Home Décor - Timor-Leste | Statista Market Forecast

In Timor-Leste, the revenue in the Home Décor market Segment in 2024 is recorded at US$1.88m.
It is projected that this market will experience an annual growth rate of 1.72% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the market with a revenue of US$35bn in 2024.
To put it in perspective, in Timor-Leste, the per person revenue for Home Décor market in 2024 amounts to US$1.36.
Timor-Leste's home décor market is thriving with a vibrant mix of traditional handmade crafts and modern designs inspired by its rich 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 Timor-Leste has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in Timor-Leste have shifted towards more modern and stylish home décor options. Consumers are increasingly seeking products that are not only functional, but also aesthetically pleasing and reflective of their personal style. This trend is in line with global market preferences, where consumers are increasingly interested in creating unique and personalized living spaces. As a result, there has been a growing demand for a wide range of home décor products, including furniture, lighting, textiles, and accessories. One of the key trends in the market is the growing popularity of sustainable and eco-friendly home décor products. Consumers in Timor-Leste, like many other parts of the world, are becoming more environmentally conscious and are looking for products that are made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is driven by a combination of factors, including increased awareness of environmental issues and a desire to support brands that align with their values. Another trend in the market is the rise of online shopping for home décor products. With the increasing availability of internet access and the convenience of online shopping, more consumers in Timor-Leste are turning to e-commerce platforms to purchase home décor items. This trend is in line with the global shift towards online retail, as consumers appreciate the ease of browsing and ordering products from the comfort of their own homes. Online shopping also offers a wider range of options and the ability to compare prices, making it an attractive option for consumers in Timor-Leste.

Local special circumstances: in Timor-Leste have also contributed to the development of the Home Décor market. The country's growing middle class and rising disposable incomes have led to an increase in consumer spending on home improvement and decoration. As more people are able to afford to invest in their homes, the demand for home décor products has naturally increased. Additionally, the government of Timor-Leste has been actively promoting the development of the tourism industry, which has created a demand for high-quality home décor products to cater to the needs of the growing number of tourists visiting the country. Underlying macroeconomic factors, such as economic growth and urbanization, have also played a role in the development of the Home Décor market in Timor-Leste. As the economy has grown and urban areas have expanded, there has been an increased demand for home décor products to furnish and decorate new homes and apartments. This trend is expected to continue as the country's economy continues to grow and more people move to urban areas. In conclusion, the Home Décor market in Timor-Leste is developing in response to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. The market is seeing a shift towards more modern and sustainable home décor options, as well as a growing demand for online shopping. With the country's growing middle class and rising disposable incomes, as well as government support for the tourism industry, the market is expected to continue to grow 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.