Furniture - Cameroon

Cameroon

In Cameroon, the revenue in the Furniture market is projected to reach US$203.90m in 2024.
It is expected that the market will experience an annual growth rate of 2.42% (CAGR 2024-2029).
The largest segment in this market is the Home Décor segment, which is estimated to have a market volume of US$66.81m in 2024.
When compared globally, in the United States generates the highest revenue in this market, reaching US$264bn in 2024.
In terms of per capita revenue, each person in Cameroon generates US$6.94 in 2024.
Cameroon's furniture market is experiencing a surge in demand for traditional, handcrafted pieces due to a growing appreciation for local craftsmanship and cultural heritage.

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

Cameroon, located in Central Africa, is experiencing a significant growth in its furniture market. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this development.

Customer preferences: in cameroon's furniture market have shifted towards more modern and stylish designs. Consumers are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes. This change in preference is driven by the growing middle class in the country, who have higher disposable incomes and a desire to upgrade their living spaces.

Trends in the market: reflect this shift towards modern designs. Furniture retailers in Cameroon are now offering a wider range of contemporary furniture options to cater to the changing tastes of consumers. This includes sleek and minimalist designs, as well as furniture pieces that incorporate sustainable materials and eco-friendly manufacturing processes. Additionally, there is a growing demand for multifunctional furniture that maximizes space utilization in smaller homes and apartments.

Local special circumstances: also play a role in the development of cameroon's furniture market. The country has a rich cultural heritage, and there is a growing interest in incorporating traditional African elements into modern furniture designs. This fusion of traditional and contemporary styles has created a unique market niche, attracting both local and international consumers who appreciate the cultural significance of these pieces.

Underlying macroeconomic factors: further contribute to the growth of the furniture market in Cameroon. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable incomes. This has led to a rise in consumer spending, including purchases of furniture. Additionally, urbanization and population growth have created a higher demand for housing, driving the need for furniture in both residential and commercial spaces. In conclusion, the furniture market in Cameroon is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly seeking modern and stylish furniture designs, which has prompted retailers to offer a wider range of contemporary options. The fusion of traditional and contemporary styles is also attracting customers who appreciate the cultural significance of these pieces. Furthermore, cameroon's steady economic growth and urbanization have increased disposable incomes and the demand for furniture. As a result, the furniture market in Cameroon is poised for continued growth in the coming years.

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.