Home Décor - Albania | Statista Market Forecast

In Albania, the revenue in the Home Décor market Segment reaches a total of US$40.82m in 2024.
This market is projected to experience an annual growth rate of 3.00% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue with US$35bn in 2024.
Taking into account the total population, each person in Albania generates revenues of US$14.44 in 2024.
Albania's home décor market is experiencing a surge in demand for traditional handmade rugs, reflecting a growing appreciation for local craftsmanship and cultural heritage.

Definition:

The Home Decor segment includes a variety of accessories and furnishings used to make a space more aesthetically appealing. Items in this segment can be found in virtually every room within the home and are typically used to showcase one’s unique style and creativity.

Structure:

The Home Decor segment is divided into four subsegments:

The Decorations subsegment refers to a variety of decorative items that are used to enhance the aesthetics of indoor spaces, such as wall art, decorative objects, vases, and sculptures
The Carpets & Rugs subsegment refers to products designed to cover and enhance the flooring of indoor spaces. These products range from large area rugs to small accent rugs, and are available in a variety of materials, colors, patterns, and textures, providing both functional and aesthetic value to the space.
The Candles subsegment covers decorative and aromatic wax-based products that are commonly used to provide mood lighting and fragrance to indoor spaces.
The Curtains & Blinds subsegment includes products designed to cover windows and regulate the amount of light that enters a room. This segment encompasses a wide range of styles and materials, from traditional drapes and blinds to modern shades and screens.

Additional Information:

The Home Decor segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Candles
Curtains
Carpets & Rugs
Decorative Accessories

Flameless & Floating Candles
Shower Curtains
Smart Blinds
Clocks
Plants
Mirrors

The Home Décor market in Albania has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the Home Décor market in Albania have shifted towards more modern and contemporary styles, as consumers seek to create a stylish and comfortable living environment. There is a growing demand for sleek and minimalist designs, as well as a preference for high-quality materials and craftsmanship. Additionally, customers are increasingly looking for eco-friendly and sustainable home décor options, reflecting a global trend towards more environmentally conscious consumption.

Trends in the market: have also played a key role in the development of the Home Décor market in Albania. One notable trend is the rise of online shopping, which has made it easier for consumers to access a wide range of home décor products and compare prices. This has led to increased competition among retailers, as well as greater price transparency for consumers. Another trend is the growing popularity of diy (do-it-yourself) home décor projects, as consumers look for unique and personalized items to decorate their homes. This trend has been fueled by the availability of online tutorials and inspiration, as well as the desire for cost savings.

Local special circumstances: have also contributed to the growth of the Home Décor market in Albania. The country's improving economy and rising disposable incomes have allowed consumers to spend more on home décor products. Additionally, the growing number of urban dwellers and the increasing number of residential construction projects have created a larger customer base for the market. Furthermore, the influx of tourists in recent years has boosted demand for home décor products, as visitors seek to take home souvenirs and unique items that reflect Albanian culture and craftsmanship. Underlying macroeconomic factors have also played a role in the development of the Home Décor market in Albania. The stability of the country's political and economic environment has attracted foreign investment and encouraged business growth. This has led to increased competition in the market, as well as the introduction of new products and designs. Additionally, the country's integration into the European Union has opened up new opportunities for trade and export, allowing Albanian home décor companies to expand their reach and access new markets. In conclusion, the Home Décor market in Albania is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. As consumers in Albania increasingly seek modern and contemporary home décor options, retailers are responding by offering a wide range of products and styles. The rise of online shopping and diy projects has also contributed to the growth of the market. With the country's improving economy and favorable business environment, the Home Décor market in Albania is expected to continue its upward trajectory in the coming years.

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.