Home Décor - Costa Rica | Statista Market Forecast

The Home Décor market Segment in Costa Rica is projected to generate a revenue of US$109.60m in 2024.
It is anticipated to experience an annual growth rate of 3.08% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads in revenue generation with US$35bn in 2024.
Taking into account the total population figures, the per person revenue in Costa Rica is estimated to be US$20.90 in 2024.
In Costa Rica, the current trend in the home décor market is a shift towards eco-friendly and sustainable materials, reflecting the country's commitment to environmental conservation.

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 Costa Rica is experiencing steady growth due to changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the Home Décor market in Costa Rica are shifting towards more modern and minimalist designs. Customers are seeking products that are not only aesthetically pleasing but also functional and practical. This preference for simplicity and functionality is driving the demand for sleek and contemporary home décor items. Additionally, there is a growing interest in eco-friendly and sustainable products, with customers prioritizing environmentally friendly materials and production processes.

Trends in the market: are also influencing the development of the Home Décor market in Costa Rica. One notable trend is the increasing popularity of online shopping. With the rise of e-commerce platforms, customers have access to a wider range of home décor products and can easily compare prices and styles. This convenience and accessibility are driving the growth of online sales in the Home Décor market. Another trend is the growing interest in locally made products. Customers in Costa Rica are increasingly seeking out home décor items that are produced within the country. This trend is driven by a desire to support local artisans and businesses, as well as a preference for unique and handmade products. As a result, there has been an increase in the availability of locally made home décor items in the market.

Local special circumstances: also play a role in the development of the Home Décor market in Costa Rica. The country's strong tourism industry has a significant impact on the market, as tourists often purchase home décor items as souvenirs or to decorate their vacation homes. This demand from tourists contributes to the overall growth of the market. Underlying macroeconomic factors also influence the development of the Home Décor market in Costa Rica. The country's stable economy and increasing disposable income levels have led to higher consumer spending on home décor. As people have more money to spend, they are willing to invest in higher-quality and more expensive home décor items. Additionally, the growing middle class in Costa Rica has created a larger customer base for the Home Décor market, driving demand and growth. In conclusion, the Home Décor market in Costa Rica is developing due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and minimalist designs, the popularity of online shopping, the interest in locally made products, the impact of tourism, and the stable economy and increasing disposable income levels all contribute to the growth 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.