Canada Home Decor Market Insights Forecasts to 2033

• The Canada Home Decor Market Size was valued at USD 5.19 Billion in 2023
• The Market Size is Growing at a CAGR of 3.38% from 2023 to 2033.
• The Canada Home Decor Market Size is Expected to Reach USD 7.24 Billion by 2033.

The Canada Home Decor Market size is expected to reach USD 7.24 Billion by 2033, at a CAGR of 3.38% during the forecast period 2023 to 2033.     

Market Overview

The arrangement of tangible objects in a decorative way on walls, ceilings, furniture accessories, and room colors is known as home decor. It can be summed up as thoughtfully arranging décor items in a systematic way to provide a comfortable, approachable atmosphere. A home can be made more aesthetically pleasing and appealing by adding home decor. Canada's home decor industry is a vibrant blend of varied design sensibilities, shifting customer tastes, and cultural influences. Canada, a nation renowned for its expansive landscapes, varied populace, and bustling urban areas, has a booming home décor industry that reflects the diversity and vibrancy of its people. Canadian homes showcase a diverse array of designs, tastes, and lifestyles, ranging from the chic modern interiors of Toronto's downtown area to the quaint rustic hideaways of the Canadian Rockies. The discerning consumer base that appreciates quality, craftsmanship, and innovation is catered to by the Canadian home decor sector. Due to the rapid urbanization of society, Canadian consumer preferences have shifted in favor of urban lifestyles, fueling the Canada home decor market's growth. A shift in lifestyle demands that furniture and other furnishings composed of superior, high-end products be arranged appropriately.

Report Coverage

This research report categorizes the market for the Canada home decor market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada home decor market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada home decor market.

Driving Factors

The comparatively high level of life and steady economy of Canada fuel a robust market for home decor items. Canadians are increasingly likely to invest in remodeling and decorating their houses as disposable incomes rise and consumer confidence stays steady. Demand for home decor items is strongly impacted by activity in the housing sector, which includes house sales, new buildings, and improvement projects. Both homeowners and renters are looking for furniture and decorative accents to add flair and individuality to their living areas as the housing market grows. The expanding urban population in Canada is driving up demand for home design items in urban regions. The need for furniture, furnishings, and decorative accessories to furnish and adorn smaller living areas is growing as more people migrate into cities and apartments. These reasons are contributing to the notable growth of the home décor market in Canada.

Restraining Factors

Products for home décor are typically expensive, making them out of reach for customers of all income levels. Furthermore, the cost of raw materials for products like leather and wood is considerable, and the price of these commodities varies according to their availability. The Canada home décor market is being restrained by all of these causes.

Market Segment

• In 2023, the home furniture segment accounted for the largest revenue share over the forecast period.

Based on type, the Canada home decor market is segmented into home furniture, home textiles, flooring, wall decor, lighting, and others. Among these, the home furniture segment has the largest revenue share over the forecast period. This is because a large number of millennials are getting ready to purchase their first homes in the coming years. In addition to being among the top ten furniture producers in the world, Canada is renowned for its carved and specialty wood furniture production. Over the course of the projection period, the home furniture segment is expected to experience significant expansion in Canada home décor market, mostly due to the increased demand for furniture due to consumer spending capacity and the channelized process of production, distribution, and sale.

• In 2023, the indoor segment is witnessing significant growth over the forecast period.

Based on application, the Canada home decor market is segmented into indoor, and outdoor. Among these, the indoor segment is witnessing significant growth over the forecast period. quantity of time spent indoors, the value placed on furnishing a fashionable and comfortable home, the possibility of long-term usage of indoor furniture and décor, and the cooler climate in Canada are all major contributing factors.

• In 2023, the home decor stores segment accounted for the largest revenue share over the forecast period.

Based on distribution channels, the Canada home decor market is segmented into home decor stores, supermarkets and hypermarkets, online stores, gift shops, and others. Among these, the home decor stores segment has the largest revenue share over the forecast period. Home décor stores are the industry leaders in Canada because they provide a carefully chosen assortment together with extensive product expertise and design guidance. This meets the needs of the increasing number of Canadians who value unique and fashionable residences. Additionally, they provide a greater selection of brands, pricing points, and home design styles, catering to a variety of interests and price ranges.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada home decor market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• MAPA interiors inc.
• Bouclair
• Inform interiors
• Cottage industry
• Homesense
• Dufresne Furniture
• EQ3
• Umbra
• Cutler
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2023, a pioneer in contemporary POS technology and omni-channel commerce revealed that PredictSpring's modern POS has been fully integrated into every retail store of Bouclair, the well-known Canadian brand of home furnishings and décor. Bouclair's customers enjoy a flawless customer and retail associate experience across all channels used to PredictSpring's cutting-edge POS software.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Canada Home Decor Market based on the below-mentioned segments:

Canada Home Decor Market, By Type

• Home Furniture
• Home Textiles
• Flooring
• Wall Décor
• Lighting
• Others

Canada Home Decor Market, By Application

• Indoor
• Outdoor

Canada Home Decor Market, By Distribution Channel

• Home Decor Stores
• Supermarkets and Hypermarkets
• Online Stores
• Gift Shops
• Others