Furniture - Burkina Faso

Burkina Faso

In Burkina Faso, the revenue in the Furniture market amounts to US$73.06m in 2024.
It is expected that the market will grow annually by 2.87% (CAGR 2024-2029).
The largest segment in the market is the Living Room Furniture segment with a market volume of US$22.78m in 2024.
When compared globally, in the United States generates the highest revenue with US$264bn in 2024.
In relation to the total population figures, per person revenues of US$3.07 are generated in 2024.
Burkina Faso's furniture market is experiencing a surge in demand for locally-made, eco-friendly and sustainable products.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market 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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Burkina Faso is experiencing significant growth and development.

Customer preferences: Customers in Burkina Faso have a growing preference for modern and stylish furniture designs. They are increasingly looking for furniture that not only provides functionality but also adds aesthetic value to their homes. The demand for furniture that is durable and easy to maintain is also on the rise. Additionally, customers are showing a preference for furniture that is made from sustainable materials and is environmentally friendly.

Trends in the market: One of the key trends in the furniture market in Burkina Faso is the shift towards online shopping. With the increasing availability of internet access and the convenience of online shopping, more customers are choosing to purchase furniture online. This trend is driven by factors such as a wider range of options, competitive pricing, and the ability to compare products easily. As a result, furniture retailers in Burkina Faso are increasingly investing in their online presence and e-commerce capabilities. Another trend in the market is the growing demand for customized furniture. Customers are looking for furniture that is tailored to their specific needs and preferences. This trend is driven by the desire for uniqueness and personalization. Furniture retailers in Burkina Faso are responding to this trend by offering customizable options and providing a wide range of choices in terms of materials, colors, and designs.

Local special circumstances: One of the special circumstances in the furniture market in Burkina Faso is the influence of traditional and cultural factors. Burkina Faso has a rich cultural heritage, and customers often prefer furniture that reflects their cultural identity. This includes furniture that is made using traditional craftsmanship techniques and materials. Furniture retailers in Burkina Faso are incorporating these traditional elements into their designs to cater to the local market.

Underlying macroeconomic factors: The growth and development of the furniture market in Burkina Faso can be attributed to several underlying macroeconomic factors. The country has been experiencing steady economic growth, which has resulted in an increase in disposable income and purchasing power. This, in turn, has led to an increase in consumer spending on furniture. Additionally, the growing urbanization in Burkina Faso has created a demand for furniture as more people move to cities and require furnishings for their homes. The government's efforts to promote the manufacturing sector and attract foreign investment have also contributed to the growth of the furniture market in Burkina Faso.

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.