Home Décor - Uzbekistan | Statista Market Forecast

In Uzbekistan, the revenue in the Home Décor market Segment is projected to reach US$143.90m by 2024.
The market is anticipated to experience an annual growth rate of 4.66% (CAGR 2024-2029).
When compared globally, United States is the leader in this market segment, generating a revenue of US$35bn in 2024.
In terms of per capita revenue, in Uzbekistan generates US$4.04 per person in 2024.
"Uzbekistan's home décor market is experiencing a resurgence in traditional craftsmanship, with consumers increasingly seeking out locally made textiles and hand-carved furniture."

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 Uzbekistan has been experiencing significant growth in recent years.

Customer preferences: Uzbekistan has a rich cultural heritage and a strong appreciation for traditional craftsmanship, which is reflected in the preferences of customers in the Home Décor market. Many Uzbekistanis prefer to decorate their homes with handcrafted items that showcase the country's traditional designs and techniques. This includes items such as embroidered textiles, ceramic pottery, and wooden furniture. Customers also value quality and durability in their home décor purchases, as they want their investments to last for a long time.

Trends in the market: One of the key trends in the Home Décor market in Uzbekistan is the increasing popularity of eco-friendly and sustainable products. With growing awareness about environmental issues, customers are seeking out home décor items that are made from natural and renewable materials, and that have a minimal impact on the environment. This includes products made from bamboo, rattan, and recycled materials. Additionally, there is a rising demand for products that are produced using fair trade practices, ensuring that artisans are paid fair wages for their work.

Local special circumstances: Uzbekistan is known for its rich textile industry, with a long history of producing high-quality fabrics and textiles. This has had a significant impact on the Home Décor market, as customers have access to a wide range of beautifully crafted textiles that can be used to decorate their homes. Traditional Uzbek textiles, such as ikat and suzani, are highly sought after both domestically and internationally. These textiles are often used as wall hangings, bedspreads, and upholstery, adding a touch of elegance and color to any home.

Underlying macroeconomic factors: The growth of the Home Décor market in Uzbekistan can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced a period of political stability and economic reforms in recent years, which has attracted foreign investment and stimulated economic growth. This has resulted in an increase in disposable income levels, allowing consumers to spend more on home décor items. Additionally, the government has been actively promoting the development of the tourism industry, which has led to an influx of tourists visiting Uzbekistan and purchasing locally made home décor products as souvenirs. This has further contributed to the growth of the market. In conclusion, the Home Décor market in Uzbekistan is experiencing growth due to customer preferences for traditional and handcrafted products, the increasing demand for eco-friendly and sustainable items, the availability of high-quality textiles, and the underlying macroeconomic factors of political stability, economic reforms, and tourism development.

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.