Home Décor - Lithuania | Statista Market Forecast

In Lithuania, the revenue in the Home Décor market Segment reaches US$61.27m in 2024.
According to projections, the market is anticipated to experience an annual growth rate of 4.22% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this sector, amounting to US$35bn in 2024.
Taking into account the total population, the per person revenue for Lithuania amounts to US$22.75 in 2024.
Lithuania's growing interest in traditional artisanal crafts is driving a resurgence in handcrafted home décor 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 Lithuania has been experiencing steady growth in recent years, driven by changing customer preferences and a growing economy.

Customer preferences: in the Home Décor market have shifted towards more modern and minimalist designs, with a focus on functionality and simplicity. Customers are increasingly looking for products that not only enhance the aesthetics of their homes, but also provide practical solutions for everyday living. This trend is in line with global preferences, as consumers worldwide are gravitating towards minimalism and decluttering. One of the key trends in the Home Décor market in Lithuania is the increasing demand for sustainable and eco-friendly products. Customers are becoming more conscious of the environmental impact of their purchases and are actively seeking out products that are made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is driven by a growing awareness of the need to protect the environment and a desire to make more ethical purchasing decisions. Another trend in the market is the rise of online shopping for Home Décor products. Customers are increasingly turning to online platforms to browse and purchase a wide range of products, including furniture, lighting, and accessories. This shift towards online shopping is driven by the convenience and accessibility of e-commerce platforms, as well as the ability to compare prices and read customer reviews. The covid-19 pandemic has also accelerated this trend, as more people are choosing to shop online to avoid crowded stores and minimize the risk of exposure to the virus. Local special circumstances in Lithuania also play a role in 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 design and production of home décor products. Customers in Lithuania appreciate locally made products that showcase traditional craftsmanship and unique design elements. This preference for local products contributes to the growth of small and medium-sized businesses in the Home Décor sector. Underlying macroeconomic factors, such as a growing economy and increasing disposable income, also contribute to the development of the Home Décor market in Lithuania. As the economy continues to grow, more people have the means to invest in their homes and create personalized living spaces. Rising disposable income allows customers to spend more on Home Décor products, leading to increased sales and market growth. Overall, the Home Décor market in Lithuania is experiencing growth due to changing customer preferences, increasing demand for sustainable products, the rise of online shopping,

Local special circumstances: and favorable macroeconomic factors. As these trends continue to shape the market, businesses in the Home Décor sector have the opportunity to cater to evolving customer needs and capitalize on the growing demand for innovative and sustainable home décor products.

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.