The Latin America, Middle East and Africa Sustainable Home Decor Market would witness market growth of 7.1% CAGR during the forecast period (2022-2028).
The demand for eco-friendly home furnishings has been growing in emerging economies as the middle to the upper middle class is expanding. Additionally, the rise of the business is fueled by increased consumer disposable income in both established and emerging nations. Furthermore, aggressive marketing campaigns and celebrity endorsements have significantly contributed to the growth of the industry.
The increase in sustainable interiors from the residential sector is also being driven by an increase in the adoption of eco-friendly housing projects by businesses in nations like Australia, China, Singapore, the United States, and Canada due to client demand as well as the prominence of environmental regulations. The use of ecologically friendly furniture and other furnishings in the commercial and residential sectors is greatly boosted by this situation. Leading business executives predict that the market for sustainable home décor will grow significantly over the forecast period due to growing consumer interest in the concept of sustainable home decor.
In this region, the sustainable home decor sector is undergoing rapid development. It is due to the fast-rising number of Multinational Companies (MNCs) that are being established and the soaring job prospects, which are fuelling the demand for office spaces and furniture. The green building projects across the region bolster the expansion of the sustainable home decor market. The rise of e-commerce and online retailing are the forces behind the expansion of the market in this region.
The Brazil market dominated the LAMEA Sustainable Home Decor Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $8,335.8 million by 2028.The Argentina market is experiencing a CAGR of 7.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 6.8% during (2022 - 2028).
Based on Price Point, the market is segmented into Mass and Premium. Based on Distribution Channel, the market is segmented into Specialty Stores, Supermarket/Hypermarket, Ecommerce and Others. Based on Income Group, the market is segmented into Higher Income, Upper Middle Income and Lower Middle Income. Based on Product Type, the market is segmented into Floor Covering, Furniture and Home Textile. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Sustainable Home Decor Market is Predict to reach $415.7 Billion by 2028, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Armstrong World Industries, Inc., Mohawk Industries Inc., Inter IKEA Systems B.V., Herman Miller, Inc., Forbo Management SA, Kimball International Inc., Ashley Furniture Industries, LLC, Cisco Brothers Corp., Duresta Upholstery Ltd., and Greenington Fine Bamboo.
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