Home Décor - North Macedonia | Statista Market Forecast

In 2024, the revenue in the Home Décor market Segment in North Macedonia amounts to US$48.24m.
It is projected to experience an annual growth rate of 3.13% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$35bn in 2024.
Taking into account the total population, per person revenues amount to US$23.16 in 2024.
North Macedonia is experiencing a surge in demand for traditional handcrafted home décor, reflecting a growing appreciation for cultural heritage in interior design.

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 North Macedonia is experiencing significant growth and development. Customer preferences in the Home Décor market in North Macedonia are shifting towards more modern and minimalist designs. Consumers are increasingly looking for sleek and contemporary furniture and accessories that can enhance the overall aesthetic of their homes. This preference for modern designs is in line with global trends, as consumers seek to create clean and uncluttered living spaces. Additionally, there is a growing demand for eco-friendly and sustainable home décor products, reflecting the increasing awareness of environmental issues among consumers. Trends in the market include the rise of online shopping for home décor products. The convenience and wide range of options available online have made it a popular choice among consumers in North Macedonia. Online retailers are also offering competitive prices, further driving the growth of this trend. Another trend in the market is the increasing popularity of diy home décor projects. Consumers are embracing their creativity and personalizing their living spaces through diy projects, which has led to a growing demand for materials and tools. Local special circumstances in North Macedonia, such as the country's rich cultural heritage, have influenced the Home Décor market. Traditional Macedonian motifs and craftsmanship are often incorporated into home décor products, giving them a unique and authentic touch. This blend of traditional and modern elements appeals to both domestic and international consumers, as it offers a sense of cultural identity and heritage. Underlying macroeconomic factors, such as the country's improving economic conditions and rising disposable incomes, have also contributed to the growth of the Home Décor market in North Macedonia. As the economy continues to strengthen, consumers have more purchasing power and are willing to invest in home décor products to improve their living spaces. Additionally, the government's focus on promoting tourism and attracting foreign investment has led to an increase in the number of hotels, resorts, and other commercial establishments, creating a demand for home décor products in the hospitality sector. Overall, the Home Décor market in North Macedonia is developing in response to changing

Customer preferences: global trends, and

Local special circumstances:. The combination of modern designs, online shopping, diy projects, traditional influences, and improving economic conditions has created a thriving market for home décor products in the country.

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.