Home Décor - BRICS | Statista Market Forecast

In 2024, the revenue in the Home Décor market Segment in BRICS amounts to US$28.26bn.
It is projected that the market will experience an annual growth rate of 5.83% from 2024 to 2029 (CAGR 2024-2029).
In comparison to other countries globally, United States generates the highest revenue in the segment, with US$35bn in 2024.
When considering the total population figures, per person revenues of US$8.57 are generated in 2024.
In Brazil, there is a growing trend for vibrant and colorful home décor, reflecting 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 brics is experiencing significant growth and development. Customer preferences for stylish and personalized home décor products are driving this trend. In addition, the growing middle class and increasing disposable income in these countries are contributing to the expansion of the market.

Customer preferences: in the Home Décor market in brics are shifting towards unique and personalized products. Consumers are seeking items that reflect their individual style and personality, rather than generic mass-produced items. This has led to an increase in demand for customized furniture, artwork, and home accessories. Additionally, there is a growing interest in eco-friendly and sustainable home décor products, as consumers become more conscious of their environmental impact. Trends in the market vary across the brics countries. In Brazil, there is a strong demand for vibrant and colorful home décor items, reflecting the country's rich cultural heritage. Traditional Brazilian motifs and materials are popular choices among consumers. In Russia, there is a growing preference for modern and minimalist designs, with a focus on functionality and simplicity. Chinese consumers are increasingly interested in blending traditional Chinese elements with contemporary designs, creating a unique fusion style. In India, there is a rising demand for handcrafted and artisanal home décor products, showcasing the country's diverse craftsmanship. Local special circumstances also play a role in the development of the Home Décor market in brics. For example, brazil's hosting of major sporting events in recent years, such as the fifa World Cup and the Olympic Games, has led to increased investment in infrastructure and urban development. This has created opportunities for the home décor industry, as new residential and commercial spaces are being built and renovated. In China, the government's focus on urbanization and improving living standards has resulted in a surge in housing construction, leading to a higher demand for home décor products. Underlying macroeconomic factors are also contributing to the growth of the Home Décor market in brics. The expanding middle class in these countries, coupled with rising disposable incomes, has increased consumer purchasing power. As a result, consumers are willing to spend more on home décor items to enhance their living spaces. Additionally, urbanization and population growth are driving the demand for housing, which in turn fuels the demand for home décor products. Overall, the Home Décor market in brics is experiencing a positive growth trajectory due to customer preferences for personalized and unique products, along with favorable macroeconomic factors. The market is expected to continue expanding as consumers seek to create stylish and personalized living spaces.

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.