Home Décor - Slovakia | Statista Market Forecast

In Slovakia, the revenue in the Home Décor market Segment in 2024 is estimated to be US$283.50m.
It is projected to experience an annual growth rate of 2.58% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in the Home Décor market Segment, reaching US$35bn in 2024.
In terms of per capita income, each individual in Slovakia generates US$49.72 in revenue in 2024.
The demand for traditional Slovakian pottery and handicrafts is on the rise, as consumers seek unique and authentic home décor options.

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 Slovakia has been experiencing significant growth in recent years, driven by changing customer preferences and the influence of global trends.

Customer preferences: in the Home Décor market in Slovakia have been shifting towards more modern and minimalist designs. Customers are increasingly looking for sleek and simple designs that create a sense of space and openness in their homes. This preference for minimalism is in line with global trends, where consumers are seeking to declutter and simplify their living spaces. In addition to minimalism, there is also a growing demand for eco-friendly and sustainable home décor products in Slovakia. Customers are becoming more conscious of the environmental impact of their purchases and are actively seeking out products that are made from recycled materials or have a low carbon footprint. This trend is driven by a global shift towards sustainability and increased awareness of the need to protect the environment. Another key trend in the Home Décor market in Slovakia is the growing popularity of online shopping. Customers are increasingly turning to online platforms to purchase home décor products, as it offers convenience and a wide range of options. This trend is not unique to Slovakia, but is part of a larger global shift towards e-commerce in the retail industry. Local special circumstances in Slovakia also play a role in the development of the Home Décor market. The country has a rich cultural heritage and a tradition of craftsmanship, which is reflected in the demand for locally-made and artisanal home décor products. Customers in Slovakia appreciate the quality and uniqueness of these products, and are willing to pay a premium for them. Underlying macroeconomic factors also contribute to the growth of the Home Décor market in Slovakia. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, customers have more money to spend on home décor products and are willing to invest in creating a comfortable and stylish living environment. Overall, the Home Décor market in Slovakia is developing in response to changing customer preferences, global trends,

Local special circumstances: and

Underlying macroeconomic factors:. The shift towards minimalism, the demand for eco-friendly products, the rise of online shopping, the appreciation for local craftsmanship, and the increase in disposable income are all driving the growth of the market. As these trends continue to evolve, it is likely that the Home Décor market in Slovakia will continue to expand and diversify 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.