Furniture - Ethiopia

Ethiopia

In Ethiopia, the revenue in the Furniture market totals US$579.50m in 2024.
Looking ahead, the market is projected to grow annually at a rate of 1.94% (CAGR 2024-2029).
Among the various segments in the market, the largest one is the Living Room Furniture segment, which has a market volume of US$185.10m in 2024.
When compared globally, in the United States generates the highest revenue with US$264bn in 2024.
In terms of per capita figures, the revenue generated per person in Ethiopia amounts to US$4.47 in 2024.
Ethiopia's furniture market is experiencing a surge in demand for traditional, handcrafted pieces due to a growing appreciation for 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 Ethiopia is experiencing significant growth and development, driven by various factors including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Furniture market in Ethiopia are evolving, with consumers increasingly seeking stylish and modern furniture pieces that are both functional and aesthetically pleasing. There is a growing demand for furniture that reflects contemporary design trends, as well as a preference for furniture that is durable and long-lasting. Additionally, customers are increasingly looking for furniture that is eco-friendly and sustainable, as environmental consciousness becomes more prevalent. Trends in the Furniture market in Ethiopia are also contributing to its development. One notable trend is the rise of online furniture shopping, as more consumers are turning to the internet to browse and purchase furniture. This trend is driven by the convenience and accessibility of online shopping, as well as the wider range of options available online. Another trend is the increasing popularity of customized furniture, as customers seek unique and personalized pieces that reflect their individual style and preferences. This trend is fueled by advancements in technology, which allow for greater customization options and faster production times.

Local special circumstances: in Ethiopia are playing a role in the development of the Furniture market. One such circumstance is the growing urbanization in the country, which is leading to an increase in demand for furniture as more people move into cities and establish new homes. Additionally, the rise of the middle class in Ethiopia is contributing to the growth of the furniture market, as more people have the disposable income to invest in quality furniture.

Underlying macroeconomic factors: are also influencing the development of the Furniture market in Ethiopia. The country's strong economic growth and increasing gdp per capita are driving consumer spending and creating a favorable environment for the furniture market to thrive. Furthermore, government initiatives to promote the manufacturing sector and attract foreign investment are boosting the production and availability of furniture in the country. In conclusion, the Furniture market in Ethiopia is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As consumers seek stylish and modern furniture, online shopping and customization options are becoming more popular. The growing urbanization and rising middle class in Ethiopia are also contributing to the demand for furniture. Additionally, the country's strong economic growth and government initiatives are creating a favorable environment for the furniture market to flourish.

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.