Market Insights Consumer Furniture Home Décor

Candles - Timor-Leste

Timor-Leste

In 2024, the Candles market Segment in Timor-Leste recorded a revenue of US$230.30k.
Looking ahead, the market is projected to experience an annual growth rate of 3.44% (CAGR 2024-2029).
When compared globally, in the United States stands out as the top revenue generator in this segment, with a staggering US$2,346m in revenue for 2024.
To put this into perspective, in 2024, each person in Timor-Leste contributed to a revenue of US$0.17.
This indicates the level of economic activity in the Candles market Segment relative to the country's total population.
Timor-Leste's candle market is booming as consumers increasingly seek locally made, eco-friendly candles to support the country's growing artisanal sector.

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

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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.