Home Décor - Asia | Statista Market Forecast

In 2024, the revenue in the Home Décor market Segment in Asia amounts to US$40.26bn.
This market is projected to grow annually by 5.02% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$35bn in 2024.
In terms of per person revenues, in 2024, each individual in Asia generates US$8.86.
In Japan, minimalistic and traditional designs dominate the home décor market, reflecting the country's cultural emphasis on simplicity and harmony.

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 Asia has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Home Décor market in Asia have shifted towards more modern and minimalist designs, reflecting a desire for simplicity and functionality. Asian consumers are increasingly drawn to clean lines, neutral colors, and natural materials in their home décor choices. This preference for minimalism is influenced by global design trends, as well as the cultural value placed on simplicity and harmony in many Asian societies. Trends in the Home Décor market vary across different countries in Asia. In China, for example, there is a growing demand for luxury and high-end home décor products, driven by the country's rising middle class and increasing disposable income. Chinese consumers are willing to invest in premium brands and unique designs that showcase their wealth and status. On the other hand, in countries like Japan and South Korea, there is a strong emphasis on functionality and space-saving solutions due to limited living spaces in urban areas. This has led to an increase in demand for compact and multifunctional furniture and home accessories.

Local special circumstances: also play a role in shaping the Home Décor market in Asia. For instance, in India, there is a rich tradition of craftsmanship and handwoven textiles, which has influenced the demand for artisanal and handmade home décor products. Indian consumers appreciate the uniqueness and cultural heritage associated with these products, and are willing to pay a premium for them. Similarly, in Southeast Asian countries like Indonesia and Thailand, there is a growing interest in traditional and ethnic-inspired home décor items, as consumers seek to showcase their cultural identity and heritage. Underlying macroeconomic factors have also contributed to the growth of the Home Décor market in Asia. Rapid urbanization, rising disposable incomes, and a growing middle class have created a larger consumer base with more purchasing power. As people move into cities and improve their living standards, they are more likely to invest in home décor to create a comfortable and aesthetically pleasing living environment. Additionally, the rise of e-commerce and online shopping platforms has made it easier for consumers to access a wide range of home décor products, driving market growth. In conclusion, the Home Décor market in Asia is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. As Asian consumers increasingly prioritize simplicity, functionality, and cultural heritage in their home décor choices, the market is expected to continue expanding 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.