Home Décor - Central America | Statista Market Forecast

In Central America, the revenue in the Home Décor market Segment reaches a substantial amount of US$325.70m in 2024.
Looking ahead, the market is projected to experience an annual growth rate of 2.78% (CAGR 2024-2029).
When compared globally, United States stands out as the leading revenue generator in this segment, with a whopping US$35bn in 2024.
Taking into account the total population, the per person revenue in Central America is estimated to be US$6.16 in 2024.
Central America's home décor market is embracing vibrant colors and handmade textiles to showcase the region's rich cultural heritage.

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 Central America is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Home Décor market are shifting towards more modern and minimalist designs. Consumers are looking for sleek and clean lines, as well as functional and practical pieces that can maximize space in their homes. This preference for modern designs is influenced by global trends in interior design and a desire for a more contemporary and sophisticated living environment. Trends in the Home Décor market in Central America include a growing demand for sustainable and eco-friendly products. Consumers are increasingly conscious of the environmental impact of their purchases and are seeking products that are made from sustainable materials and produced in an environmentally friendly manner. This trend is driven by a global focus on sustainability and a desire to reduce waste and carbon footprints. Another trend in the market is the rise of online shopping for home décor products. With the increasing availability of internet access and the convenience of online shopping, more consumers are choosing to purchase home décor items online. This trend is also influenced by the covid-19 pandemic, which has led to an increase in e-commerce across various industries.

Local special circumstances: in Central America, such as a growing middle class and urbanization, are contributing to the growth of the Home Décor market. As the middle class expands and disposable incomes rise, consumers have more purchasing power to invest in home décor products. Additionally, urbanization is leading to smaller living spaces, which drives the demand for compact and multifunctional home décor items. Underlying macroeconomic factors, such as economic growth and stability, are also playing a role in the development of the Home Décor market in Central America. As economies in the region continue to grow and stabilize, consumers have more confidence in their purchasing power and are more willing to invest in home décor products. Additionally, favorable government policies and initiatives to promote the growth of the housing sector are driving the demand for home décor products. In conclusion, the Home Décor market in Central America is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern designs, the demand for sustainable products, the rise of online shopping, the growing middle class, urbanization, and economic growth are all contributing to the development of the market.

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.