Home Décor - Georgia

Georgia

In Georgia, the revenue generated in the Home Décor market Segment in 2024 amounts to US$49.34m.
It is projected that the market will experience an annual growth rate of 1.57% (CAGR 2024-2029).
When comparing globally, in the United States leads the way with a revenue of US$35,440m in 2024.
In terms of per person revenues, in Georgia generates US$13.27 per individual in 2024.
The home decor market in Georgia is seeing a rise in demand for traditional Georgian design elements, such as intricate woodwork and vibrant textiles.

Key regions: India, France, United States, Canada, Denmark

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Analyst Opinion

The Home Décor market in Georgia is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Home Décor market in Georgia are shifting towards more modern and contemporary styles. Consumers are increasingly looking for sleek and minimalist designs that create a sense of space and openness in their homes. This preference for modern aesthetics is influenced by global trends and the desire to create a more cosmopolitan and sophisticated living environment. Trends in the Home Décor market in Georgia are also being shaped by the growing popularity of online shopping. With the rise of e-commerce platforms, consumers have greater access to a wide range of home décor products from both local and international brands. This has led to increased competition in the market and a greater variety of options for consumers to choose from. Additionally, the convenience and ease of online shopping have made it more accessible for consumers to explore different styles and trends in home décor.

Local special circumstances: in Georgia, such as the country's rich cultural heritage and traditional craftsmanship, are also influencing the Home Décor market. Georgian consumers have a strong appreciation for handmade and artisanal products, which are often seen as a reflection of the country's cultural identity. This has led to a growing demand for locally made home décor items that showcase traditional craftsmanship and unique design elements. Underlying macroeconomic factors are also contributing to the development of the Home Décor market in Georgia. The country's improving economic conditions and rising disposable incomes have increased consumer spending power, allowing individuals to invest more in their homes and create personalized living spaces. Additionally, the growing tourism industry in Georgia has attracted international visitors who are interested in purchasing locally made home décor products as souvenirs or to incorporate into their own homes. In conclusion, the Home Décor market in Georgia is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and contemporary styles, the rise of online shopping, the appreciation for traditional craftsmanship, and the improving economic conditions in the country are all driving the market forward. As a result, the Home Décor market in Georgia is expected to continue to expand and offer new opportunities for both local and international brands.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.