NEW YORK, Sept. 4, 2023 /PRNewswire/ — The European wall decoration market is estimated to grow by USD 12,754.6 million from 2022 to 2027 at a CAGR of 9.91%, according to a recent market study by Technavio . Market growth will be driven by increasing sales of wall decorations, growth in the housing market in the EU and consumer spending on home renovations, and the impact of the latest interior design trends. Over the past decade, the market has seen a 30% increase in gift and home accent sales. Contributing to this growth are holiday season and online retail sales, particularly in the United States. Upper-income and upper-middle-income consumers prefer high-end wall decorations because of their higher disposable income. Aspirational wall decor collections cater to this affluent consumer group, driving both sales volume and dollar value. Rising sales of wall decorations is expected to continue driving market growth during the forecast period. The report features charts and data tables for market and segment size for the past five years (2017-2021).Download sample report
Technavio has published its latest market research report titled European Wall Decoration Market 2023-2027.
Technavio works with 15 major vendors including Amazon.com Inc., Artemest srl, Bed Bath and Beyond Inc., Carrefour SA, Costco Wholesale Corp., Debenhams Plc, Dunelm Group Plc, Home24 SE, Inter IKEA Holding BV, and JUNIQE GmbH. was extensively analyzed. , 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 Decoration Market – Segmentation Assessment
The market is segmented by products (wall art, picture frames, wall clocks, wall storage/shelves/cabinets, etc.) and distribution channels (offline and online).
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Market share growth by wall art segment is expected to increase significantly during the forecast period. This sector is expected to primarily capitalize on the rapidly increasing adoption of smartphones, tablets, and personal digital assistants (PDAs). The increasing adoption of such devices has led to a growing adoption of online shopping for purchasing wall art. Since a significant percentage of the population in the UK and Germany has high purchasing power, companies have started to focus primarily on selling wall art in these countries. The market is expected to benefit greatly from the economic recovery in countries such as Spain, Germany, and the United Kingdom. A significant proportion of the region's population believes that wall art is an investment that increases in value over time, and therefore will invest more in purchasing such items than other wall decorations during the forecast period. is expected to occur.
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Market trend
challenge
Long life of upholstery products is one of the major challenges hindering the market growth. Most wall decor items tend to have a long lifespan, lasting for many years unless broken or damaged by other means, so consumers do not buy such products as often. Therefore, retailers need to focus more on the merchandising and inventory aspects of wall decoration items. Additionally, the product has a long shelf life, which means you won't have to replace your wall decorations as often. Despite this, products and stock-keeping units (SKUs) continue to move in offline stores due to technology and seasonal trends. Although new interior design trends play an important role in customers' purchasing decisions, most wall décor items are intended for long-term use and do not usually require regular replacement. Additionally, some wall decor, such as wall art, can be expensive and considered a one-time expense for many people. Such factors are expected to hinder the market during the forecast period.
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What are the key data covered in this European Wall Decoration Market report?
CAGR of the market during the forecast period
Detailed information about the factors driving the growth of the European Wall Decoration Market from 2023 to 2027
Accurate estimation of European Wall Decoration market size and market contribution, with focus on parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of wall decoration market across Europe
It thoroughly analyzes the competitive landscape of the market and provides detailed information about the companies.
Comprehensive analysis of factors hindering the growth of the European Companies Wall Decoration Market
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Report scope
detail
base year
2022
historical era
2017-2021
Forecast period
2023-2027
Growth momentum and CAGR
Accelerating at a CAGR of 9.91%
Market Growth 2023-2027
12,754,590,000 USD
market structure
fragmented
YoY growth rate (%) for 2022-2023
8.36
regional analysis
Europe
Major countries
Germany, UK, France, Italy and other European countries
competitive environment
Key vendors, vendor market position, competitive strategies, and industry risks
Introduction of major companies
Amazon.com Inc., Artemest srl, 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.
Market trend
Parent market analysis, market growth drivers and obstacles, fast growth segment analysis and slow growth segment analysis, COVID-19 impact and recovery analysis, future consumer dynamics, market situation analysis for the forecast period.
Scope of customization
If the report doesn't contain the data you're looking for, you can contact an analyst to customize your segments.
table of contents
1.executive summary
2 Market scenery
3 Determining market size
4 Past market size
5 Five Forces Analysis
6 Market segmentation by product
7 Market segmentation by distribution channel
8 Customer situation
9 Geographic Landscape
10 drivers, challenges and trends
11 Vendor status
12 Vendor analysis
13 Appendix
About us
Technavio is the world's leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights that help companies identify market opportunities and develop effective strategies to optimize their market position. Offers. With over 500 expert analysts, Technavio's report library consists of over 17,000 reports covering 800 technologies across 50 countries, and growing. The company's customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify existing and potential market opportunities and gain a competitive advantage within the changing market scenario. We are evaluating the status of
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European wall decoration market 2023-2027
Sision
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Source Technavio