Home Improvement Market Overview, Trends, Opportunities, Growth and Forecast 2022-2027

According to IMARC Group’s latest report, Home Improvement Market: Global Industry Trends, Share, Size, Growth, Opportunities, and Forecasts 2022-2027, the global market is worth $682 billion in 2021.Home decor involves a variety of products used to decorate an apartment or house.It mainly includes household furniture, textiles, lamps, floor coverings, flower pots, candles, handicrafts, furniture, etc.Home decor is an effective way to portray the lifestyle consumers believe in and make the home more attractive and organized.
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Rapid urbanization and rising consumer income levels have primarily driven the growth of the home improvement market.In addition, the expanding construction and real estate industry has led to an increase in the number of new households, which in turn has a positive impact on the demand for home improvement products.In addition to this, with increasing concern for the environment, manufacturers are developing eco-friendly products to reduce carbon emissions.They also work with interior designers to offer consumers a wide range of custom home décor items.Furthermore, the increasing adoption of online retail channels by several brick-and-mortar home improvement stores to expand their consumer base is expected to further drive the market growth in the coming years.Looking ahead, IMARC Group expects the home improvement market to reach $898.3 billion by 2027, growing at a CAGR of 4.8% from 2022-2027.
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