Furniture - Gabon | Statista Market Forecast

Furniture - Gabon

Gabon

Highlights

In Gabon, the revenue in the Furniture market reached a substantial amount of US$55.80m in 2024.
It is projected that the market will experience an annual growth rate of 2.86% (CAGR 2024-2029).
Among the various segments in the market, the largest one is the Home Décor segment, which had a market volume of US$18.64m in 2024.
When compared globally, United States stands out as the country generating the highest revenue in the Furniture market, amounting to US$264bn in 2024.
Taking into consideration the population figures, an average per person revenue of US$22.46 is generated in Gabon in 2024 in the Furniture market.
Gabon's furniture market is experiencing a surge in demand for eco-friendly and sustainable products.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Furniture market in Gabon has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Gabonese customers have shown a growing preference for modern and stylish furniture designs. They are increasingly looking for furniture that not only serves a functional purpose but also adds aesthetic value to their homes. Customers are also becoming more conscious of the quality and durability of furniture, seeking products that are built to last. Additionally, there is a rising demand for eco-friendly and sustainable furniture options, as customers become more aware of the environmental impact of their purchasing decisions.

Trends in the market: One of the key trends in the Gabonese furniture market is the growing popularity of online shopping. With the increasing availability of internet access and the convenience it offers, more customers are turning to online platforms to purchase furniture. This trend has opened up new opportunities for both local and international furniture retailers to reach a wider customer base. Another trend in the market is the rise of customized furniture. Customers are looking for unique and personalized furniture pieces that reflect their individual style and preferences. This trend has led to the emergence of local artisans and craftsmen who specialize in creating bespoke furniture.

Local special circumstances: Gabon is a country with a rapidly growing middle class, which has a significant impact on the furniture market. As more households move into the middle-income bracket, there is an increased demand for furniture to furnish their homes. Additionally, Gabon has a young population, with a large number of young adults entering the workforce. This demographic shift has led to a higher demand for furniture, as young professionals start to establish their own households.

Underlying macroeconomic factors: The Gabonese economy has been experiencing steady economic growth, which has contributed to the development of the furniture market. This growth has led to an increase in disposable income levels, allowing consumers to spend more on furniture. Furthermore, the government has been investing in infrastructure development, which has created employment opportunities and boosted consumer confidence. These factors have had a positive impact on the furniture market, driving its growth. In conclusion, the Furniture market in Gabon is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As customers seek modern and stylish furniture designs, online shopping and customized furniture have become popular trends in the market. The growing middle class and young population in Gabon have also contributed to the increasing demand for furniture. With a strong economy and government investment in infrastructure, the furniture market in Gabon is expected to continue its growth trajectory in the coming years.

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.