Market Insights Consumer Furniture Home Décor

Candles - Morocco

Morocco

In Morocco, the revenue in the Candles market Segment is projected to reach US$40.46m in 2024.
It is anticipated that the market will experience an annual growth rate of 3.07% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, amounting to US$2,346m in 2024.
In terms of per capita revenues, in Morocco generates US$1.06 per person in 2024.
The demand for traditional Moroccan candles, known for their intricate designs and vibrant colors, continues to rise among both locals and tourists.

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.