Home Décor - Zambia | Statista Market Forecast

In Zambia, the revenue generated in the Home Décor market Segment in 2024 amounts to US$18.36m.
It is projected to grow at an annual rate of 5.98% (CAGR 2024-2029).
When compared globally, United States leads the market with revenue of US$35bn in 2024.
In terms of per capita revenue, each person in Zambia generates US$0.87 in 2024.
Zambia's home décor market is embracing traditional African patterns and craftsmanship, infusing homes with vibrant colors and cultural authenticity.

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 Zambia has been witnessing significant growth in recent years. Customer preferences have shifted towards more modern and stylish home décor products, driving the demand for innovative and unique designs. This trend is in line with the global market, where consumers are increasingly seeking personalized and aesthetically pleasing home furnishings.

Customer preferences: In Zambia, customers are increasingly looking for home décor products that reflect their individual style and personality. They are willing to invest in high-quality and durable items that can enhance the overall look and feel of their homes. This has led to a rise in demand for a wide range of home décor items such as furniture, lighting fixtures, textiles, and decorative accessories.

Trends in the market: One of the key trends in the Home Décor market in Zambia is the growing popularity of eco-friendly and sustainable products. Consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking products that are made from recycled or renewable materials. This trend is also driven by the global shift towards sustainability and the increasing availability of eco-friendly home décor options. Another trend in the market is the growing influence of social media and online platforms on consumer purchasing behavior. With the increasing use of smartphones and internet access, consumers in Zambia are now more connected than ever before. They are exposed to a wide range of home décor trends and ideas through social media platforms such as Instagram and Pinterest. This has led to a greater demand for trendy and fashionable home décor products that are showcased on these platforms.

Local special circumstances: One of the unique aspects of the Home Décor market in Zambia is the influence of local craftsmanship and traditional designs. Zambian artisans are known for their skill and creativity in producing handmade home décor items such as baskets, pottery, and woven textiles. These products not only add a touch of authenticity to the homes of consumers but also support local artisans and promote cultural heritage.

Underlying macroeconomic factors: The growth of the Home Décor market in Zambia can be attributed to several macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed consumers to allocate a larger portion of their budget towards home décor products. Furthermore, urbanization and the growth of the middle class have also contributed to the expansion of the Home Décor market. As more people move to urban areas and aspire to improve their living standards, the demand for home décor products has increased. Additionally, the rise of real estate development and home renovation projects has further boosted the demand for home décor items. In conclusion, the Home Décor market in Zambia is witnessing growth due to changing customer preferences, including a shift towards modern and stylish designs. The market is also influenced by global trends such as the demand for eco-friendly products and the impact of social media on consumer behavior. Local craftsmanship and traditional designs add a unique touch to the market, while underlying macroeconomic factors such as economic growth and urbanization drive the overall expansion of the market.

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.