Market Insights Consumer Furniture Home Décor

Candles - Bolivia

Bolivia

In Bolivia, the revenue generated in the Candles market Segment in 2024 amounts to US$4.28m units of currency.
It is projected that the market will experience an annual growth rate of 3.28% (CAGR 2024-2029).
When compared to the global market, in the United States generates the highest revenue, reaching US$2,346m units of currency in 2024.
In terms of per capita income, each person in Bolivia generates revenues of US$0.34 units of currency in 2024.
Bolivia's candle market is thriving, with a growing demand for eco-friendly and handmade candles made from local materials.

Key regions: China, France, United Kingdom, United States, Worldwide

Market

Region

Region comparison

Currency

Methodology

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.