Page 46 - Print21 magazine Mar-Apr 2023

| MARKETS | INTERIORS
Interior opportunities
As the global wide format print show Fespa prepares to open its doors, Debbie Keegan looks at the forces driving the monumental shift to on-demand interior décor, providing a world of opportunity for printers.
The digitisation of the interior decoration industry is advancing in line with key market trends across
the sector. As the supply chain flexes and shifts to meet a new manufacturing paradigm for decoration – that is: business models that deliver creativity, stability and agile fulfilment – the interiors industry is shifting to on-demand production and offers the print industry a viable and expanding opportunity.
So what is driving this monumental market shift? Customisation and personalisation are in high demand, forcing the industry to adapt. This requires the on-boarding of a whole suite of technologies – print, automation
and eCommerce. Décor was once a stock-based business model, this is no longer an advantage.
On-demand production technology now facilitates just
in time manufacturing – a key component for commercial
success. Industrial production technologies continue to advance, and print volumes are predicted
to increase in the years ahead. The democratisation of the sector is
now well underway, with many new businesses entering the marketplace at all scales.
The analysts predict a bright future for the décor industry.
Maximise Market Research predict that the global home decor market, valued at US $665bn
in 2021, is expected to reach
ABOVE
One-pass personalised wall coverings: Canon Colorado system
RIGHT Printeriors:
A key part of Fespa this year
US$904bn by 2029, with a solid CAGR of 4 per cent during the forecast period.
In January the Business Research Company stated that the global home décor market will grow from $652bn in 2022 to $684bn this year, and they also say that going forward it will grow at a compound annual growth rate 4.9 per cent. Looking ahead, they predict that the home décor market size is expected to grow to $789bn in 2027.
The Russia-Ukraine war has significantly disrupted the chances of global economic recovery from the Covid-19 pandemic, at least in the short term.
Meanwhile in December, Research and Markets (looking specifically at wall decoration)
46 MARCH/APRIL 2023