Home Décor - Eastern Europe | Statista Market Forecast

In Eastern Europe, the revenue generated in the Home Décor market is estimated to reach US$3.60bn in 2024.
It is projected to experience an annual growth rate of 1.49% (CAGR 2024-2029).
When compared globally, United States leads the market with a revenue of US$35bn in 2024.
In terms of per capita revenue, in Eastern Europe generates US$15.11 per person in 2024.
In Eastern Europe, the home décor market is experiencing a rise in demand for traditional, handcrafted goods.

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 Eastern Europe has been experiencing steady growth in recent years. Customer preferences for home decoration have evolved, leading to new trends in the market. Additionally, there are local special circumstances and underlying macroeconomic factors that contribute to the development of the Home Décor market in Eastern Europe.

Customer preferences: in Eastern Europe have shifted towards more modern and minimalist home décor styles. Customers are increasingly looking for sleek and simple designs that create a clean and organized living space. This preference for minimalism is driven by a desire for functionality and a decluttered environment. Additionally, there is a growing interest in eco-friendly and sustainable home décor products, as customers become more conscious of the environmental impact of their choices. Trends in the Home Décor market in Eastern Europe include the rising popularity of scandinavian-inspired designs. The clean lines, natural materials, and neutral color palettes of Scandinavian home décor have gained traction among Eastern European customers. This trend reflects the preference for minimalism and simplicity mentioned earlier. Another trend is the increasing demand for smart home technology. Customers are embracing the convenience and efficiency offered by smart home devices, such as automated lighting systems and voice-controlled assistants. This trend is driven by the desire for a modern and technologically advanced living environment.

Local special circumstances: in Eastern Europe also contribute to the development of the Home Décor market. The region has a rich cultural heritage, and customers often seek to incorporate traditional elements into their home décor. This includes using traditional patterns, motifs, and craftsmanship in furniture and accessories. Local artisans and craftsmen play an important role in meeting this demand for traditional home décor. Additionally, Eastern Europe has a growing middle class with higher disposable incomes, which allows for increased spending on home decoration.

Underlying macroeconomic factors: also play a role in the development of the Home Décor market in Eastern Europe. Economic growth in the region has led to increased consumer confidence and purchasing power. This has resulted in higher demand for home décor products. Additionally, urbanization and the growth of the real estate market have created opportunities for the Home Décor industry. As more people move into cities and buy or rent homes, there is a greater need for home decoration and furnishing. In conclusion, the Home Décor market in Eastern Europe is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards modern and minimalist styles, the popularity of scandinavian-inspired designs, and the increasing demand for smart home technology are all trends that are shaping the market. The region's cultural heritage, growing middle class, and economic growth also contribute to the development of the Home Décor 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.