Home Décor - Suriname | Statista Market Forecast

in Suriname, a country South_America, also has a significant presence in the Home Décor market Segment.
In 2024, the revenue in this segment is estimated to be US$8.79m.
Looking ahead, the market is projected to experience an annual growth rate of 7.53% (CAGR 2024-2029).
When comparing the global market, United States leads the way with a substantial revenue of US$35bn in 2024.
However, in terms of per person revenues, in Suriname generates US$13.99, showcasing a significant contribution to the Home Décor market Segment relative to its population.
Suriname's home décor market is experiencing a surge in demand for traditional Afro-Surinamese art and craft items.

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 Suriname is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Surinamese consumers are increasingly seeking to personalize their living spaces and create unique and inviting environments. They are looking for home décor items that reflect their individual style and personality. This has led to a growing demand for a wide range of home décor products, including furniture, lighting, textiles, and accessories. Customers are also showing a preference for sustainable and eco-friendly products, as they become more conscious of the environmental impact of their purchases.

Trends in the market: One of the key trends in the Surinamese home décor market is the rise of online shopping. With the increasing availability of high-speed internet and the convenience of online platforms, more and more consumers are turning to online retailers to purchase home décor items. This trend has been further accelerated by the COVID-19 pandemic, which has limited physical shopping options and encouraged consumers to explore online alternatives. Another trend in the market is the growing popularity of minimalist and Scandinavian-inspired designs. Surinamese consumers are embracing clean lines, neutral colors, and functional yet stylish furniture and accessories. This trend is driven by a desire for simplicity, functionality, and a clutter-free living environment.

Local special circumstances: Suriname is a culturally diverse country, with influences from various ethnic groups such as the Hindustani, Creole, and Javanese communities. This diversity is reflected in the home décor market, with a wide range of styles and designs available to cater to different tastes and preferences. Local artisans and craftsmen play a significant role in the market, offering unique and handmade home décor items that showcase the country's rich cultural heritage.

Underlying macroeconomic factors: Suriname has experienced steady economic growth in recent years, which has contributed to an increase in disposable income and consumer spending. This has provided consumers with more purchasing power to invest in home décor items and upgrade their living spaces. Additionally, the construction sector has been booming in Suriname, with new residential and commercial projects driving the demand for home décor products. In conclusion, the Home Décor market in Suriname is flourishing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Surinamese consumers are increasingly seeking personalized and sustainable home décor options, while online shopping and minimalist designs are gaining traction. The country's cultural diversity and economic growth further contribute to the vibrant and evolving home décor market in Suriname.

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.