Home Décor - Morocco

Morocco

The revenue generated in the Home Décor market Segment in Morocco amounts to €121.60m in 2024.
It is projected that the market will experience an annual growth rate of 1.79% (CAGR 2024-2029).
In comparison to other countries worldwide, in the United States generates the highest revenue, reaching €32,520m in 2024.
When considering the population size, per person revenues of €3.18 are generated in Morocco in 2024.
The traditional craftsmanship and vibrant colors of Moroccan home décor continue to captivate international buyers.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Décor market in Morocco has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on functionality and sustainability. This trend is driven by the increasing urbanization and rising disposable income of the Moroccan population. Additionally, the growing awareness of environmental issues has led to a demand for eco-friendly and ethically sourced home décor products. Moroccan consumers are increasingly looking for unique and personalized home décor items that reflect their individual style and taste. This has led to a rise in the popularity of handmade and artisanal products, such as handcrafted furniture and decorative accessories. Moroccan craftsmanship is renowned for its intricate designs and vibrant colors, making it highly sought after in the home décor market. Another trend in the market is the growing popularity of online shopping for home décor products. Moroccan consumers are increasingly turning to e-commerce platforms to browse and purchase a wide range of home décor items. This shift towards online shopping is driven by the convenience and accessibility it offers, as well as the ability to compare prices and find unique products that may not be available in local stores. In addition to changing

Customer preferences: there are also local special circumstances that are influencing the development of the home décor market in Morocco. The country's rich cultural heritage and diverse ethnic influences have a significant impact on the design and style of home décor products. Moroccan architecture and traditional motifs are often incorporated into home décor items, creating a unique and distinctive aesthetic. Furthermore, the Moroccan government has been actively promoting the development of the tourism industry, which has a direct impact on the home décor market. The country's vibrant and colorful culture attracts tourists from around the world, who often purchase traditional Moroccan home décor items as souvenirs. This influx of tourists has created a demand for authentic and high-quality home décor products, further driving the growth of the market. Underlying macroeconomic factors also play a role in the development of the home décor market in Morocco. The country's stable economic growth and increasing middle class population have contributed to rising disposable incomes and consumer spending. This has led to an increased demand for home décor products, as consumers are willing to invest in creating stylish and comfortable living spaces. In conclusion, the Home Décor market in Morocco is experiencing growth due to changing customer preferences,

Local special circumstances: and

Underlying macroeconomic factors:. The shift towards modern and contemporary designs, the popularity of handmade and artisanal products, and the rise of online shopping are all contributing to the development of the market. Additionally, the country's rich cultural heritage and the promotion of tourism are driving the demand for unique and authentic home décor items. With a stable economy and increasing disposable incomes, the Moroccan market presents opportunities for both local and international home décor brands.

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.