Home Décor - Belize | Statista Market Forecast

In Belize, the revenue generated in the Home Décor market Segment is recorded at US$2.43m in 2024.
It is projected that this market will experience an annual growth rate of 0.84% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads in terms of revenue generation, reaching a staggering US$35bn in 2024.
Considering the population size, the per person revenue in Belize amounts to US$5.84 in 2024.
Belize's home décor market is embracing vibrant, tropical designs inspired by the country's rich natural beauty.

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 Belize is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Home Décor market in Belize are shifting towards more modern and contemporary designs. Customers are increasingly looking for sleek and minimalist furniture and accessories that reflect their personal style and taste. This trend is driven by the influence of social media and the desire to create aesthetically pleasing living spaces. Additionally, customers are becoming more conscious of sustainability and are seeking eco-friendly and ethically sourced products in their home décor choices. Trends in the Home Décor market in Belize include the rise of online shopping and the increasing popularity of diy home improvement projects. With the advancement of technology, customers now have access to a wide range of home décor products and inspiration at their fingertips. This has led to a surge in online home décor retailers and marketplaces, providing customers with convenience and a greater selection of products. Furthermore, the diy trend has gained momentum as customers are taking on home improvement projects themselves, leading to increased sales of home décor products.

Local special circumstances: in Belize also contribute to the development of the Home Décor market. Belize is known for its rich cultural heritage and diverse ethnic influences, which are reflected in the country's home décor styles. Customers in Belize often prefer home décor items that showcase their cultural identity, such as traditional handicrafts and artwork. This creates a unique market for locally made home décor products and supports local artisans and businesses.

Underlying macroeconomic factors: play a significant role in the growth of the Home Décor market in Belize. The country's stable economy and increasing disposable income levels have allowed customers to spend more on home décor products. Additionally, the growing tourism industry in Belize has attracted international visitors who are interested in purchasing unique and authentic home décor items as souvenirs. This has created opportunities for local businesses to cater to the demand of both domestic and international customers. In conclusion, the Home Décor market in Belize is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers in Belize increasingly seek modern and contemporary designs, online shopping and diy projects become more popular. The country's cultural heritage and stable economy also contribute to the unique market for home décor products.

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.