Home Décor - Ivory Coast

Ivory Coast

In Ivory Coast, the revenue in the Home Décor market Segment for the year 2024 reaches a significant amount of US$143.50m.
Looking ahead, this market is projected to experience an annual growth rate of 4.52% (CAGR 2024-2029).
When compared globally, in the United States stands out as the country generating the highest revenue in this segment, reaching a staggering US$35,440m in 2024.
In terms of per capita revenue, each person in Ivory Coast generates US$4.85 in 2024.
The demand for traditional Ivorian handicrafts in the home décor market is on the rise, as consumers seek to embrace their cultural heritage.

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

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Analyst Opinion

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

Customer preferences: in the Home Décor market in Ivory Coast are shifting towards more modern and contemporary designs. Customers are increasingly looking for unique and stylish home décor products that reflect their personal taste and lifestyle. This trend is driven by the growing middle class in the country, who have higher disposable incomes and are willing to invest in high-quality home décor items. Additionally, there is a growing awareness of global design trends and a desire to incorporate these into local homes. As a result, there is a growing demand for products such as furniture, lighting, textiles, and decorative accessories that are both functional and aesthetically pleasing. The market is also witnessing a rise in the popularity of sustainable and eco-friendly home décor products. Customers are becoming more conscious of the environmental impact of their purchases and are seeking out products that are made from recycled or sustainable materials. This trend is driven by a combination of factors, including increased awareness of environmental issues, government initiatives promoting sustainability, and the influence of global sustainability movements. As a result, there is a growing demand for products such as bamboo furniture, organic textiles, and recycled glassware.

Local special circumstances: in Ivory Coast are also contributing to the development of the Home Décor market. The country has a rich cultural heritage and a strong tradition of craftsmanship, which is reflected in the local home décor industry. Customers in Ivory Coast value products that are handmade and showcase traditional techniques and materials. This has created a niche market for locally-produced home décor items, such as woven baskets, carved wooden furniture, and hand-painted ceramics. Additionally, the country's vibrant arts and crafts scene has attracted international attention, leading to increased demand for unique and authentic home décor products. Underlying macroeconomic factors are also playing a role in the development of the Home Décor market in Ivory Coast. The country has experienced steady economic growth in recent years, which has led to an increase in consumer spending power. This has created a favorable environment for the home décor industry, as customers have more disposable income to spend on decorating their homes. Additionally, the government has implemented policies to promote the growth of the manufacturing sector, which has resulted in the expansion of local home décor production and the creation of new job opportunities. In conclusion, the Home Décor market in Ivory Coast is experiencing growth and development due to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. Customers are increasingly seeking out modern and sustainable home décor products, while also valuing locally-made and artisanal items. The country's economic growth and government support for the manufacturing sector have also contributed to the market's expansion.

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.