Furniture - Central Asia

Central Asia

In Central Asia, the Furniture market generates a revenue of US$1,481.00m in 2024.
This market is projected to experience an annual growth rate of 1.70%, calculated as the compound annual growth rate (CAGR) from 2024 to 2029.
The largest segment within the Furniture market is the Living Room Furniture segment, which has a market volume of US$495.00m in 2024.
In comparison to other countries worldwide, in the United States generates the highest revenue in the Furniture market, amounting to US$263bn in 2024.
When considering the population, the per person revenue in Central Asia's Furniture market is US$18.69 in 2024.
The furniture market in Central Asia is experiencing a surge in demand for traditional, handcrafted pieces that showcase the region's rich 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

The Furniture market in Central Asia has been experiencing significant growth in recent years. Customer preferences for high-quality, durable furniture have been driving this trend. Additionally, the region's local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: in Central Asia have shifted towards furniture that is both aesthetically pleasing and long-lasting. Consumers are willing to invest in high-quality furniture that will withstand the test of time. This preference for durability has led to an increased demand for furniture made from solid wood and other durable materials. Additionally, customers in Central Asia are increasingly looking for furniture that is both functional and stylish, with a focus on modern designs and innovative features. Trends in the furniture market in Central Asia reflect global and regional developments. One major trend is the rise of e-commerce in the furniture industry. Online platforms have made it easier for customers to browse and purchase furniture from the comfort of their own homes. This trend has been particularly pronounced in urban areas, where consumers have access to reliable internet connections. As a result, furniture retailers in Central Asia have been investing in their online presence to cater to this growing demand. Another trend in the furniture market is the increasing popularity of eco-friendly and sustainable furniture. Customers in Central Asia are becoming more conscious of the environmental impact of their purchases and are seeking out furniture made from sustainable materials. This trend aligns with global efforts to reduce carbon footprints and promote sustainable practices. Furniture retailers in Central Asia have responded to this trend by offering a wider range of eco-friendly options, such as furniture made from recycled materials or certified sustainable wood.

Local special circumstances: in Central Asia, such as the region's rich cultural heritage and traditional craftsmanship, have also played a role in the development of the furniture market. Central Asian countries have a long history of producing high-quality handmade furniture, which has gained recognition both domestically and internationally. This has created a niche market for traditional and artisanal furniture, with customers valuing the unique craftsmanship and cultural significance of these pieces.

Underlying macroeconomic factors: have also contributed to the growth of the furniture market in Central Asia. The region has experienced steady economic growth in recent years, leading to an increase in disposable incomes and consumer spending. As a result, consumers in Central Asia have more purchasing power and are able to invest in higher-quality furniture. Additionally, urbanization and population growth have created a demand for furniture in newly developed residential and commercial areas. In conclusion, the Furniture market in Central Asia is developing due to customer preferences for high-quality, durable furniture, as well as trends in e-commerce and sustainable furniture. The region's local special circumstances, including its rich cultural heritage and traditional craftsmanship, have also contributed to the growth of the market. Underlying macroeconomic factors, such as economic growth and urbanization, have further fueled the demand for furniture in Central Asia.

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.