Home Décor - Brunei Darussalam | Statista Market Forecast

In Brunei Darussalam, the revenue in the Home Décor market Segment reached US$12.02m in 2024.
It is projected to experience an annual growth rate of 2.19% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the market with revenue of US$35bn in 2024.
In terms of per capita income, each individual in Brunei Darussalam generates revenues of US$26.36 in 2024.
Brunei Darussalam's home décor market is experiencing a surge in demand for traditional handmade crafts and intricate woodwork.

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 Brunei Darussalam is experiencing steady growth due to changing customer preferences and local special circumstances.

Customer preferences: in Brunei Darussalam have shifted towards modern and minimalist home décor styles. Consumers are increasingly gravitating towards sleek and simple designs that create a sense of spaciousness and tranquility in their living spaces. This preference for minimalism is reflected in the increasing demand for furniture and accessories that are functional, yet aesthetically pleasing. Additionally, there is a growing interest in sustainable and eco-friendly home décor options, as consumers become more conscious of their environmental impact. This shift in customer preferences is in line with global trends, as minimalism and sustainability continue to gain popularity worldwide. Trends in the Home Décor market in Brunei Darussalam are also influenced by

Local special circumstances:. Brunei Darussalam is a small country with a relatively small population, which means that the market size is limited compared to larger countries. As a result, there is a focus on niche and specialized home décor products that cater to the unique tastes and preferences of Bruneian consumers. Local artisans and craftsmen play a significant role in the market, as their handmade and locally sourced products are highly valued by consumers. This emphasis on local craftsmanship and authenticity sets the Home Décor market in Brunei Darussalam apart from other markets in the region. Underlying macroeconomic factors are also contributing to the growth of the Home Décor market in Brunei Darussalam. The country has a high gdp per capita, which indicates a relatively affluent consumer base. This affluence allows consumers to invest in high-quality home décor products that enhance the aesthetics and comfort of their homes. Additionally, the government of Brunei Darussalam has been actively promoting the development of the tourism sector, which has led to an increase in the number of hotels, resorts, and other accommodation facilities. This growth in the hospitality industry has created a demand for home décor products that cater to the needs of these establishments, further driving the growth of the market. In conclusion, the Home Décor market in Brunei Darussalam is developing in response to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and minimalist styles, the emphasis on local craftsmanship, and the affluence of the consumer base are all contributing to the growth of the market. Additionally, the government's focus on tourism development is creating opportunities for the market to expand further. Overall, the Home Décor market in Brunei Darussalam is poised for continued growth 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.