Key regions: India, France, United States, Canada, Denmark
The Home Décor market in Australia & Oceania is experiencing steady growth and development. Customer preferences are shifting towards more sustainable and eco-friendly products, with a focus on natural materials and minimalist designs. This trend is driven by a desire for a more environmentally conscious lifestyle and a growing awareness of the impact of consumer choices on the planet. Additionally, there is a growing interest in supporting local artisans and businesses, leading to an increased demand for handmade and locally sourced home décor products. In terms of trends in the market, there is a growing popularity of bohemian and coastal-inspired designs, reflecting the region's unique natural landscapes and laid-back lifestyle. Customers are increasingly seeking to bring the outdoors inside, with a focus on incorporating natural elements such as plants, rattan furniture, and organic textiles into their homes. Additionally, there is a growing interest in statement pieces and unique, one-of-a-kind items that add character and personality to living spaces. Local special circumstances in Australia & Oceania play a significant role in shaping the Home Décor market. The region's diverse cultural heritage and indigenous art traditions contribute to a rich and vibrant market, with a wide range of unique and culturally significant home décor products. This diversity is reflected in the market's offerings, with a variety of styles and designs available to cater to different tastes and preferences. Underlying macroeconomic factors also contribute to the development of the Home Décor market in Australia & Oceania. The region's strong economic growth and rising disposable incomes have led to an increase in consumer spending on home décor products. Additionally, the growth of e-commerce and online retail platforms has made it easier for customers to access a wide range of home décor products, including those from international brands and designers. In conclusion, the Home Décor market in Australia & Oceania is experiencing growth and development driven by
Customer preferences: for sustainable and eco-friendly products, as well as a desire to support local artisans and businesses. The market is characterized by a focus on natural materials, minimalist designs, and a blend of bohemian and coastal-inspired styles.
Local special circumstances: such as the region's cultural diversity and indigenous art traditions, contribute to a rich and vibrant market.
Underlying macroeconomic factors: including strong economic growth and the growth of e-commerce, also play a role in shaping the market. Overall, the Home Décor market in Australia & Oceania is poised for continued growth and innovation 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 segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.
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