Home Décor - Bahrain

Bahrain

In Bahrain, the revenue in the Home Décor market Segment is projected to reach €53.93m in 2024.
It is anticipated that the market will experience an annual growth rate of 0.98% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue with €32,520m in 2024.
In terms of per person revenues, in Bahrain generates approximately €35.99 in 2024.
Bahrain's home décor market is experiencing a surge in demand for traditional Arabesque designs, reflecting the country's rich cultural heritage.

Key regions: India, France, United States, Canada, Denmark

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Analyst Opinion

The Home Décor market in Bahrain is experiencing significant growth and development. Customer preferences are shifting towards more modern and contemporary designs, with a focus on functionality and convenience. This trend is driven by the increasing urbanization and modernization of Bahrain, as well as the influence of global design trends. Additionally, local special circumstances such as the booming real estate market and the growing number of expatriates in Bahrain are also contributing to the growth of the Home Décor market.

Customer preferences: in Bahrain are increasingly leaning towards modern and contemporary designs in home décor. This is reflected in the demand for sleek and minimalist furniture, as well as clean and simple lines in home accessories. Customers are also seeking out functional and space-saving solutions, as urban living spaces become smaller and more compact. This shift in preferences can be attributed to the influence of global design trends, as well as the desire for a more modern and cosmopolitan lifestyle. The Home Décor market in Bahrain is also witnessing a surge in demand due to the booming real estate market. The construction of new residential and commercial properties has created a need for furniture and home accessories, driving the growth of the market. Additionally, the growing number of expatriates in Bahrain has also contributed to the increased demand for home décor products. Expatriates often bring their own unique tastes and preferences, leading to a greater variety of styles and designs in the market. Underlying macroeconomic factors such as economic growth and rising disposable incomes are also driving the development of the Home Décor market in Bahrain. As the economy grows, people have more purchasing power and are willing to spend on home décor products. This is further supported by the increasing number of dual-income households, where both partners are working and have higher disposable incomes. These factors have created a favorable environment for the growth of the Home Décor market in Bahrain. In conclusion, the Home Décor market in Bahrain is experiencing significant growth and development. Customer preferences are shifting towards modern and contemporary designs, driven by the increasing urbanization and modernization of Bahrain, as well as the influence of global design trends. The booming real estate market and the growing number of expatriates in Bahrain are also contributing to the growth of the market.

Underlying macroeconomic factors: such as economic growth and rising disposable incomes are further driving the development of the Home Décor market in Bahrain.

Methodology

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.