Household expenditure on home goods in Spain exhibited fluctuations from 2013 to 2023. From a low of 28.64 billion Euros in 2013, it experienced a notable increase to 35.66 billion Euros in 2023. While there was a significant dip in 2020 due to the pandemic, the market rebounded with a positive year-on-year growth of 2.11% in 2023. The compound annual growth rate (CAGR) over the last five years stands at an average of 1.1%.
Forecast data from 2024 suggest a steady growth trend, culminating in an expected expenditure of 39.25 billion Euros by 2028. This represents a forecasted CAGR of 1.52% over the next five years, translating to a cumulative growth rate of 7.84% through 2028.
Future trends to watch for:
- Impact of economic fluctuations on disposable income and spending habits.
- Potential technological advancements influencing consumer preferences for home goods.
- Environmental and sustainable product demand influencing market dynamics.
- Effect of demographic changes, including shifts toward urbanization or changes in household composition.