Home Décor - Benin | Statista Market Forecast

In Benin, the revenue generated in the Home Décor market Segment amounted to US$12.97m in 2024.
It is projected that the market will experience an annual growth rate of 3.16% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$35bn in 2024.
In terms of per capita figures, the revenue per person in Benin is US$0.92 in 2024.
Benin's home décor market is experiencing a surge in demand for traditional African art and handcrafted furniture.

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 Benin has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and stylish home furnishings, driving the demand for a wide range of home décor products. This trend can be attributed to the increasing urbanization and rising disposable income levels in the country.

Customer preferences: in the Home Décor market in Benin have evolved from traditional and rustic designs to more contemporary and minimalist styles. Consumers are increasingly looking for products that reflect their personal taste and lifestyle. This has led to a growing demand for products such as modern furniture, decorative items, and trendy home accessories. Additionally, there is a rising interest in eco-friendly and sustainable home décor options, as consumers become more conscious of the environmental impact of their choices. The market is also witnessing a shift towards online shopping for home décor products. This can be attributed to the convenience and wide variety of options available online. e-commerce platforms have made it easier for consumers in Benin to access a wider range of products, including those from international brands. This trend has also been fueled by the covid-19 pandemic, which has accelerated the adoption of online shopping across various sectors. Local special circumstances in Benin, such as the country's rich cultural heritage and craftsmanship, have also influenced the Home Décor market. Traditional crafts and artisanal products are highly valued by consumers, and there is a growing demand for locally-made home décor items. This presents an opportunity for local artisans and small businesses to showcase their skills and cater to the preferences of the domestic market. Underlying macroeconomic factors, such as the country's economic growth and increasing urbanization, have played a significant role in the development of the Home Décor market in Benin. As the economy expands, more people are able to afford home décor products, leading to increased demand. The growing urban population, coupled with the rising number of households, has also contributed to the market growth. In conclusion, the Home Décor market in Benin is experiencing growth due to changing customer preferences, increasing urbanization, rising disposable income levels, and the shift towards online shopping.

Local special circumstances: such as the country's cultural heritage and craftsmanship, further contribute to the market development. The

Underlying macroeconomic factors: including economic growth and urbanization, provide a favorable environment for the market to thrive.

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.