Home Décor - South Africa

South Africa

In South Africa, the revenue in the Home Décor market Segment in 2024 amounts to US$555.20m.
It is projected that the market will experience an annual growth rate of 2.01% (CAGR 2024-2029).
When compared to other countries around Worldwide, in the United States generates the highest revenue in this segment, reaching US$35,440m in 2024.
In terms of per person revenues, in South Africa generates US$9.10 in 2024.
South Africa's home décor market is seeing a rise in demand for locally sourced and sustainable materials, reflecting a growing preference for eco-friendly products.

Key regions: India, France, United States, Canada, Denmark

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Analyst Opinion

The Home Décor market in South Africa has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and minimalist designs, with a focus on sustainable and eco-friendly materials. This trend is in line with global market trends, as consumers worldwide are becoming more conscious of the environmental impact of their purchasing decisions. Additionally, the rise of e-commerce has made it easier for consumers to access a wide range of home décor products, further driving the growth of the market.

Customer preferences: in the South African Home Décor market have evolved to prioritize modern and minimalist designs. This shift can be attributed to changing lifestyles and the influence of global design trends. Consumers are increasingly looking for home décor products that are sleek, functional, and aesthetically pleasing. This preference for modern designs is reflected in the increasing demand for furniture and accessories with clean lines, neutral colors, and simple shapes. Additionally, there is a growing interest in sustainable and eco-friendly materials, such as reclaimed wood, bamboo, and recycled textiles. This reflects a broader global trend towards conscious consumption and environmental responsibility. The Home Décor market in South Africa is also influenced by local special circumstances. One of these is the country's rich cultural heritage, which is reflected in the demand for home décor products that celebrate African art, textiles, and craftsmanship. This has led to an increased interest in traditional African patterns, motifs, and materials, which are integrated into modern designs. Additionally, South africa's diverse population and multicultural society contribute to a demand for home décor products that cater to different tastes and preferences. This has resulted in a wide variety of styles and designs available in the market, ranging from traditional to contemporary. Underlying macroeconomic factors have also played a role in the development of the Home Décor market in South Africa. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed more consumers to invest in home décor products and upgrade their living spaces. Additionally, the rise of e-commerce has made it easier for consumers to access a wide range of home décor products, including those from international brands. This has increased competition in the market and provided consumers with more options to choose from. In conclusion, the Home Décor market in South Africa is developing in response to changing customer preferences,

Local special circumstances: and

Underlying macroeconomic factors:. The shift towards modern and minimalist designs, the demand for sustainable and eco-friendly materials, and the influence of South africa's cultural heritage are shaping the market. Additionally, the country's steady economic growth and the rise of e-commerce have contributed to the growth of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.