Home Décor - Iraq

Iraq

In Iraq, the revenue generated in the Home Décor market Segment in 2024 amounts to US$403.00m.
It is projected that the market will experience an annual growth rate of 1.45% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching US$35,440m in 2024.
In terms of per capita revenue, each person in Iraq generates US$8.66 in 2024.
The demand for traditional Iraqi home décor items, such as handcrafted rugs and ceramics, is experiencing a resurgence as locals embrace their cultural heritage.

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

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Analyst Opinion

The Home Décor market in Iraq has been experiencing significant growth in recent years, driven by changing customer preferences and a growing economy.

Customer preferences: in the Home Décor market in Iraq have shifted towards more modern and stylish designs. Consumers are increasingly looking for products that reflect their personal style and taste, and are willing to invest in high-quality and unique pieces. This trend is in line with global market trends, as consumers worldwide are becoming more design-conscious and are seeking out products that enhance their living spaces. In addition to changing customer preferences, the Home Décor market in Iraq is also benefiting from local special circumstances. The country's young and growing population, coupled with increasing urbanization, has created a strong demand for home furnishings and décor. As more people move to cities and establish their own households, the need for furniture and decorative items has increased. Furthermore, the rising disposable income levels among the middle class have enabled more consumers to afford higher-end home décor products. One of the key trends in the Home Décor market in Iraq is the increasing popularity of online shopping. With the rise of e-commerce platforms and increased internet penetration, consumers are now able to browse and purchase a wide range of home décor products from the comfort of their homes. This trend is not unique to Iraq, as online shopping has become a global phenomenon. However, in Iraq, it is particularly significant due to the limited availability of physical retail stores in some areas and the convenience offered by online shopping platforms. Another trend in the Home Décor market in Iraq is the growing focus on sustainability and eco-friendly products. As consumers become more aware of the environmental impact of their purchasing decisions, they are seeking out products that are made from sustainable materials and produced using environmentally-friendly practices. This trend is in line with global market trends, as sustainability has become a key consideration for many consumers worldwide. Underlying macroeconomic factors are also contributing to the growth of the Home Décor market in Iraq. The country's economy has been steadily recovering from years of conflict and instability, leading to increased consumer confidence and spending. Additionally, government initiatives to promote the housing sector and improve living standards have further boosted demand for home décor products. In conclusion, the Home Décor market in Iraq is experiencing growth due to changing customer preferences,

Local special circumstances: global market trends, and

Underlying macroeconomic factors:. As consumers in Iraq become more design-conscious and seek out products that reflect their personal style, the demand for modern and stylish home décor is increasing. The rise of online shopping and the focus on sustainability are also shaping the market. Overall, the Home Décor market in Iraq is poised for continued growth in the coming years.

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.