Home Décor - Rwanda | Statista Market Forecast

In Rwanda, the revenue in the Home Décor market Segment reached US$43.16m in 2024.
It is projected to experience an annual growth rate of 3.12% (CAGR 2024-2029).
When compared globally, United States leads the market with revenue amounting to US$35bn in 2024.
In terms of per capita figures, in Rwanda generates revenues of US$2.99 per person in 2024.
Rwanda's home décor market is flourishing with a fusion of traditional craftsmanship and contemporary 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 Rwanda has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in the Home Décor market in Rwanda have shifted towards more modern and stylish designs. Consumers are increasingly looking for unique and personalized home décor items that reflect their individual tastes and lifestyles. This trend is influenced by the global market, where consumers are seeking to create a personalized and comfortable living space. In addition, there is a growing demand for eco-friendly and sustainable home décor products, as consumers become more conscious of the environmental impact of their purchasing decisions. Trends in the Home Décor market in Rwanda include the rise of online shopping and the increasing popularity of home renovation and remodeling projects. Online platforms have made it easier for consumers to browse and purchase a wide range of home décor products, including furniture, lighting, and accessories. This has expanded the options available to consumers and has also increased competition among retailers. Home renovation and remodeling projects have become more common as consumers seek to update their living spaces and create a more personalized and comfortable environment. This trend is driven by rising disposable incomes and the desire to increase the value of properties.

Local special circumstances: in Rwanda have also contributed to the development of the Home Décor market. The country has experienced rapid urbanization and a growing middle class, which has led to an increase in demand for home décor products. As more people move to urban areas and improve their living standards, the demand for stylish and modern home décor items has grown. Additionally, the government has implemented policies to promote the growth of the housing sector, which has further stimulated demand for home décor products. Underlying macroeconomic factors, such as economic growth and stability, have also played a role in the development of the Home Décor market in Rwanda. The country has experienced steady economic growth in recent years, which has increased household incomes and consumer spending. This has created a favorable environment for the Home Décor market to thrive. Additionally, political stability and improved infrastructure have attracted foreign investment, leading to the establishment of international home décor brands in the country. Overall, the Home Décor market in Rwanda is developing in response to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. The market is expected to continue growing as consumers seek to create personalized and stylish living spaces, and as the country's economy and middle class continue to expand.

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.