Home Décor - Israel

Israel

In 2024, the Home Décor market Segment in Israel is projected to generate a revenue of €405.60m.
This market is expected to experience an annual growth rate of 2.23% (CAGR 2024-2029).
When compared to other countries globally, in the United States leads in generating the highest revenue, reaching €32,520m in 2024.
On a per capita basis, in 2024, each person in Israel contributes €43.56 in revenue to the Home Décor market Segment.
The Israeli home décor market is currently experiencing a surge in demand for minimalist and eco-friendly designs.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Décor market in Israel has been experiencing significant growth in recent years, driven by changing consumer preferences and the country's strong economy. Customer preferences in the Home Décor market in Israel have been shifting towards modern and minimalist designs. Consumers are increasingly looking for sleek and functional furniture and accessories that fit well in their smaller living spaces. This trend is driven by the growing number of young professionals and urban dwellers who prioritize convenience and simplicity in their homes. Additionally, there is a growing interest in eco-friendly and sustainable products, with consumers seeking out furniture and décor made from recycled or renewable materials. Trends in the market include the rise of online shopping for Home Décor products. Israeli consumers are increasingly turning to e-commerce platforms to purchase furniture and accessories, attracted by the convenience and wider range of products available online. This trend has been further accelerated by the covid-19 pandemic, which has led to an increase in online shopping across all sectors. As a result, traditional brick-and-mortar retailers in the Home Décor market are facing challenges and are having to adapt their strategies to remain competitive. Another trend in the market is the growing popularity of home renovation and remodeling projects. With the strong economy and low interest rates, many homeowners in Israel are investing in upgrading their homes. This includes purchasing new furniture, lighting fixtures, and decorative items to create a fresh and modern look. The demand for professional interior designers and decorators has also increased as consumers seek expert advice to transform their living spaces. Local special circumstances in the Home Décor market in Israel include the country's diverse cultural influences. Israel is a melting pot of different cultures and traditions, which is reflected in the variety of home décor styles available. From traditional Middle Eastern designs to contemporary European influences, consumers in Israel have a wide range of options to choose from. This diversity creates opportunities for both local and international brands to cater to different

Customer preferences:. Underlying macroeconomic factors that contribute to the development of the Home Décor market in Israel include the country's strong gdp growth and low unemployment rate. Israel has a thriving economy, driven by sectors such as technology, innovation, and tourism. This has led to increased disposable income and consumer confidence, which in turn fuels spending on Home Décor products. Additionally, the government's favorable policies towards small businesses and entrepreneurship have encouraged the growth of local home décor brands and retailers. In conclusion, the Home Décor market in Israel is experiencing growth due to changing customer preferences, the rise of online shopping, and an increase in home renovation projects. The country's diverse cultural influences and strong economy further contribute to the development of the market.

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.