Home Décor - NAFTA | Statista Market Forecast

In 2024, the Home Décor market Segment in NAFTA generated a significant revenue of US$42.56bn.
According to projections, this market is expected to grow annually by 4.54% (CAGR 2024-2029).
When compared globally, United States leads the way in revenue generation, with US$35bn in 2024.
Taking into account the total population figures, the per person revenue in 2024 stood at US$83.41.
In the NAFTA region, the home décor market is experiencing a surge in demand for rustic, handmade furniture and artisanal crafts.

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 nafta has been experiencing significant growth in recent years. Customer preferences for stylish and personalized home décor items have been driving this growth. Additionally, the market has been influenced by various trends and local special circumstances within the nafta region.

Customer preferences: in the Home Décor market in nafta have shifted towards more modern and contemporary designs. Customers are increasingly looking for unique and personalized items that reflect their individual style and taste. This has led to a rise in demand for customized furniture, artwork, and home accessories. In addition, customers are also seeking environmentally friendly and sustainable home décor products, leading to an increased demand for eco-friendly materials and products. Trends in the Home Décor market in nafta have been shaped by factors such as changing lifestyles and technological advancements. With the rise of urbanization and smaller living spaces, customers are looking for compact and multifunctional furniture and décor items. This has led to a growing demand for space-saving solutions such as modular furniture and smart home technology. Additionally, the increasing popularity of online shopping has also influenced the market, with more customers opting to purchase home décor items online.

Local special circumstances: within the nafta region have also played a role in the development of the Home Décor market. For example, the United States has a strong diy culture, with many customers opting to create their own unique home décor items. This has led to a rise in demand for diy supplies and materials. In Canada, there is a growing trend towards supporting local artisans and businesses, leading to an increased demand for locally made home décor products. Mexico, on the other hand, has a rich cultural heritage, which has influenced the design and style of home décor items in the market. Underlying macroeconomic factors have also contributed to the growth of the Home Décor market in nafta. The strong economic growth in the region has resulted in increased disposable income, allowing customers to spend more on home décor items. Additionally, low interest rates and easy access to credit have also encouraged customers to invest in home improvement projects and purchase new home décor items. In conclusion, the Home Décor market in nafta is experiencing growth due to changing customer preferences, trends in the market, local special circumstances, and

Underlying macroeconomic factors:. As customers continue to seek stylish and personalized home décor items, the market is expected to continue to expand 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.