Home Décor - Mozambique

Mozambique

In Mozambique, the revenue generated in the Home Décor market Segment in 2024 amounts to US$16.89m.
It is projected that this market will experience an annual growth rate of 2.17% (CAGR 2024-2029).
When compared to the global market, in the United States generates the highest revenue in this segment, with US$35,440m in 2024.
In terms of per capita revenue, each person in Mozambique generates US$0.48 in 2024.
Despite its rich cultural heritage and vibrant art scene, Mozambique's home décor market remains relatively untapped, presenting opportunities for growth and innovation.

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

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Analyst Opinion

The Home Décor market in Mozambique is experiencing significant growth and development due to various factors. Customer preferences are shifting towards more modern and stylish home décor products, leading to an increase in demand for these items. Additionally, the local special circumstances in Mozambique, such as a growing middle class and urbanization, are contributing to the expansion of the Home Décor market.

Customer preferences: in Mozambique are evolving, with a greater emphasis on modern and stylish home décor products. As the country continues to develop and urbanize, consumers are becoming more aware of global trends and are seeking to incorporate these into their homes. This has led to an increased demand for contemporary furniture, decorative accessories, and innovative lighting solutions. Customers are also looking for products that are both functional and aesthetically pleasing, as they strive to create inviting and comfortable living spaces. The Home Décor market in Mozambique is also influenced by global and regional trends. The rise of e-commerce has made it easier for consumers to access a wide range of home décor products from around the world. This has opened up new opportunities for local retailers to offer a diverse selection of products to their customers. Additionally, the increasing focus on sustainability and eco-friendly products has led to a growing demand for environmentally conscious home décor items. Customers are seeking products made from sustainable materials and produced using ethical manufacturing processes.

Local special circumstances: in Mozambique are contributing to the growth of the Home Décor market. The country's middle class is expanding, with more households having disposable income to spend on home furnishings. This has created a larger customer base for home décor retailers, driving sales and market growth. Urbanization is also playing a role, as more people move to cities and seek to create comfortable and stylish living spaces. This has led to an increased demand for home décor products, as individuals and families look to furnish and decorate their new homes. Underlying macroeconomic factors are also driving the development of the Home Décor market in Mozambique. The country's economy has been growing steadily in recent years, leading to an increase in consumer spending power. This has allowed individuals and households to allocate more of their income towards home décor purchases. Additionally, the construction and real estate sectors are experiencing growth, which is creating a demand for home furnishings and décor items. As new homes and buildings are constructed, there is a need to furnish and decorate these spaces, further driving the market for home décor products. In conclusion, the Home Décor market in Mozambique is experiencing growth and development due to changing customer preferences, global and regional trends, local special circumstances, and

Underlying macroeconomic factors:. As consumers seek more modern and stylish home décor products, retailers are responding by offering a diverse range of options. The expansion of the middle class and urbanization in Mozambique are also contributing to the growth of the market. With a growing economy and a demand for home furnishings in the construction sector, the Home Décor market in Mozambique is poised for continued development 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.