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Canadian Home Decor Market

Delivered September 3, 2019. Contributor: Alexandra Y.

Goals

The goal is to find out the market size and breakdowns of the Canadian home decor market in order to develop a growth strategy for home decor businesses.

Early Findings

  • The global home decor market is expected to reach $664 billion by 2020, growing at a CAGR of 4.2%.
  • The home furnishing store industry in Canada is estimated at $5 billion and is growing at a CAGR of 1%.
  • There are approximately 3,855 home furnishing businesses in Canada.
  • The Canadian furniture market currently sits at about $4.98 billion.
  • In 2018, Ontario had 2,732 furniture manufacturing establishments and Quebec had 2,443.
  • According to this graph, in 2019 Canada's lamp and lighting revenue is $5.2 billion, office furniture is $2.4 billion, and bedroom furniture is $6.2 billion.
  • In 2019, 92% of furniture sales in Canada were completed in-person and only 8% were completed online.
  • We did not find any publicly available statistics for Canada's home fragrance market, though there are plenty that are behind paywalls. We did find that the global home fragrance market is expected to reach $9.4 billion by 2024 and is growing at a CAGR of 4.6%.
  • We found some proprietary research from one of our data partners which may be helpful:
Global Home Fragrance Market Outlook, Including Canada (Icon Group International, $995)
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Proposed next steps:

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