s more, smart home technology integrates seamlessly into home decor with products that look good and enhance home functionality and efficiency. Voice-activated assistants, smart lighting, and automated home systems are staples in modern homes, reflecting the growing demand for a connected and convenient lifestyle.

Biggest selling regions

As the home decor market flourishes globally, certain regions stand out for their substantial market share and consumer spending. North America, Europe, and the Asia-Pacific region are leading the charge. North America is the largest regional market due to its high consumer spending power and a culture that places significant value on home aesthetics and comfort. The US home decor market is expected to reach a value of $125B by 2028.

Europe follows closely, with its rich design history and a strong preference for luxury and contemporary decor. In 2024, the Europe home decor market segment is estimated to be $37.11B and reach $41.85B by 2028.

The Asia-Pacific market is rapidly growing, fueled by economic development, increasing urbanization, and a burgeoning middle class with a newfound interest in home decor. It’s predicted to have the highest CAGR of 4.4.% from 2021 to 2028.

These regions, each with unique trends and consumer behaviors, are pivotal to the global home decor market, driving innovation and dictating global design trends.

Among trending products are personalized cushions and throw pillows, which add a cozy touch to any room. 

Custom wall art, including canvases and framed prints, allows homeowners to showcase their favorite photographs or choose from a vast array of artist designs that resonate with their aesthetic preferences.

Customized furniture is another growing trend, with options ranging from engraved wooden pieces to upholstered items featuring bespoke fabric designs. 

In the home and living segment at Printful, the three most sold custom products are:

  1. Enhanced Matte Poster 
  2. Enhanced Matte Framed Poster 
  3. White Glossy Mug

These products cater to the desire for personalization and serve as conversation starters, making them a popular choice for gift-giving occasions as well. As the home decor market size continues to expand, the variety and creativity of custom home decor items is expected to grow, offering even more opportunities for buyers to express themselves through their home environment.

Based on the above statistics and our insights, here’s a list of the most popular custom products.

1. Personalized cushions and throw pillows

a pillow on a chairAll-Over Print Basic Pillow

These items add a personal touch with custom designs, names, or messages, making any space cozy and personalized. 

The global decorative pillow market size was $3.4B in 2022 and is expected to reach $4.83B by 2028. (Business Research)

2. Custom wall art

a framed pictures of a man's faceEnhanced Matte Paper Framed Poster

From canvases to framed prints, custom wall art allows homeowners to display their favorite quotes, family photos, or unique designs that reflect their style.

The US wall decor market is estimated to grow by $8.1B during 2020–2024. (Business Wire).

3. Personalized mugs and kitchenware

Custom mugs, tumblers, travel mugs, plates, and other kitchenware items are popular for adding a personal touch to everyday items, making them popular gifts as well.

In 2024, the kitchenware market worldwide generated a revenue of $17.3B and is projected to experience an annual growth rate of 3.83% (CAGR 2024–2028). (Statista)

The mug market size in the US is predicted to grow from $7.6B in 2023 to $10.9B by 2031. (Data bridge)

4. Custom rugs and mats

Custom rugs and mats offer a unique way to personalize entryways or living spaces. They can feature names, welcome messages, or custom designs.

The global carpet and rug market was estimated to be worth $78.1B in 2021 and is expected to reach $120B by 2030, with a (CAGR 5.5%, 2022–2030.) (Market Research Store)

5. Photo throws

a blanket on a tableThrow Blanket

Blankets and quilts printed with personal photos or designs offer a cozy way to keep memories close, making them popular among customers looking for personalized comfort items.

In 2023, the worldwide blanket market was valued at about $8.3B and is forecast to reach a value of approximately $9.9B by 2027. (Statista)

6. Decorative objects and sculptures

Decorative objects, vases, and sculptures tailored to the homeowner’s preferences are popular for adding a unique and personal artistic touch to home decor.

The decorations market worldwide is set to bring in $29.1B in 2024, and is projected to grow at an annual rate of 5.70% (CAGR 2024–2028). (Statista)

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A look into the future

The home decor market’s trajectory points towards a future where personalization, sustainability, and technology merge to create  aesthetically pleasing, environmentally responsible, and technologically integrated living spaces. 

According to the latest home decor market analysis, as we look towards 2024 and beyond, the trends indicate that consumers will continue to seek unique items that reflect their personal style and values.

The rise of print-on-demand services and ecommerce platforms has made it easier for shoppers to find home decor that meets their specific needs and preferences. This level of customization is expected to become even more prevalent as technology advances.

With the increasing importance of eco-friendly products, companies prioritizing sustainability in their production processes and product offerings are likely to see a positive response from customers who are more conscious of their environmental impact than ever before.

The home decor market is poised for continued growth, with innovation at its core. As consumer tastes evolve and new trends emerge, the market will adapt, offering an ever-expanding array of products to suit every imaginable preference and lifestyle.

The future of home decor is bright, with endless possibilities for consumers and businesses. The key to success in this dynamic market will be staying ahead of trends, embracing technological advancements, and committing to sustainable practices.

Wrapping it up

The home decor market is on an exciting growth trajectory, driven by personalization, sustainability, and technological innovation. As we move toward 2024, the industry is set to offer various products that enhance the aesthetic appeal of living spaces and cater to the increasing demand for eco-friendly and technologically integrated solutions.

For shoppers and businesses alike, the future holds many opportunities to create and enjoy home environments that reflect personal style and commitment to the planet.

Learn more: Print-on-Demand Statistics and Trends You Should Know in 2024

author

By Lilija Karpjaka on Apr 9, 2024

Lilija Karpjaka

SEO Content Writer

Lilija is an SEO content writer at Printful. She's passionate about ecommerce, and in her spare time, she's an avid reader of various book genres.

Lilija is an SEO content writer at Printful. She's passionate about ecommerce, and in her spare time, she's an avid reader of various book genres.