Picture Frame Market Size, Share & Trends Analysis Report By Type (Hanging Picture Frames, Tabletop Picture Frames), By Application (Personal Photos, Artwork, Others), By Material (Wood, Metal, Bamboo, others), By Distributional Channel (Online, Offline) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global picture frame market was valued at USD 9,300 million in 2022 and is expected to reach USD 10,500 million in 2023. It is projected to reach USD 14676.57 million in 2031 at a CAGR of 5.2%. Vacation snapshots, landscapes, art prints, family portraits, and others add beauty to a living space. Picture frames are used to display these pictures, enhancing the wall decoration. As the number of residential and commercial building increase, the demand for picture frame has also been witnessing an upward trend in recent years. Hanging frames and tabletop frames are two types of picture frames. Furniture is used to decorate homes, and often the walls remain undecorated. Pictures and artworks are used to decorate the walls of bedrooms, kitchens, bathrooms, hallways, offices, and restaurants. Picture frames are becoming a part of the renovation of commercial and residential buildings.

Market Dynamics

Drivers:
Demand for Personalization is Growing:
Increasingly, consumers desire personalized and distinctive picture frames that complement their interior design or serve as meaningful gifts. Companies such as Roma Moulding Inc. and Shandong Intco Recycling Resources Co., Ltd. have reacted by providing a vast array of customizable options.

E-commerce Expansion:
The proliferation of online purchasing platforms has created new opportunities for manufacturers of picture frames. Dunelm Group plc and Williams-Sonoma Inc., for example, have expanded their online presence, streamlining customers' frame perusing and purchasing processes.

Sustainability and Eco-friendly Practices:
In response to escalating environmental concerns, companies such as Shandong Intco Recycling Resources Co., Ltd. are actively promoting the use of recycled materials in picture frames in order to appeal to environmentally conscious consumers.

Restraint:
Competition and Sensitivity to Price: 
The market for picture frames is characterized by intense competition, which has increased consumer price sensitivity. Customers have numerous options to choose from in this highly competitive market, and their purchasing decisions are frequently influenced by price considerations. Consequently, companies operating in this market must carefully manage their pricing strategies in order to remain profitable and alluring to consumers.

Opportunities:

Digital Printing and Technology Integration: Companies such as HALBE-Rahmen GmbH demonstrate how adopting digital printing and technology integration can enhance product offerings and attract tech-savvy consumers interested in innovative frame solutions.

Expansion into international markets affords expansion possibilities. Companies such as Omega Moulding Inc. and International Moulding have entered global markets successfully by adapting their products to local tastes.

Product Line Diversification: Businesses can diversify their product lines by offering complementary products such as wall art, home décor, and photo printing services. Companies like Quality Glass, which offer a diversity of related products, have employed this strategy.

Regional Analysis

Abundant Forest Resources in U.S. Catering Demand for Wooden Picture Frames in North America

In North America, for the past few years, the market witnessed swift growth in the demand for wooden picture frames as they can be customized easily and are cheaper than others. According to the Food and Agriculture Organization, the U.S. is the second-largest wood product importer in the world. Alongside, with abundant forest resources and high consumption of wood, the United States plays a vital role in spurring the demand for wood-based products in the market. Small picture frame manufacturers such as ‘Framebridge’ and ‘Frame Warehouse’ in the region are joining forces with online retailers like Amazon to sell the picture frame products, which presents a growth opportunity for small players to cater to a vast and diversified customer base. Retailers and e-commerce sites in the region are holding a significant market share in home decor products. 

