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Home Decor Market Size
The market size for the home decor sector in the United States for the year 2019 is estimated to be $181.72 billion. The United States has a market share of 68.1% in the North America region. Below is a deep dive into the findings, research strategy, assumption, and calculations.
UNITED STATES HOME DECOR MARKET SIZE
- In 2019, the United States home decor market size was estimated to be $181.72 billion.
- The United States has a market share of 68.1% and is reported to have the highest growth in the North America region.
- The North America region has a market share of 37.7% and is reported to holds the largest share in the world.
- In 2018, the global home decor market size was estimated to be $663.1 billion.
- In 2017, the global home decor market size was estimated to be $582 billion.
- The CAGR was estimated to be 6.74% for the two years.
- In 2019, the North America home decor market size was estimated to be $266.84 billion.
RESEARCH STRATEGY
To locate the United States home decor market size, we began by combing through market reports, press releases, and industry whitepaper. While we were able to locate the global home decor market size, there was no information regarding the United States home decor market size.
Next, we went further by researching government websites like the US Trade and Investment websites and the US International Trade Administration websites for information regarding the home decor market size as available in the public domain. This strategy was unsuccessful as information found were referencing trade policies, capacity building, and the US trade agreements with sub-Saharan African countries. There was no information regarding the home decor market size.
Our research team resorted to finding the North American home decor market size to triangulate the value for the United States from there. While we were able to locate the North America market share, there was no publicly available information regarding the North America market size. Therefore, we were forced to locate the global home decor market size and attempt to triangulate the value for the United States from it.
Lastly, our research team attempted to triangulate the United States home decor market size by locating the United States market share in the North America region. This strategy was successful as we were able to locate the United States market share of the North America region for the home decor industry.
ASSUMPTION
- Based on publicly available information, our research team assumed that the North America share of the global home decor industry for 2018 remains the same in 2019 since the forecast for the global market is from 2019 to 2025, and also, North America holds the largest share in the world.
- Again, we assumed that the United States market share of the North America region for 2017 remains the same in 2019 since the United States was reported to hold the largest share and also, experiencing the highest growth in that region.
CALCULATIONS
Global home decor market size in 2019 = [$663.1 billion + ($663.1 billion x 0.0674)] = $707.79 billion.
North America home decor market size = Global home decor market size x 37.7%
North America home decor market size = $707.79 billion x 0.377 = $266.84 billion
United States home decor market size = North America home decor market size x 68.1%
United States home decor market size = $266.84 billion x 0.681 = $181.72 billion.