If you want to know more about some exciting Canadian and global home decor industry statistics, you’re in the right place. We compiled some stats that will prove helpful to anyone looking to know more about the industry or those already in it who just want a better overview.
Top 10 Home Decor Industry Statistics 2022
- The global home decor market is forecast to grow at a CAGR of 3.9% from 2021 to 2027.
- The average revenue of small to mid-size enterprises (SMEs) was $796,000 in 2019, home decor industry statistics for Canada show.
- The average revenue per unit (ARPU) is expected to amount to US$1,071.02.
- User penetration for the home decor market is forecast to be 22.7% in 2022.
- The home furnishing stores in Canada employed 25,522 people in 2021.
- Vintage is the most promising style in home decor for 2022.
- Periwinkle blue is Pantone’s colour for the year 2022.
- The lighting market generated US$118.33 billion in 2019.
- LEDs became the leading global solution for lighting.
- The most popular home accessories in 2021 were house plants.
Global Home Decor Industry Statistics
It’s high time we learned the ins and outs of the global home decor industry. Read on to discover all about its current standing as well as the prospects.
1. The global home decor market is forecast to grow at a CAGR of 3.9% from 2021 to 2027.
(Allied Market Research)
The global home decor market was worth US$616.6 billion in 2019. The trends in home decor tell us that the market size will only grow. With an estimated CAGR of 3.9%, it will reach US$838.6 billion by 2027.
2. The floor coverings segment will grow at a CAGR of 4.0% from 2021 to 2027.
(Allied Market Research)
The floor coverings segment is a seemingly small part of the home decor industry. Still, home decor product trends beg to differ. With a sizable CAGR of 4.0%, it is bound to prompt the industry’s growth in the next few years.
3. The ecommerce segment of the home decor market will grow at a CAGR of 4.4% in 2021–2027.
(Allied Market Research)
The segment is forecast to record the highest growth, ecommerce home decor statistics reveal. It might be prompted by the increase in penetration of the internet and the ever-increasing use of smartphones for shopping online. The two make it easier for consumers to compare deals in real-time and make fully informed purchasing decisions.
Home Decor Industry Figures in Canada
We now suggest that you take a deeper dive into the industry’s standing in Canada. Learn all about its growth estimates as well as the number of people employed in the field. Dive right in!
4. User penetration for the home decor market is expected to be 22.7% in 2022.
(Statista)
User penetration rates show us how successful the selling of goods is in a specific market. The current user penetration rates for the Canadian home decor market are reasonable, but they are set to grow substantially in the years to come. The latest market trends for home decor tell us that user penetration will reach 25.8% by 2025.
5. The average revenue per unit (ARPU) of the Canadian home decor market is expected to amount to US$1,071.02.
(Statista)
Many don’t know these home decor facts, but the average revenue per unit or the average revenue per user is a measure that represents the total revenue of an industry divided by the number of units or users. For comparison, the ARPU of the American home decor market is virtually identical — US$1,701.49.
6. Quebec and Nova Scotia recorded the biggest home decor GDP growth in 2018–2019.
(Government of Canada)
In other words, the GDP grew by 6.9% in Quebec and 5.9% in Nova Scotia. Most provinces and territories experienced negative change, with the worst figures recorded in Northwestern Territories, where the GDP fell by 21.2%, the latest home decor industry trends show.
7. The average revenue of small to mid-size enterprises (SMEs) was $796,000 in 2019, home decor industry statistics for Canada show.
(Government of Canada)
According to these key industry stats, the annual revenues of these businesses start as low as $30,000 and go as high as $5,000,000. The numbers may be small, but it’s important to mention that as many as 69.7% of these SMEs are profitable.
8. The home furnishing stores in Canada employed 22,522 people as of November 2021.
(IBISWorld)
According to the latest home decor demographics, all of these employees work across 4,457 stores. Furthermore, the market size of the whole Canadian home furnishing store industry was valued at $4 billion.
Home Decor Trends To Be on the Lookout For
Learn what is really in and what is most likely to make it to our shelves, ceilings, and walls this year. We’ve collected the most interesting trends for you to keep an eye on!
9. The trends for 2022 involve using a maximalist approach in home decor.
(Homes And Gardens)
The 2021’s style turned to maximalist approaches for home decor solutions. Mixing yet harmonizing colours and conflicting patterns is its foundation.
10. Wall-coverings and bold palettes ruled the 2021 interior design.
(Homes And Gardens) (PureWow)
The process usually involved picking a few vibrant colours against an otherwise muted palette. As for wall coverings — they featured peaceful, tropical, mural-like illustrations.
However, the autumn of 2021 certainly brought about a smooth transition into more subdued, earthly-toned, vintage, and cozy colour palettes, marking the home decor market trends.
11. Vintage is the most promising style in home decor for 2022.
(House Beautiful)
First, it is a “greener” approach, as it deals with recycling older decor items. Second, it also brings up highly sought-after characteristics set by market trends for home decor.
