Home Décor - Mexico

Mexico

In Mexico, the revenue in the Home Décor market Segment reaches a significant amount of €1.63bn in the year 2024.
It is projected that this market will experience an annual growth rate of 1.43% (CAGR 2024-2029).
When compared globally, in the United States leads with the highest revenue of €32,860m in the year 2024.
Taking into account the total population, the per person revenue in Mexico amounts to €12.61 in the year 2024.
Mexico's home decor market is experiencing a surge in demand for traditional Mexican handicrafts, reflecting a renewed appreciation for the country's rich cultural heritage.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Décor market in Mexico has been experiencing significant growth in recent years, driven by changing customer preferences and the country's unique local special circumstances.

Customer preferences: in Mexico have shifted towards more modern and contemporary home décor styles, with a preference for minimalist designs and neutral color palettes. This trend is in line with the global market, which has seen a rise in demand for sleek and simple home décor products. In addition to modern styles, Mexican customers also value products that are locally made and environmentally friendly. There is a growing interest in supporting local artisans and purchasing products that are sustainably sourced. This trend is reflective of a larger global movement towards ethical and sustainable consumption. One of the key trends in the Home Décor market in Mexico is the increasing popularity of online shopping. With the rise of e-commerce platforms and the convenience of online shopping, more customers are choosing to purchase home décor products online. This trend is expected to continue as internet penetration and smartphone usage in Mexico continue to increase. Another trend in the market is the growing demand for smart home technology. Mexican customers are increasingly interested in home automation and integrating technology into their homes. This includes products such as smart lighting, thermostats, and security systems. The demand for smart home technology is driven by the desire for convenience, energy efficiency, and enhanced security. In terms of

Local special circumstances: mexico's rich cultural heritage and vibrant arts and crafts scene play a significant role in the Home Décor market. Mexican customers have a strong appreciation for traditional craftsmanship and indigenous design influences. This has led to a resurgence of interest in traditional Mexican home décor, such as handwoven textiles, pottery, and folk art. The combination of modern and traditional styles creates a unique aesthetic that is distinctly Mexican. Underlying macroeconomic factors also contribute to the development of the Home Décor market in Mexico. The country's growing middle class and increasing disposable income have fueled consumer spending on home décor products. Additionally, a booming real estate market and a rise in urbanization have led to an increase in demand for home furnishings and décor items. In conclusion, the Home Décor market in Mexico is experiencing growth due to changing customer preferences, the rise of online shopping, the demand for smart home technology, local special circumstances, and

Underlying macroeconomic factors:. As Mexican customers continue to seek out modern and sustainable home décor products, the market is expected to expand further in the coming years.

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.