Decorative Lighting Market Size, Share, Growth Analysis, By Product(Ch, eliers, Sconce, Flush Mount), By Light Source(LED, Fluorescent, Inc, escent), By Application(Commercial, Household), By Region - Industry Forecast 2024-2031

Decorative Lighting Market Driver

• The growing influence of social media influencers and various home décor web series on consumers is increasing demand for various types of decorative lighting fixtures. Fixtures of various shapes, sizes, colors, and materials are required. Fiber fixtures are the most common, but glass, ceramic, bamboo, carved wood, and fabric fixtures are also popular.
• The decor of living space has always been thought to be a reflection of the owner. It helps in creating a statement about the taste, personality, and well-being of the proprietor. Decorative lighting is critical in achieving the aforementioned characteristics. Some popular designers' shift in focus to decorative lighting has simplified their application in homes, shops, malls, libraries, hotels, spas, parlors, restaurants, and washrooms.

Decorative Lighting Market Restraint

• Due to intense competition, companies are supplying consumers with inferior quality products. Companies are using defective raw materials for processing final products in order to keep up with competitors and lower market prices. The low quality discourages users from purchasing decorative lights and instead opting for traditional lamps or candles.
• The construction and real estate sectors are critical to the growth of the decorative lighting market. Both of these industries have experienced slow growth in recent years. The pandemic has further had an adverse effect on their growth. Slow growth in the real estate industry is expected to reduce demand and thus limit market expansion.