Home Décor - Western Asia | Statista Market Forecast

In Western Asia, the revenue in the Home Décor market Segment is projected to reach US$4.44bn in 2024.
It is anticipated that the market will experience an annual growth rate of 2.03% (CAGR 2024-2029).
Comparatively, United States leads the global market in terms of revenue, with US$35bn in 2024.
When considering the population, per person revenues amount to US$19.94 in 2024.
In Western Asia, the home décor market is experiencing a surge in demand for traditional handmade rugs and intricate mosaic art.

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 Western Asia is experiencing significant growth and development. Customer preferences in this region are shifting towards modern and contemporary styles, with a focus on minimalistic and functional designs. There is also a growing demand for eco-friendly and sustainable home décor products. Trends in the market show a rise in the popularity of online shopping for home décor items. This can be attributed to the convenience and wide range of options available online. Additionally, there is a growing interest in diy (do-it-yourself) home décor projects, as consumers are looking for unique and personalized items to decorate their homes. Local special circumstances in Western Asia, such as a booming real estate market and an increase in disposable income, have contributed to the growth of the Home Décor market. The region is witnessing a rapid urbanization and a rise in the number of new housing projects, leading to a higher demand for home décor products. Furthermore, the younger generation in Western Asia is becoming more design-conscious and is willing to invest in high-quality and aesthetically pleasing home décor items. Underlying macroeconomic factors, such as a stable economy and favorable government policies, have also played a role in the development of the Home Décor market in Western Asia. The region has experienced steady economic growth in recent years, which has led to an increase in consumer spending power. Moreover, governments in Western Asia have implemented policies to promote the growth of the retail sector, including the home décor industry. In conclusion, the Home Décor market in Western Asia is thriving due to changing

Customer preferences: online shopping trends,

Local special circumstances: and

Underlying macroeconomic factors:. As the region continues to develop and urbanize, the demand for home décor products is expected to further increase.

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.