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PORTLAND, OREGON, UNITED STATES, March 29, 2023 /EINPresswire.com/ -- Urbanization growth in developing nations and rising consumer spending on eco-friendly home furnishings like carpet and rough textile have both made a substantial contribution to the expansion of the global market. The floor covering market had the largest revenue in 2021, and it is anticipated that it would continue to lead the market during the forecast period, per the analysis of the worldwide market for sustainable home décor.

According to a new report published by Allied Market Research, titled, “Sustainable Home Décor Market,” The sustainable home decor market size was valued at $331.0 billion in 2021, and is estimated to reach $556.3 billion by 2031, growing at a CAGR of 5.5% from 2022 to 2031.

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According to CXOs of leading companies, due to rising consumer interest in the idea of sustainable house decor, the global market for sustainable home decor is anticipated to rise significantly during the forecast period. Additionally, a rise in urban population and the expansion of the real estate sector in emerging economies have boosted sales of sustainable home decor items, which has fueled the expansion of the global market. Because there is such a huge demand from home buyers, Asia-Pacific is currently the world leader in the home décor industry. Asia-Pacific is predicted to experience a substantial development trend over the projected period due to an increase in demand for sustainable home decor items from nations like China and India. The number of homes and size of households are also anticipated to have an impact on market expansion.

Additionally, it is anticipated that an increase in disposable money and an improvement in personal lifestyles would present lucrative prospects for investors in the market for sustainable home design. Consumers are increasingly accepting eco-friendly, sustainable home design products in the current market. As a result, market participants are concentrating their efforts on creating eco-friendly products in order to take advantage of the rising demand. Competitors in the market compete on factors such product design, style, and raw material quality. In addition, numerous producers are working with importers, builders, and interior designers to market their eco-friendly home furnishings. Additionally, businesses have chosen to use e-commerce platforms to market their goods and boost their profit margins by cutting the cost of distribution.

Key Learnings

With a market revenue contribution of $155,516.0 million in 2021 and an estimated $263,618.8 million by 2031, the floor covering category led all product types in terms of CAGR.

The mass sector, depending on price point, contributed the most to the market’s revenue in 2021, with $196,728.8 million, and is anticipated to reach $324,776.1 million by 2031, with a CAGR of 5.3%.

By income group, the higher income sector contributed the most to the market’s revenue with $122,273.2 million in 2021. With a CAGR of 5.6%, it is predicted to reach $208,730.5 million by 2031.

The specialty shops category, which was the largest revenue contributor to the market by distribution channel in 2021 with $159,418.8 million, is anticipated to grow to $262,007.2 million by 2031 with a CAGR of 5.2%.

Asia-Pacific was the region that contributed the most to global revenue, accounting for $104,272.3 million in 2021, and is expected to grow at a CAGR of 5.4% to reach $173,570.2 million by 2031
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Leading market players of the global sustainable home décor market analyzed in the research include Vermont Woods Studios, Cisco Brothers, Lee Industries Inc., Duresta Upholstery Ltd., Greenington, Jianxgi, La-Z-Boy Inc., Manchester Wooden, Moso International, Shenzhen Vincent Handicraft, Ashley Furniture, Forbo, Herman Miller Inc., Inter IKEA Holding B.V., and Mannington Mills, Inc.

The report provides a detailed analysis of these key players of the global sustainable home décor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Related Report :

North America and Europe Home Decor and Accessories Market : https://www.alliedmarketresearch.com/north-america-and-europe-home-decor-and-accessories-market-A15880
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Tushar Rajput
Allied Analytics LLP
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