Home Décor - Australia & Oceania | Statista Market Forecast

In Australia & Oceania, the Home Décor market Segment generates a revenue of US$2.09bn in 2024.
It is projected to experience an annual growth rate of 2.53% (CAGR 2024-2029).
When compared globally, United States leads the market with a revenue of US$35bn in 2024.
On a per-person basis, the revenue generated in 2024 amounts to US$48.18.
The demand for indigenous Australian artwork in the home décor market is experiencing a resurgence, reflecting a growing appreciation for the country's rich 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 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 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.