Home Décor - New Zealand

New Zealand

In New Zealand, the Home Décor market Segment generates a revenue of NZ €257.30m in 2024.
It is projected to experience an annual growth rate of 2.39% (CAGR 2024-2029).
When compared to the global market, in the United States leads with a revenue of €32,520m in 2024.
In terms of per capita revenue, each person in New Zealand contributes NZ €48.82 to the Home Décor market Segment in 2024.
The home décor market in New Zealand is experiencing a surge in demand for sustainable and eco-friendly products.

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

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Analyst Opinion

The Home Décor market in New Zealand is experiencing steady growth due to changing customer preferences and underlying macroeconomic factors.

Customer preferences: in the Home Décor market in New Zealand are shifting towards more sustainable and eco-friendly products. Consumers are increasingly conscious of the environmental impact of their purchases and are seeking out products that are made from recycled materials or produced using sustainable manufacturing processes. This trend is driven by a growing awareness of climate change and a desire to reduce waste and carbon emissions. Additionally, consumers are also looking for products that are locally made, supporting local artisans and businesses. Another trend in the market is the increasing demand for minimalist and modern designs. Consumers are opting for clean lines, neutral color palettes, and simple yet functional pieces. This trend is influenced by the global movement towards minimalism and the desire for a clutter-free and calming living space. Additionally, the rise of remote work and the need for versatile home office setups has also contributed to the demand for sleek and practical home décor. Local special circumstances in New Zealand also play a role in the development of the Home Décor market. The country's unique natural landscape and cultural heritage inspire the design aesthetic of many home décor products. New zealand's rich Maori culture and connection to nature are often reflected in the patterns, materials, and motifs used in home décor items. This local touch adds a sense of authenticity and uniqueness to the products, appealing to both local consumers and tourists.

Underlying macroeconomic factors: such as a strong housing market and a growing middle class also contribute to the growth of the Home Décor market in New Zealand. The country has experienced a steady increase in property prices, leading to a rise in home ownership and renovation projects. As homeowners invest in their properties, they are also willing to spend on home décor to create a personalized and stylish living space. Additionally, the growing middle class has more disposable income, allowing them to allocate a larger portion of their budget towards home décor purchases. In conclusion, the Home Décor market in New Zealand is developing in response to changing customer preferences towards sustainability and minimalism. The market is also influenced by

Local special circumstances: such as the country's natural landscape and cultural heritage. Underlying macroeconomic factors, including a strong housing market and a growing middle class, further contribute to the growth 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.