Published October 6, 2023
IMARC Group, a leading market research company, has recently releases report titled, “GCC Home Decor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the GCC home decor market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the GCC home decor market?
The GCC home decor market is projected to exhibit a growth rate (CAGR) of 5.40% during 2023-2028.
GCC Home Decor Market Trends and Drivers:
The Gulf Cooperation Council (GCC) home decor market is primarily driven by the substantial economic growth of the oil and gas industry. In addition, rapid urbanization and the rising disposable incomes among consumers allow them to invest more in enhancing their living spaces, with expanding cities escalating the demand for home decor products influencing market growth. Moreover, the proliferation of e-commerce platforms has made home decor products more accessible to a wider audience, allowing consumers to explore and purchase from numerous options from the comfort of their homes, overcoming geographical constraints and offering a convenient shopping experience, representing another major growth-inducing factor. Besides this, the growing popularity of social media channels such as Instagram and Pinterest is transforming how consumers perceive and interact with home décor, thus accelerating the market growth. Furthermore, the rise of interior design influencers and online platforms showcasing numerous decor styles inspires consumers to adopt and experiment with various trends, thereby escalating the demand for new and innovative decor products across the region.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Home Furniture
- Home Textiles
- Wall Decor
Distribution Channel Insights:
- Home Decor Stores
- Supermarkets and Hypermarkets
- Online Store
- Gift Shops
Breakup by Region:
- Saudi Arabia
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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