designing, a minimalist approach of design with a subtle touch of bohemian and Scandinavian style of interior design, with mute colors and floral wallpapers are grabbing the attention of many people. Mainly such mid-century modern design combines with little flow of Chinese Feng Shui, where spatial positioning is related to energy flow or wabi sabi. Earthy surreal tones of wall colors like mauve, purple, brown, peach, off-shite are making the highest demand in the market this year.
The essence of Interior Design lies in aesthetic and chic style of home décor which indicates a new way of living. The flowing trends of interior design which are enriching the market value to a great extent are:
Eco-Friendly & Sustainable Interior Design Products: Sustainable fabrics such as jute and cane are trending for making chairs and sofa because of their non-toxic and eco-friendly nature. The economic report says that the sustainable home décor product is booming now-a-days and it is predicted to expand its sale very soon. After surviving the storming effect of deadly giant COVID-19, the whole nation has realized the value and significance of nature and natural resources. Sustainable home décor items are available in the market for decorating every part of your home starting from furniture to floor coverings including tiles, wood and laminates, to vinyl, rubber carpet and rugs. Rightly scrutinizing the market depending on few parameters like price point, income group, product type and region, the market value of sustainable home décor products are measured $330 billion in 2021 and it is reported to be expanded its growth till $525.96 billion by 2029 with a CAGR of 4 percent from 2022-2029.
Chandelier & Lampshades: From open-plan living areas to kitchen-dining zones, the trend for installing multifunctional lighting brings a touch of aesthetic luxury in the whole décor when it comes to home interior design. Whenever we design for our home interior, we think about designer lights which will add beauty to the set-up and grandeur to the whole look. The fashion of chandelier never goes out of fashion, right from the medieval period, a wide range of chandelier of different shapes and sizes are being used for home. Today, with the advent of new concepts of contemporary designs, new styles of chandelier and lampshades brought up in the market always remains in the list of highest selling home-décor products.
Till date, chandeliers were making the centerpiece of the home decor of rich homes, but after the Chinese infusion in the chandelier market, the Indian chandelier producing companies are offering these products at reasonable price to be profitable in the market and discovered the cheaper substitute of the raw materials so that their business remain profitable. As the result of this cut-throat competition to be on the race, designer pieces of lampshades and chandelier are being part of middle-class homes as well. The domestic market of chandelier and lampshade is around Rs.1000 crores and further growing at 35 percent. People are now opting for customized lighting with POP designs of false ceiling, with which lampshades and chandelier looks lavish. Present day, in Indian market, the price range of chandelier, lampshade, reading & ceiling lights are ranging from Rs.500 to Rs.50 lakh or even more. Whereas the global market size of lampshade and chandelier has reached $29.7 billion in 2022 and it is expected to grow $44.32 billion by 2028 with CAGR of 6.90 percent.
Laminates & Plywood Finish Interior: The importance of plywood and laminates has increased now-a-days because of its versatile uses and durability. Plywood and laminates are resistant to the impact of the different climatic calamities and also, they are durable and long-lasting, water moister and chemical resistant. In today’s advanced Furniture industry, top-rated materials like High Density High Moisture Resistance (HDHMR) and Medium Density Fiberboard (MDF) is used replacing the carpenter’s dexterous craftmanship. The price range of plywood and laminates varies depending on the thickness and quality.The furniture segment of laminates and plywood market is expected to grow at CAGR of 4.97 percent which will further touch $813.6 million by 2027 with a CAGR of 5.61 percent.
Curved Design of Sofa: If you really want to add little extra in your lavish lifestyle, and want to have something which is little different from the streamline design and products, you must go for a curve design of sofa in your living room. A curve angled sofa adds a glamorous grandeur to your home which will appeal all the eyes whoever takes a look over it. Instead of going for L shaped or convenient and widely used rectilinear sofas the curved ones with inward-turned edges enhances the beauty with encouraging the cozy session of gossip between you and your guests.The price range of such curved sofa is varying between Rs.30k to Rs.1lakh or even more depending on the size, design and raw materials. The Furniture market is expected to grow from $690.21 billion in 2022 to $886.68 billion by 2030 with CAGR of 3.2 percent.
Oblong Mirror: Mirrors are the true refection of the nature of environment and the person standing in front of it. It reflects the light from the surrounding and makes your home brighter and shinier even with a subtle touch of luxury.Mirrors are the most wanted artifacts which every fashionista would love to have in their room, if the mirrors are rich and elegant looking, it brightens up the whole dress up. With blending of European style of home-décor, Indian homes are being decorated with new designer mirrors of different shapes and sizes in which oblong and asymmetrical ones are gaining profit in the market.
Mirrors with golden edges or soft wooden edges are very famous in urban chic home décor having warm corner lights.The prices of this oblong mirror range between Rs.5000 to Rs.5 lakhs depending on the materials, shapes, sizes and antiqueness. Recently, with the flourishment of science and technology, smart mirrors have hit the market and are becoming the definite choices of majority of the urban homes. Oblong shaped fogless mirror is valued $388 million in 2021 and will grow with CAGR of 5.3 percent till 2030. Further, the market of smart mirror is growing & booming & valued 514.6 million in 2022 with CAGR of 8.8 percent from 2023-2030.
Luxury Flower Vases & Planters: Whatsoever is there in the interior, the significance of a sweet fragrant bunch of beauties in form of fresh flowers can never be denied. To decorate your cozy corner with flowers all you need is a luxury vase which will enhance the beauty of the flower giving the natural element an aesthetic touch. Flower vases available in the market in different shapes, sizes and prices depending on the material and finish. Indian homes are decorated with ceramic handprinted huge and small flower vases. Wooden vases are also famous which are cost-effective, durable and at the same time magnifies the beauty. With the floating concepts of contemporary chic home décor, metal toned, white tone with gold finished flower vases are snatching thelimelight in the market. The ordinary wooden vases range between 500 rupees to several thousands. Whereas, the metal vases are varied from thousand to several lakhs depending on their shapes, sizes, material and antique value.The global ceramic vase market value is expected to grow at CAGR of 6.6% from 2021-2030.