Home Décor - Bulgaria | Statista Market Forecast

In Bulgaria, the revenue in the Home Décor market Segment reaches US$93.07m in 2024.
It is projected to experience an annual growth rate of 3.06% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the market with a revenue of US$35bn in 2024.
Considering the total population, per person revenues amount to US$14.06 in 2024.
Bulgaria's home décor market is seeing a surge in demand for traditional handwoven textiles and ceramics, reflecting a growing appreciation for local craftsmanship.

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 Bulgaria has been experiencing significant growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.

Customer preferences: in the Home Décor market in Bulgaria have shifted towards more modern and stylish designs. Consumers are increasingly looking for products that are both functional and aesthetically pleasing, with a focus on minimalist and scandinavian-inspired designs. This trend is in line with global preferences, as customers worldwide are seeking to create a more contemporary and sophisticated living environment. Trends in the Home Décor market in Bulgaria include the growing popularity of online shopping. With the increasing penetration of internet and smartphone usage, consumers are turning to online platforms to browse and purchase home décor products. This trend is driven by the convenience and wide range of options available online, as well as the ability to compare prices and read customer reviews. As a result, traditional brick-and-mortar retailers are facing increased competition and are adapting their strategies to include online sales channels. Another trend in the Home Décor market in Bulgaria is the rising demand for eco-friendly and sustainable products. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking products that are made from recycled materials or produced using sustainable practices. This trend is in line with global consumer preferences, as sustainability becomes an increasingly important factor in purchasing decisions. Local special circumstances in the Home Décor market in Bulgaria include the country's growing middle class and increasing disposable income. As the economy continues to grow, more Bulgarians are able to afford home décor products and are willing to invest in creating a comfortable and stylish living environment. This has led to an expansion of the market and an increase in the variety of products available. Underlying macroeconomic factors that have contributed to the development of the Home Décor market in Bulgaria include stable economic growth, low unemployment rates, and increasing consumer confidence. These factors have created a favorable environment for consumer spending and have boosted demand for home décor products. Additionally, the government's efforts to improve infrastructure and promote tourism have attracted foreign investment and boosted the overall economy, further supporting the growth of the Home Décor market. In conclusion, the Home Décor market in Bulgaria is developing in response to changing customer preferences, favorable macroeconomic factors, and

Local special circumstances:. The market is experiencing a shift towards more modern and stylish designs, driven by the growing middle class and increasing disposable income. Online shopping and the demand for eco-friendly products are also driving trends in the market. Overall, the Home Décor market in Bulgaria is expected to continue growing in the coming years, presenting opportunities for both local and international retailers.

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.