Recently, market research firm Future Market Insights released a report that analyzed the global home improvement market from 2012 to 2016 and evaluated the leading product categories and potential opportunities for the home improvement market from 2017 to 2027.
According to Future Market Insights, the global home improvement (including furniture, textiles and flooring) market is on the rise for the following reasons:
(1) The world's private housing stock is increasing, especially in developing countries.
(2) The expansion of real estate market is another factor to promote the rapid growth of home decoration market.
(3) The globalization of the market has made it easy for people to access various new home designs and home accessories from all over the world, thereby promoting the development of the home market.
(4) The rise of retail e-commerce market and the price of home decoration items such as furniture are more favorable, making people more affordable. Many consumers are willing to visit the home e-commerce site to buy home accessories to dress up their own home.
(5) Other factors that promote market development include increasing disposable income and improving people's lifestyle. However, apart from these promotion factors, there are some reasons that are limiting and leading to a slowdown in the market growth of home decoration products, such as rising prices of raw materials such as wood and leather.