Home Décor - Haiti | Statista Market Forecast

In Haiti, the revenue in the Home Décor market Segment in 2024 amounts to US$59.37m.
It is projected to experience an annual growth rate of 4.16% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue with US$35bn in 2024.
In terms of per person revenues, US$5.00 is generated in 2024.
Despite economic challenges, the home décor market in Haiti is witnessing a surge in demand for locally crafted, eco-friendly products.

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 Haiti has been experiencing significant growth and development in recent years. Customer preferences have shifted towards more modern and stylish home décor products, leading to an increase in demand for these items. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the expansion of the market.

Customer preferences: in the Home Décor market in Haiti have evolved over time. Consumers are now looking for products that are not only functional but also aesthetically pleasing. There is a growing demand for modern and stylish home décor items that can enhance the overall look and feel of a living space. This shift in preferences has led to an increase in the sales of contemporary furniture, decorative accessories, and trendy lighting fixtures. Customers are also showing a preference for eco-friendly and sustainable home décor products, reflecting a global trend towards more environmentally conscious choices. In addition to changing customer preferences, there are several trends in the Home Décor market in Haiti that are driving its growth. One of the key trends is the rise of online shopping. With the increasing availability of internet access and the convenience of online shopping platforms, more consumers are opting to purchase home décor products online. This trend has opened up new opportunities for both local and international retailers to reach a wider customer base and expand their market share. Another trend in the market is the growing popularity of diy (do-it-yourself) home décor projects. Many consumers are now taking on home improvement projects themselves, which has created a demand for affordable and customizable home décor products. This trend has led to the emergence of local artisans and craftsmen who specialize in creating unique and personalized home décor items. These artisans often use traditional techniques and materials, adding a touch of local culture and heritage to the products.

Local special circumstances: in Haiti have also played a role in the development of the Home Décor market. The country has a rich cultural heritage and a vibrant arts and crafts scene, which has contributed to the availability of unique and handcrafted home décor products. Local artisans and craftsmen often incorporate traditional techniques and materials into their creations, adding a sense of authenticity and uniqueness to the products. This has attracted both local and international customers who are looking for one-of-a-kind pieces to decorate their homes.

Underlying macroeconomic factors: have also contributed to the growth of the Home Décor market in Haiti. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, more consumers are willing to invest in home décor products to improve their living spaces. Additionally, the government has implemented policies to promote small businesses and entrepreneurship, which has created opportunities for local artisans and craftsmen to thrive in the market. In conclusion, the Home Décor market in Haiti is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for modern and stylish home décor products, the rise of online shopping, the popularity of diy projects, the availability of unique and handcrafted items, and the country's economic growth have all contributed to the expansion of the market. As the market continues to evolve, it is expected to offer more opportunities for both local and international retailers and artisans in Haiti.

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.