The Brazilian interior products market is one of the fastestgrowing markets in the world. The market registered a CAGR of 2.66% during the review period to reach US21,825.5 million in 2010. Despite a slowdown during the global economic crisis, the market recovered quickly in 2010; stable financial conditions, strong demographic growth, the rising middle class and the impact of upcoming sporting events such as the 2014 FIFA World Cup 2014 and the 2016 Olympic Games are driving the construction and housing sectors in Brazil, spurring demand for interior products in the country.
Increasing retail sales, particularly for contemporary furniture, tableware and decorative products, are a direct consequence of the changing lifestyle and increasing disposable income of Brazils middle class, while the countrys economic growth and the expansion of international retailers are expected to generate opportunities for exporters. During the review period, the number of nuclear families grew rapidly in Brazil. This growth is driving the demand for new housing products in the country, which is, in turn, driving the interior products market.
With the establishment of large urban areas, the Brazilian construction sector experienced unusual growth during the review period. Increasing urbanization and the impact of upcoming sporting events are also expected to influence the Brazilian hospitality, new housing, construction and house renovation sectors. This growth is also expected to drive demand for interior products to serve the large number of foreign tourists. |
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