Home Décor - Thailand | Statista Market Forecast

In Thailand, the revenue in the Home Décor market Segment in 2024 is estimated to be US$442.80m.
It is projected to experience an annual growth rate of 2.26% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, reaching US$35bn in 2024.
In terms of per capita income, each person in Thailand is expected to generate US$6.16 in revenue in 2024.
Thailand's home décor market is experiencing a surge in demand for traditional Thai handicrafts, reflecting a growing appreciation for local craftsmanship and cultural heritage.

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 Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in Thailand have shifted towards more modern and contemporary home décor styles. Consumers are increasingly looking for unique and stylish pieces that reflect their personal taste and lifestyle. This trend is driven by the growing influence of social media and the desire to create aesthetically pleasing living spaces. Additionally, there is a rising demand for eco-friendly and sustainable home décor products, as consumers become more conscious of their environmental impact. Trends in the market show a strong demand for locally made and artisanal home décor products. Thai consumers appreciate the craftsmanship and quality of locally produced items, and are willing to pay a premium for them. This trend is also driven by a desire to support local businesses and promote traditional Thai craftsmanship. In addition, there is a growing interest in incorporating traditional Thai elements into modern home décor, creating a unique fusion of styles.

Local special circumstances: in Thailand contribute to the growth of the Home Décor market. The country's booming tourism industry has led to an increase in demand for home décor products, as tourists seek to bring a piece of Thailand back home with them. This has created opportunities for local artisans and small businesses to showcase their products to a wider audience. Furthermore, the government's efforts to promote the creative economy have also played a role in supporting the growth of the Home Décor market. Initiatives such as design competitions and exhibitions have helped to raise awareness of Thai design and attract both local and international buyers. Underlying macroeconomic factors have also contributed to the development of the Home Décor market in Thailand. The country's strong economic growth has led to an increase in disposable income, allowing consumers to spend more on home décor products. Additionally, the rapid urbanization and growing middle class in Thailand have created a larger consumer base for the Home Décor market. As more people move into urban areas and purchase new homes, there is a greater demand for home décor products to furnish and decorate these spaces. In conclusion, the Home Décor market in Thailand is experiencing growth due to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. The demand for modern and contemporary styles, locally made products, and eco-friendly options is driving the market forward. With the support of the tourism industry, government initiatives, and a growing middle class, the Home Décor market in Thailand is expected to continue to thrive 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.