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  2. Consumer
  3. Furniture
  4. Bedroom Furniture

Closets, Nightstands & Dressers - Nigeria

Nigeria
  • In Nigeria, the revenue generated in the Closets, Nightstands & Dressers market in 2024 amounts to US$258.10m.
  • It is projected that this market will experience an annual growth rate of 2.62% (CAGR 2024-2029).
  • When compared globally, United States generates the highest revenue in this segment, with a total of US$10bn in 2024.
  • Taking into account the total population, the per person revenue generated in Nigeria in 2024 is US$1.13.
  • The demand for locally-made, customizable closets, nightstands, and dressers is on the rise in Nigeria, reflecting a growing preference for unique, artisanal furniture pieces.

Definition:

This segment focuses on furniture pieces which are primarily found in the bedroom. It includes wooden furniture such as wardrobes, closets, chests, dressers, and nightstands. Closets and dressers are primarily used to store clothing. Meanwhile, nightstands are practical for storing items which people need before, during, or after sleeping, such as, books, medicine, or a glass of water.

Additional Information:

The Closets, Nightstands & Dressers subsubsegment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This subsubsegment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

In-Scope

  • Closets
  • Dressers
  • Nightstands
  • Wardrobes

Out-Of-Scope

  • Beds and headboards

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Nov 2024

Source: Statista Market Insights

Most recent update: Jul 2024

Source: Statista Market Insights

Most recent update: Nov 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Nov 2024

Source: Statista Market Insights

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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