Home Décor - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the Home Décor market Segment generates a revenue of €1.29bn in 2024.
It is projected to experience an annual growth rate of 1.94% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation, reaching €32,520m in 2024.
In terms of per capita revenue, in Saudi Arabia generates €34.53 per person in 2024.
"Traditional Arabian motifs, such as intricate calligraphy and geometric patterns, continue to dominate the home décor market in Saudi Arabia, reflecting 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 Saudi Arabia is experiencing significant growth and development in recent years. Customer preferences in the Home Décor market in Saudi Arabia have shifted towards more modern and contemporary styles. Traditional designs are still popular, but there is a growing demand for sleek and minimalist furniture and accessories. Customers are also becoming more conscious of sustainability and eco-friendly materials, leading to an increased interest in products made from natural and recycled materials. Additionally, there is a growing trend of mixing different styles and incorporating elements from different cultures, creating a unique and personalized look. One of the key trends in the Home Décor market in Saudi Arabia is the rise of online shopping. With the increasing availability of high-speed internet and the convenience it offers, more and more customers are turning to online platforms to purchase home décor products. This trend has been further accelerated by the covid-19 pandemic, as people have been spending more time at home and seeking ways to improve their living spaces. Online retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and convenient delivery options. Another trend in the market is the growing popularity of smart home technology. Saudi Arabia has been at the forefront of technological advancements in the region, and this is reflected in the Home Décor market. Customers are increasingly looking for products that integrate with smart home systems, allowing them to control lighting, temperature, and other aspects of their home environment through their smartphones or voice commands. This trend is driven by the desire for convenience, energy efficiency, and the overall modernization of homes. Local special circumstances in Saudi Arabia also play a role in the development of the Home Décor market. The country has a young and affluent population, with a high percentage of expatriates. This demographic profile creates a demand for a wide range of home décor styles and products, catering to different tastes and preferences. Additionally, Saudi Arabia has a strong cultural heritage and a rich history of craftsmanship, which is reflected in the traditional and artisanal home décor products available in the market. Underlying macroeconomic factors also contribute to the growth of the Home Décor market in Saudi Arabia. The country has a strong economy and a high per capita income, which enables consumers to spend on home improvement and decoration. The government's focus on diversifying the economy and reducing dependence on oil has also led to increased investment in the construction sector, driving the demand for home décor products. Furthermore, the government's Vision 2030 initiative, which aims to transform Saudi Arabia into a vibrant society and a thriving economy, includes the development of the tourism sector. This will create opportunities for the Home Décor market, as tourists seek authentic and locally-made products to take back home as souvenirs. In conclusion, the Home Décor market in Saudi Arabia is experiencing growth and development driven by changing

Customer preferences: the rise of online shopping, the popularity of smart home technology,

Local special circumstances: and

Underlying macroeconomic factors:. This presents opportunities for both local and international players in the market to cater to the diverse needs and preferences of customers in Saudi Arabia.

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.