Home Décor - Ethiopia | Statista Market Forecast

In Ethiopia, the revenue generated in the Home Décor market Segment in 2024 amounts to US$169.10m.
It is projected that the market will experience an annual growth rate of 4.50% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with US$35bn in 2024.
This translates to a per person revenue of US$1.30 in 2024, taking into account the total population figures.
Ethiopia's home décor market is witnessing a surge in demand for traditional Ethiopian crafts, reflecting the country'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 Ethiopia is experiencing significant growth and development in recent years. Customer preferences in the Home Décor market in Ethiopia are shifting towards more modern and contemporary designs. Consumers are increasingly looking for unique and stylish home décor items that reflect their personal taste and style. This trend is driven by the growing middle class in the country, who have higher disposable incomes and are willing to spend more on home decoration. Additionally, the influence of global trends and the rise of social media have also played a role in shaping

Customer preferences: in Ethiopia. Trends in the market include the increasing popularity of eco-friendly and sustainable home décor products. Consumers in Ethiopia are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out products that are made from recycled materials or are produced using sustainable practices. This trend is in line with global efforts to reduce waste and promote sustainability. Another trend in the Home Décor market in Ethiopia is the growing demand for locally made products. Consumers are increasingly looking for home décor items that are made in Ethiopia, as they value the craftsmanship and authenticity of these products. This trend is also driven by the desire to support local artisans and promote local industries. Local special circumstances in Ethiopia, such as the rich cultural heritage and traditional craftsmanship, have also contributed to the development of the Home Décor market. Ethiopian home décor items often feature unique and intricate designs that are inspired by traditional motifs and patterns. This cultural heritage has become a selling point for home décor products in the country, attracting both domestic and international consumers. Underlying macroeconomic factors, such as the steady economic growth and increasing urbanization in Ethiopia, have created a favorable environment for the Home Décor market to thrive. As more people move to urban areas and build new homes, the demand for home décor products has increased. Additionally, the government's focus on infrastructure development and the improvement of living standards has also contributed to the growth of the Home Décor market. In conclusion, the Home Décor market in Ethiopia is experiencing growth and development, driven by changing customer preferences, global trends,

Local special circumstances: and

Underlying macroeconomic factors:. The market is expected to continue to expand as consumers seek out unique and stylish home décor items that reflect their personal taste and style.

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.