Home Office Furniture - Australia & Oceania

Australia & Oceania

In 2024, the revenue in the Home Office Furniture market in Australia & Oceania is recorded at US$1.07bn.
It is projected that the market will experience an annual growth rate of 4.91% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, amounting to US$18,920m in 2024.
In terms of per capita figures, the revenue generated per person in Australia & Oceania is US$24.56 in 2024.
The demand for ergonomic home office furniture in Australia is on the rise, with companies prioritizing employee well-being and productivity.

Key regions: Germany, Brazil, United Kingdom, Denmark, China

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Analyst Opinion

The Home Office Furniture market in Australia & Oceania has been experiencing significant growth in recent years. This can be attributed to several factors, including changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Home Office Furniture market have shifted towards more functional and ergonomic designs. With the increasing number of people working from home, there is a greater emphasis on creating comfortable and productive workspaces. Customers are now looking for furniture that offers adjustable features, such as height-adjustable desks and ergonomic chairs, to support their well-being and productivity.

Trends in the market: also play a crucial role in shaping its development. One notable trend is the rise of remote work and flexible working arrangements. This trend has been accelerated by advancements in technology and the ongoing covid-19 pandemic. As more companies adopt remote work policies, there is a growing demand for home office furniture that can accommodate the needs of remote workers. This includes furniture that can easily integrate technology, such as built-in charging ports and cable management solutions. Another trend in the market is the increasing focus on sustainability. Customers are becoming more conscious of the environmental impact of their purchases and are seeking eco-friendly options. This has led to a rise in the demand for home office furniture made from sustainable materials, such as bamboo or recycled wood. Additionally, customers are also looking for furniture that is durable and long-lasting, reducing the need for frequent replacements.

Local special circumstances: in Australia & Oceania also contribute to the development of the Home Office Furniture market. The region has a large population of remote workers, freelancers, and entrepreneurs who require dedicated workspaces in their homes. Additionally, the region is known for its love of outdoor living, which has led to the popularity of outdoor home office furniture, such as garden offices and outdoor workstations.

Underlying macroeconomic factors: also play a role in the growth of the Home Office Furniture market. Australia & Oceania has experienced steady economic growth in recent years, which has led to an increase in disposable income. This has allowed consumers to invest in home office furniture to create comfortable and efficient workspaces. Additionally, the region has a strong housing market, with many homeowners investing in renovations and home improvements, including the setup of home offices. In conclusion, the Home Office Furniture market in Australia & Oceania is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the demand for remote work and flexible working arrangements continues to rise, the market is expected to further expand in the coming years. Manufacturers and retailers in the region should focus on offering functional and ergonomic designs, sustainable options, and furniture that integrates technology to meet the evolving needs of customers.

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.