‘Made in Europe’ to Spur Market Demand

In Europe, the demand for tabletop picture frames is expected to experience considerable growth as consumers are focusing more on personalizing the home décor. ‘Made in Europe’ is trending in Eastern Europe and is significantly influencing the marketing of imported products. Additionally, consumers still prefer traditional craftsmanship (wood or metal) for interior decoration. This further helps the local manufacturers to expand the business, where labor costs are still relatively low and production is high. According to the CBI Ministry of Foreign Affairs, Eastern European retailers import directly from the emerging countries to garner an extra profit margin. The same source says, most of home decorative objects are imported from Europe, while Germany and the U.K have become the sweet spot for picture frame and mirror frame exporters. Some of the notable retailers in the region like Esprit, Zara, Fendo, and Missoni are gaining substantial market share by offering customized and fashionable home decors products. Germany is one of the prominent importers of the picture and frame mirror, followed by the United Kingdom. However, when it comes to imports from developing countries, the United Kingdom accounts for USD 60 million (71% of imports), and Germany for USD 43 million (43% of imports).

Flourishing E-Commerce Sector in Asia-Pacific

Asia-Pacific is expected to dominate the global picture frame market. The region is a prominent exporter of the home decor and wood products across the globe; the big retailers are supporting the local manufacturers to expand the portfolio. Walmart, a multinational retail company, launched a new home shopping site for furniture and home decor products. According to the Observatory of Economic Complexity (OEC), Asia-Pacific is a notable exporter of photographs, picture frames, and mirror products worth USD 255 million. The picture frame has been one of the popular consumer products for a decade now. The regional picture frame market is expanding at a staggering rate as emerging economies are also witnessing massive demand for home accessories and other related products. The regional e-commerce industry enabled seamless access to home décor products, offering money-spinning opportunities for manufacturers of all scale to showcase products on the online platforms and reach a vast consumer base. Hindustan Unilever Limited (HUL) started the Shakti initiative to empower women in the rural part of India. This is helping women to become financially independent and start their business in rural areas. Moreover, the company also introduced the Shaktimaan initiative in 2010 for the men to help the women by marketing and distributing handmade products such as picture frames. The burgeoning urban population in the region is one of the factors catalyzing the market growth.

Segmental Analysis

By Type:

Hanging picture frames accounted for the largest market share picture frame market. The hanging picture frames are traditionally popular for wall displays in homes and offices. They offer a classic way to showcase artwork, photographs, and memorabilia. 

By Material:

The "wood" material segment is expected to be the fastest-growing segment in the picture frame market. Wooden picture frames offer a timeless and rustic aesthetic. They are favored for their durability and the warmth they add to interior decor. Wood is a dominant material due to its popularity and versatility.

By Distribution Channel:

The "Online" distribution channel is expected to be the fastest-growing segment in the picture frame market. This growth is driven by the increasing popularity of online shopping, especially in response to the convenience it offers consumers. The ability to browse a vast selection, compare prices, and read reviews online has made e-commerce an attractive option for purchasing picture frames. As online retail continues to expand, this segment is likely to see sustained growth in the coming years.e 

Impact of covid-19

Unlike all other industries that had adverse effects of the Covid-19 pandemic, the IR camera market has seen significant growth in the said period. The growth was due to the increased use of thermal imaging devices to scan for elevated body temperatures of people during the Covid times.

In mid-2020, Infrared cameras Inc. (ICI) announced that the thermal imaging system that utilizes IR cameras is the best and safer way to get highly accurate data regarding surveillance and the temperature checks of a person for elevated body temperature. This is the only market segment that has been on the positive quadrant of the graph, even in the toughest time for the entire world. The major use of these IR cameras was made in the medical and healthcare industry during the Covid times, which contributed to a significant revenue generation.

Recent Developments

1. In July 2023, Shandong Intco Recycling Resources Co. Ltd acquired Larson-Juhl, a leading manufacturer and distributor of picture frames and mouldings. The acquisition aims to expand Intco's global presence and product portfolio in the picture frame market. Larson-Juhl will continue to operate as a separate entity under the Intco umbrella.
   
   
2. In Februrary 2023, Larson-Juhl, a subsidiary of Intco, launched a new collection of picture frames inspired by the art and culture of Japan. The collection, called Hiroshima, features four styles of frames made from sustainable wood sourced from Japan. The frames are designed to complement various types of artworks, from traditional paintings to modern prints.