Home Décor - Philippines | Statista Market Forecast

In the Philippines, the revenue generated in the Home Décor market in 2024 amounts to US$185.10m.
It is projected that the market will experience an annual growth rate of 3.77% (CAGR 2024-2029).
When compared to other countries globally, United States leads in terms of revenue, generating US$35bn in 2024.
In relation to the total population, per person revenues of US$1.55 are generated in 2024.
The demand for locally-made, handmade home décor products in the Philippines is steadily rising, reflecting a growing appreciation for traditional craftsmanship and unique designs.

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 Philippines has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary styles, with a focus on functionality and minimalism. This trend is driven by the increasing urbanization and changing lifestyles of Filipinos. Additionally, the rise of social media and online shopping has made it easier for consumers to access and purchase a wide range of home décor products.

Customer preferences: Filipino consumers are increasingly opting for minimalist and functional home décor products. They are looking for furniture and accessories that serve a dual purpose and can fit into small living spaces. This preference for practicality is driven by the limited space in urban areas and the need to maximize the use of available space. Additionally, consumers are becoming more conscious of the environmental impact of their purchases and are seeking sustainable and eco-friendly home décor options.

Trends in the market: One of the key trends in the Home Décor market in Philippines is the growing popularity of online shopping. Consumers are increasingly turning to e-commerce platforms to purchase home décor products due to the convenience and wide range of options available. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. As a result, traditional brick-and-mortar stores are facing challenges in attracting customers and are adapting by enhancing their online presence. Another trend in the market is the increasing demand for locally-made home décor products. Filipino consumers are showing a preference for products that are made in Philippines, as they value supporting local artisans and businesses. This trend is also driven by the desire for unique and handcrafted items that reflect Filipino culture and heritage. As a result, there has been a rise in the number of local home décor brands and stores that offer a range of locally-made products.

Local special circumstances: The Home Décor market in Philippines is influenced by the country's unique cultural and design influences. Filipino consumers have a strong appreciation for traditional craftsmanship and indigenous materials. This is reflected in the popularity of home décor products that incorporate traditional Filipino designs and materials such as rattan, abaca, and capiz shells. Additionally, the tropical climate of Philippines also influences the choice of home décor products, with consumers opting for light and airy designs that are suitable for the weather.

Underlying macroeconomic factors: The growth of the Home Décor market in Philippines is supported by several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has enabled consumers to invest more in home décor and furnishings. Additionally, the growing middle class in Philippines has resulted in a larger consumer base with higher purchasing power. The rise of urbanization and the development of residential and commercial properties have also contributed to the growth of the market, as consumers seek to furnish their new homes and offices.

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.