Home Décor - Laos | Statista Market Forecast

In Laos, the revenue in the Home Décor market Segment in 2024 is estimated to be US$25.55m.
It is projected to experience an annual growth rate of 2.89% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue with US$35bn in 2024.
In terms of per person revenues, in Laos generates US$3.30 in 2024.
Laos' home décor market is embracing traditional handcrafted textiles, incorporating vibrant colors and intricate patterns to create a uniquely cultural and vibrant aesthetic.

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 Laos has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on sustainable and eco-friendly materials. This trend is in line with global market preferences, as consumers become more conscious of the environmental impact of their purchasing decisions. Additionally, the growing middle class in Laos has led to an increase in disposable income, allowing more consumers to invest in home décor products.

Customer preferences: Laotian consumers are increasingly seeking out home décor products that reflect their personal style and taste. They are drawn to modern and contemporary designs that offer a sleek and minimalist aesthetic. This preference for clean lines and simplicity is in line with global design trends. Additionally, there is a growing demand for eco-friendly and sustainable materials, as consumers become more conscious of the environmental impact of their purchases. This has led to an increase in the use of natural materials such as bamboo and rattan in home décor products.

Trends in the market: One of the key trends in the Home Décor market in Laos is the rise of online shopping. With the increasing availability of internet access and the convenience of online shopping platforms, more consumers are turning to online retailers to purchase home décor products. This trend is in line with global market trends, as online shopping continues to grow in popularity worldwide. Another trend in the market is the increasing popularity of DIY home décor projects. Many consumers are opting to personalize their living spaces by creating their own home décor items. This trend is driven by a desire for unique and one-of-a-kind pieces that reflect the individual's personality and style. DIY home décor projects also offer a more affordable option for consumers who are looking to update their living spaces on a budget.

Local special circumstances: Laos is a landlocked country with a rich cultural heritage. This has influenced the local home décor market, with consumers often seeking out traditional and ethnic-inspired designs. Handcrafted items, such as woven textiles and pottery, are highly valued by consumers for their unique and authentic qualities. This demand for traditional crafts has created opportunities for local artisans and craftsmen to showcase their skills and preserve traditional techniques.

Underlying macroeconomic factors: The growth of the Home Décor market in Laos can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. Additionally, the government has implemented policies to promote tourism and attract foreign investment, which has further contributed to economic growth. These factors have created a favorable environment for the Home Décor market to thrive and expand. In conclusion, the Home Décor market in Laos is experiencing growth and development driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards modern and contemporary designs, the rise of online shopping, and the demand for eco-friendly and sustainable materials are all contributing to the growth of the market. Additionally, the cultural heritage of Laos and the growing middle class have created opportunities for traditional crafts and local artisans. With the continued economic growth and increasing consumer spending, the Home Décor market in Laos is expected to continue its upward trajectory in the coming years.

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.