Home Décor - Chile | Statista Market Forecast

In Chile, the revenue in the Home Décor market Segment is projected to reach US$875.70m in 2024.
It is anticipated that the market will experience an annual growth rate of 4.45% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, amounting to US$35bn in 2024.
In terms of per capita figures, the revenue per person in Chile is estimated to be US$44.55 in 2024.
Chilean consumers are increasingly favoring sustainable and locally-made home décor products to support the country's artisanal industry.

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 Chile has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in the Home Décor market in Chile have shifted towards more modern and minimalist designs. Customers are increasingly looking for sleek and contemporary furniture and accessories that can enhance the overall aesthetic appeal of their homes. This trend is in line with global market preferences, as minimalistic designs have gained popularity worldwide. Additionally, customers in Chile are also showing a preference for sustainable and eco-friendly home décor products, reflecting a growing awareness of environmental issues. One of the key trends in the Home Décor market in Chile is the increasing popularity of online shopping. With the rise of e-commerce platforms and the convenience they offer, more and more customers are opting to purchase home décor products online. This trend is driven by factors such as the wide range of products available online, competitive pricing, and the ability to compare prices and read customer reviews. Online retailers have also been quick to adapt to the changing market landscape, offering virtual showrooms and augmented reality features to enhance the online shopping experience. Another trend in the Home Décor market in Chile is the growing demand for smart home technology. Customers are increasingly looking for home décor products that can be integrated with smart home systems, allowing them to control lighting, temperature, and other aspects of their homes through their smartphones or voice assistants. This trend is driven by the increasing adoption of smart home technology worldwide, as well as the convenience and energy-saving benefits it offers.

Local special circumstances: also play a role in the development of the Home Décor market in Chile. The country's strong economy and rising disposable incomes have contributed to an increase in consumer spending on home décor products. Additionally, Chile has a rich cultural heritage and a growing interest in interior design, which has led to a demand for home décor products that reflect the country's unique aesthetic and craftsmanship. This presents opportunities for local artisans and designers to showcase their work and cater to the local market. Underlying macroeconomic factors, such as population growth and urbanization, also contribute to the growth of the Home Décor market in Chile. As the population continues to grow and more people move to urban areas, the demand for housing and home décor products increases. This trend is expected to continue in the coming years, driving further growth in the market. In conclusion, the Home Décor market in Chile is experiencing growth due to changing customer preferences, the increasing popularity of online shopping, the demand for smart home technology, local special circumstances, and

Underlying macroeconomic factors:. This presents opportunities for both local and international players in the market to cater to the evolving needs of customers in Chile.

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.