Home Décor - EAEU | Statista Market Forecast

In the year 2024, the revenue in the Home Décor market Segment in the EAEU amounts to US$2.80bn.
It is projected that this market will experience an annual growth rate of 0.54% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$35bn in 2024.
In terms of per person revenues, in 2024, each individual in the EAEU generates around US$15.31.
In the EAEU, the home décor market is witnessing a surge in demand for traditional crafts and artisanal products.

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 the Eurasian Economic Union (EAEU) is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences: Customers in the EAEU have shown a growing interest in home décor products. They are increasingly looking for unique and personalized items to enhance the aesthetic appeal of their homes. This includes a wide range of products such as furniture, textiles, lighting, and decorative accessories. Customers are also seeking eco-friendly and sustainable options, reflecting a global trend towards more environmentally conscious choices.

Trends in the market: One of the key trends in the Home Décor market in the EAEU is the rise of online shopping. With the increasing availability of internet access and the convenience it offers, more customers are turning to online platforms to purchase home décor products. This trend is further fueled by the COVID-19 pandemic, which has accelerated the shift towards e-commerce. Online retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and convenient delivery options. Another trend in the market is the growing popularity of DIY (do-it-yourself) home décor projects. Customers are increasingly interested in creating unique and personalized spaces, and DIY projects allow them to do so at a lower cost. This trend is supported by the availability of DIY tutorials and inspiration on social media platforms, which have become influential sources for home décor ideas.

Local special circumstances: The cultural diversity within the EAEU region contributes to the unique home décor preferences and styles in each country. For example, countries like Russia and Kazakhstan have a rich history of traditional craftsmanship, which is reflected in the demand for handmade and artisanal home décor products. On the other hand, countries like Armenia and Kyrgyzstan have a strong appreciation for natural materials and organic designs, leading to a preference for products that showcase these elements.

Underlying macroeconomic factors: Economic growth and rising disposable incomes in the EAEU countries have played a significant role in driving the Home Décor market. As the economies in the region continue to develop, more people have the means to invest in home décor products. Additionally, urbanization and the growth of the middle class have led to an increased demand for home improvement and renovation projects, further stimulating the market. In conclusion, the Home Décor market in the EAEU is experiencing growth and development due to customer preferences for unique and personalized products, the rise of online shopping, the popularity of DIY projects, local cultural influences, and underlying macroeconomic factors such as economic growth and rising disposable incomes. This positive trajectory is expected to continue as customers in the region continue to prioritize the aesthetics and comfort of their homes.

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.