Home Décor - Hungary

Hungary

In Hungary, the revenue in the Home Décor market Segment reaches €407.00m in 2024.
It is projected to experience an annual growth rate of 4.79% (CAGR 2024-2029).
When comparing globally, United States leads with a revenue of €32,860m in 2024.
In terms of per capita figures, each person in Hungary generates a revenue of €40.72 in 2024.
Hungary's home décor market is experiencing a surge in demand for traditional Hungarian folk art-inspired designs.

Key regions: France, Brazil, Canada, Worldwide, United Kingdom

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Home Décor market in Hungary has experienced significant growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.

Customer preferences: in the Home Décor market in Hungary have shifted towards more modern and contemporary styles. This trend can be attributed to the increasing influence of global design trends and the growing popularity of minimalist aesthetics. Customers are seeking sleek and functional home décor products that reflect their individual tastes and lifestyles. Additionally, there is a growing demand for eco-friendly and sustainable home décor options, as consumers become more conscious of their environmental impact. One of the key trends in the Home Décor market in Hungary is the rise of online shopping. With the increasing availability of high-speed internet and the convenience of online shopping, more consumers are opting to purchase home décor products online. This trend is driven by factors such as the wider selection of products available online, competitive pricing, and the ability to compare prices and read customer reviews. Online retailers are capitalizing on this trend by offering a seamless shopping experience and personalized recommendations based on customer preferences. Another trend in the Home Décor market in Hungary is the growing popularity of diy (do-it-yourself) home décor projects. Many consumers are choosing to personalize their living spaces by creating their own unique home décor items. This trend is driven by factors such as the desire for individuality and the satisfaction of creating something with one's own hands. diy home décor projects also offer a more cost-effective alternative to purchasing pre-made products. Local special circumstances in Hungary, such as the rich cultural heritage and craftsmanship, have also influenced the Home Décor market. Hungarian traditional crafts, such as pottery, embroidery, and woodwork, have gained popularity among consumers looking for unique and authentic home décor items. This trend is driven by the appreciation for traditional craftsmanship and the desire to support local artisans. Underlying macroeconomic factors, such as the growing economy and increasing disposable income, have contributed to the growth of the Home Décor market in Hungary. As the economy continues to strengthen, consumers have more purchasing power and are willing to spend on home décor products. Additionally, favorable government policies and incentives have encouraged investment in the housing sector, leading to increased demand for home décor products. In conclusion, the Home Décor market in Hungary is experiencing growth due to changing customer preferences, the rise of online shopping, the popularity of diy home décor projects,

Local special circumstances: and favorable macroeconomic factors. As consumers continue to prioritize modern and contemporary styles, online retailers and diy home décor projects are expected to thrive. The appreciation for Hungarian traditional crafts and the increasing disposable income will also 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 segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.