Home Décor - Estonia

Estonia

In Estonia, the revenue in the Home Décor market Segment reaches €55.23m in 2024.
It is projected that the market will experience an annual growth rate of 3.82% (CAGR 2024-2029).
When compared on a global scale, in the United States generates the highest revenue, amounting to €32,520m in 2024.
In terms of per capita revenue, each person in Estonia generates €41.87 in 2024.
Estonia's home décor market is embracing minimalist and Scandinavian-inspired designs, reflecting the country's love for simplicity and natural materials.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Décor market in Estonia is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Home Décor market in Estonia are shifting towards more modern and minimalist designs. Customers are increasingly looking for sleek and functional home décor products that fit well with their contemporary lifestyles. They prefer clean lines, neutral colors, and simple yet elegant designs. This shift in preferences is driven by the desire for a clutter-free and organized living space. Additionally, customers are also placing a greater emphasis on sustainability and eco-friendly materials in their home décor choices. Trends in the Home Décor market in Estonia include the growing popularity of Scandinavian design. The simple and functional aesthetic of Scandinavian design resonates well with Estonian customers, who appreciate its clean and timeless appeal. Another trend is the increasing demand for smart home devices and technology-driven home décor products. Customers are embracing the convenience and efficiency offered by these products, such as smart lighting systems and automated home security systems. Additionally, there is a rising interest in handmade and artisanal home décor items, as customers seek unique and personalized pieces that reflect their individual style and taste.

Local special circumstances: in Estonia contribute to the development of the Home Décor market. Estonia has a strong design heritage, with a rich tradition of craftsmanship and creativity. This cultural background fosters a thriving local design scene, with many talented designers and artisans creating innovative and high-quality home décor products. The presence of design festivals and events further promotes the growth of the market by providing a platform for designers to showcase their creations and for customers to discover new and exciting home décor options. Underlying macroeconomic factors also play a role in the development of the Home Décor market in Estonia. The country's stable economy and increasing disposable income levels enable customers to invest in home décor products. As the standard of living improves, customers are willing to spend more on enhancing their living spaces. Additionally, the growing urbanization and rising number of households in Estonia contribute to the demand for home décor items. As more people move into cities and establish their own homes, the need for furniture, lighting, and other home décor essentials increases. Overall, the Home Décor market in Estonia is experiencing growth driven by changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The market is expected to continue expanding as customers seek modern, functional, and sustainable home décor options that reflect their personal style and enhance their living spaces.

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.