Home Décor - Peru

Peru

In Peru, the revenue in the Home Décor market Segment reaches a substantial amount of €208.80m in the year 2024.
This market is projected to experience an annual growth rate of 2.88%, as measured by the compound annual growth rate (CAGR) between 2024 and 2029.
When compared globally, in the United States stands out as the leader in revenue generation, with a staggering €32,520m in 2024.
To put things into perspective, this translates to per person revenues of €6.02 in 2024, when considering the total population figures.
Peru's home décor market is embracing the vibrant colors and intricate patterns of traditional Andean textiles.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Décor market in Peru has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in Peru have shifted towards modern and contemporary home décor styles. Consumers are increasingly looking for sleek and minimalist designs that create a sense of space and simplicity in their homes. This preference for modern styles is influenced by global design trends and the desire to create a more sophisticated and cosmopolitan living environment. Additionally, there is a growing interest in sustainable and eco-friendly home décor products, as consumers become more conscious of their environmental impact.

Trends in the market: reflect the changing customer preferences in Peru. There has been a rise in the popularity of scandinavian-inspired home décor, characterized by clean lines, natural materials, and a neutral color palette. This trend aligns with the preference for modern and minimalist designs, as well as the growing interest in sustainable products. Another emerging trend is the use of bold colors and patterns in home décor, adding a touch of vibrancy and personality to living spaces. This trend reflects a desire for self-expression and individuality in home design.

Local special circumstances: also contribute to the development of the Home Décor market in Peru. The country has a rich cultural heritage and a strong tradition of craftsmanship. Peruvian artisans are known for their skill and creativity, producing unique and high-quality home décor products. This local craftsmanship adds value to the market, attracting both domestic and international consumers who appreciate the authenticity and artistry of Peruvian home décor. Underlying macroeconomic factors further support the growth of the Home Décor market in Peru. The country has experienced sustained economic growth in recent years, leading to an increase in disposable income and consumer spending. This economic stability provides consumers with the confidence and means to invest in home décor products. Additionally, urbanization and the growth of the middle class contribute to the expansion of the market, as more people move into urban areas and seek to create comfortable and stylish living spaces. In conclusion, the Home Décor market in Peru is developing in response to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and contemporary styles, the popularity of scandinavian-inspired designs, and the use of bold colors and patterns reflect the evolving tastes of Peruvian consumers. The country's rich cultural heritage and tradition of craftsmanship, along with sustained economic growth and urbanization, 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.