Home Décor - Guatemala | Statista Market Forecast

In Guatemala, the revenue in the Home Décor market Segment is projected to reach US$72.18m in 2024.
It is expected to experience an annual growth rate of 3.11% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this sector, with US$35bn in 2024.
In terms of per capita figures, each individual in Guatemala contributes US$3.93 in revenue towards Home Décor market in 2024.
"Guatemala's home décor market is embracing vibrant colors and intricate handcrafted designs, 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 Guatemala is experiencing significant growth and development in recent years. Customer preferences are shifting towards more modern and stylish home décor products, which has contributed to the expansion of the market. Additionally, local special circumstances and underlying macroeconomic factors have also played a role in driving this growth.

Customer preferences: in the Home Décor market in Guatemala have evolved over time. Consumers are increasingly looking for products that reflect their personal style and taste. This has led to a demand for more modern and contemporary home décor items. Customers are also seeking out unique and artisanal pieces that add a touch of personality to their homes. As a result, there has been a rise in the popularity of locally made and handcrafted home décor products. Trends in the market indicate a growing interest in sustainable and eco-friendly home décor options. Consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out products that are made from sustainable materials or produced using environmentally friendly practices. This trend is driven by a global movement towards sustainability and a desire to support ethical and responsible businesses.

Local special circumstances: in Guatemala have also contributed to the development of the Home Décor market. Guatemala is known for its rich cultural heritage and traditional craftsmanship. This has created a niche market for authentic and indigenous home décor products. Artisans in Guatemala have been able to capitalize on this demand by producing unique and high-quality items that showcase the country's cultural heritage.

Underlying macroeconomic factors: have also played a role in the growth of the Home Décor market in Guatemala. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income. As a result, consumers have more purchasing power and are able to spend more on home décor products. Additionally, the growth of the middle class in Guatemala has also contributed to the expansion of the market. As more people move into the middle class, they are able to afford higher quality and more expensive home décor items. In conclusion, the Home Décor market in Guatemala is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers are seeking out modern and stylish home décor products, as well as sustainable and eco-friendly options. The country's rich cultural heritage and traditional craftsmanship have also contributed to the expansion of the market. Overall, the future looks promising for the Home Décor market in Guatemala.

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.