Home Décor - Guinea | Statista Market Forecast

In Guinea, the revenue in the Home Décor market Segment reached a substantial amount of US$26.17m in 2024.
It is projected that the market will experience a steady annual growth rate of 3.51% (CAGR 2024-2029).
When compared to other countries globally, United States stands as the leader in generating revenue in this segment, with a staggering amount of US$35bn in 2024.
In terms of per person revenues, in Guinea generates US$1.80 in 2024, taking into consideration the total population figures.
The demand for traditional Guinean handicrafts in home décor is on the rise, reflecting a growing appreciation for local artistry.

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 Guinea has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Guinea, customers are increasingly seeking out unique and personalized home décor items that reflect their individual style and taste. This shift in preferences has led to a rise in demand for handmade and artisanal products, as well as a growing interest in sustainable and eco-friendly materials. Customers are also placing a greater emphasis on functionality and practicality, with multi-purpose furniture and storage solutions becoming more popular.

Trends in the market: One of the key trends in the Home Décor market in Guinea is the growing popularity of traditional and ethnic designs. Customers are embracing their cultural heritage and incorporating traditional patterns, motifs, and materials into their home décor. This trend is also reflected in the use of natural materials such as wood, rattan, and clay, which add a touch of authenticity and warmth to the living spaces. Another trend in the market is the increasing demand for smart home technology and automation. Customers are looking for innovative and convenient solutions that enhance their living experience, such as smart lighting systems, automated blinds, and voice-controlled assistants. This trend is driven by the desire for convenience, energy efficiency, and the integration of technology into everyday life.

Local special circumstances: Guinea's rich cultural heritage and diverse artisanal traditions contribute to the unique offerings in the Home Décor market. Local craftsmen and artisans create beautiful handcrafted items using traditional techniques and materials, which appeal to both domestic and international customers. This has led to the growth of a vibrant and thriving artisanal sector, providing employment opportunities and supporting local economic development.

Underlying macroeconomic factors: The growth of the Home Décor market in Guinea is also influenced by underlying macroeconomic factors. The country's improving economic conditions, rising disposable incomes, and expanding middle class have contributed to increased consumer spending on home décor. Additionally, urbanization and the growing housing market have created a demand for furniture and home accessories. In conclusion, the Home Décor market in Guinea is experiencing growth due to changing customer preferences, including a desire for unique and personalized items, traditional and ethnic designs, and smart home technology. Local special circumstances, such as the rich artisanal traditions and cultural heritage, further contribute to the market's development. The underlying macroeconomic factors, including improving economic conditions and urbanization, also play a significant role in driving the growth of the 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.