Key regions: India, France, United States, Canada, Denmark
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 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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