by The global Decorative Shelves Market is estimated to be valued at US$ 6.26 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Decorative shelves are designed to enhance the aesthetics as well as organization of living and work spaces. They can be used to display pictures, curios, books and other items in an elegant manner. With rising disposable income, people are increasingly investing in decorative home furnishing items like shelves to enhance the look of their homes and offices.
Market key trends:
Wood has emerged as the top preferred material for decorative shelves owing to its rich look and feel. Engineered wood like MDF and particleboard is widely used due to its affordability and stability compared to solid wood. Another key trend is the rising popularity of open shelving system which displays items neatly without the use of doors. Customization is also a major trend with consumers opting for shelves in unique designs, finishes and styles matching their interior decor. Modular shelving that can be reconfigured as per changing needs is gaining traction in the market.
Segment Analysis
The global decorative shelves market is segmented by material, design, end user and distribution channel. By material, the metal decorative shelves segment dominates the global decorative shelves market owing to properties of metal decorative shelves like durability and strength. By design, the closed decorative shelves segment dominates as such designs provide complete protection and security of valuables placed on the shelves. By end user, the residential decorative shelves segment dominates and is expected to witness high growth over the forecast period due to rising home décor trends and growing demand for organizing home space efficiently. By distribution channel, the offline decorative shelves segment dominates however, the online decorative shelves segment is expected to witness highest growth over the coming years.
Key Takeaways
The global Decorative Shelves Market Demand is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing demand for home décor products and growing trend of DIY home decoration projects.
Regional analysis- Asia Pacific decorative shelves market accounts for largest share currently and is expected to witness highest growth over the forecast period owing to rapid growth of real estate sector and rising disposable incomes in countries like India and China.
Key players operating in the decorative shelves market are IKEA, Crate & Barrel, Wayfair, Amazon, Target, Walmart, AtHome, Ashley Furniture, Ethan Allen, Home Depot, Loweâ€TMs, Bobâ€TMs Discount Furniture, Pier 1 Imports, Made.com. Ikea dominates the global decorative shelves market with largest market share owing to its wide product portfolio and strong supply chain globally. Wayfair is growing at fastest pace in the online decorative shelves segment.
The global decorative shelves market size is expected to reach US$ 8.52 Bn by 2030, expanding at a CAGR of 7.9% during the forecast period. Ease of installation and multifunctional uses of decorative shelves is driving their demand globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