12. Periwinkle blue is Pantone’s colour for the year 2022.
(Pantone)
Instead of 2021’s gray and butter yellow, 2022 will be dominated by blue. This beautiful shade of blue with violet-red undertones is the perfect choice for many design areas. It is an ideal addition to monochromatic spaces for a vibrant yet still subdued pop of colour.
Generally, the colour blue made its way into interior design quite some time ago. For instance, it remains the colour of choice among numerous financial institutions.
13. Black will still be a popular accent colour in 2022.
(House Beautiful)
Black is one of the favourite colours on the luxury home decor market. It’s been a staple in home decor for decades, and it doesn’t seem like it will be going away soon. It’s a perfect fit for minimalistic interior designs. Furthermore, it also makes for an excellent accent for spaces of lighter colours and blends well with darker designs.
14. Japandi style is one of the leading 2022 design trends.
(The Spruce)
This unique and beautifully simple style brings together the best of Japanese and Scandinavian designs. It’s characterized by a muted colour palette that emphasizes natural lighting, simple lines, and houseplants.
Overall, the home decor statistics forecast a shift towards more natural and sustainable designs in 2022, so the spike of interest in this style should come as no surprise.
15. Curvaceous furniture is one of the designers’ favourite trends.
(The Spruce)
Designers’ other choices for potential 2022 trends also include bringing back ‘70s influence into mainstream design and using sustainable and repurposable pieces of decor.
16. The look of unfinished wood will be a flooring trend in 2022.
(Woodpecker Flooring)
Everything points to a more natural approach in the home decor industry trends. Following that, engineered wood flooring is experiencing the most notable increase in demand at the moment.
One of its perks is being a more sustainable option than solid wood. What’s more, it is heat-resistant.
17. The most popular home accessories in 2021 were house plants.
(MyDomaine)
According to research conducted on Instagram, house plants took first place on the list of popular home decor items. Following them were gallery walls with more than 917,000 posts, neon signs with over 650,000, and upcycled furniture with more than 320,000 posts.
Home Lighting Decor Statistics
Lighting can make or mar one’s home decor. This essential piece of home decor has always made ripples in the industry. Learn where it’s at these days and what the future has got in store for it.
18. The global lighting market generated US$118.33 billion in 2019.
(Fortune Business Insights)
Due to people spending more time at home because of the pandemic, the overall demand for home decor items has only increased. The global lighting market is forecast to continue growing at a CAGR of 4.3% by 2027.
19. LEDs became the leading global solution for lighting.
(IEA)
Globally, more than 50% of buildings sector lighting markets are covered by LEDs. Other than that, LED lights have also found their place in home decor. These lights offer a perfect mix of an aesthetically pleasing design, high-quality lighting, and sustainable usage, making them an ideal solution for many.
20. In 2021, less was more with home decor lighting.
(Architectural Digest)
Words that perfectly describe the home decor trends in terms of lighting are “simple,” “serene,” and “humble.” The designers are returning to a more stripped-down, classic approach with simpler materials.
21. Lighting trends for 2022 will combine functionality with looks.
(Homes And Gardens)
The year 2022 is when the lighting will shine through. It will return to the center of attention, with lights becoming the main focus of the interior design.
This year will also bring sculptured and artful lights, which can create a cozy and homey ambience depending on the shape of the lighting object and its position in the room.
Conclusion
The prospects of the home decor industry seem to be promising. No matter the segment, the market is forecast to grow significantly in the foreseeable future. What’s more, the upcoming trends make following the industry much more exciting.
FAQ
What does home decor include?
Home decor is short for home decoration. It includes everything that has to do with aesthetic or functional home improvement. The items in the home decor industry include furniture, art, wall and window coverings, flooring, ceiling, and accessories.
(Decor Snob)
How much is the home decor industry worth?
The global home decor industry was valued at US$616.6 billion in 2019, and it will likely reach US$838.6 billion in 2027.
Canada represents a small yet noticeable part of this global industry, and it’s currently valued at US$4 billion.
(Allied Market Research) (IBIS World)
What is the CAGR of the home decor market?
The global home decor market is expected to grow at a CAGR of 3.9% from 2021 to 2027. In other words, according to home decor industry statistics, it might amount to US$838.6 billion by 2027.
(Statista)
Sources:
- Allied Market Research
- Architectural Digest
- Decor Snob
- Fortune Business Insights
- Government of Canada
- Government of Canada
- Government of Canada
- Government of Canada
- Government of Canada
- Government of Canada
- Homes And Gardens
- Homes And Gardens
- IBIS World
- IEA
- MyDomaine
- Pantone
- Pantone
- PureWow
- Statista
- Statista
- The Spruce
- The Spruce
- Woodpecker Flooring
- Ycharts
- Ycharts
Dusan Trickovic
An eye for aesthetics and a passion for writing and technology are both parts of Dusan’s essence. He is a curious spirit with an appreciation for a well-written story and pop and indie-folk music, undying love for cats and deep knowledge of Taylor Swift’s lyrics. He discovered his passion for writing at a young age. Dusan’s creativity has been unlimited ever since, prompting him to compose various pieces one word at a time.
