Home Office Furniture - Iraq | Statista Market Forecast

In Iraq, the revenue generated in the Home Office Furniture market in 2024 amounts to US$94.37m.
It is projected that the market will experience an annual growth rate of 0.12% from 2024 to 2029 (CAGR 2024-2029).
In comparison to other countries around Worldwide, United States generates the highest revenue in this segment, with US$19bn in 2024.
When considering the population figures, the per person revenue generated in Iraq in 2024 is US$2.03.
This provides insight into the level of economic activity within the Home Office Furniture market in the country.
The demand for ergonomic home office furniture in Iraq has seen a significant rise due to the growing number of professionals working remotely.

Definition:

The Home Office Furniture segment focuses on furniture found in the home that provide a comfortable and motivating work space. The purpose of home office furniture is to ensure a good working environment similar to that of a traditional office as working from home has become more popular in recent years. This segment includes objects such as swivel seats and office tables; however, furniture such as dining tables and chairs are not included. Consumer electronics and lamps & lighting are also excluded from this segment.

Structure:

The segment is divided into two subsegments:

The Desk & Chairs subsegment covers home office furniture designed to provide comfort, functionality, and ergonomic support to enhance productivity and improve the overall working experience.
The Bookcases & Filing Cabinets subsegment covers furniture pieces designed for storage and organization of books, files, documents, and other materials. These products are available in various sizes, styles, and materials to suit different needs and preferences.

Additional Information:

The Home Office Furniture segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment 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.

Office chairs and swivel seats
Office desks and tables
Filing Cabinets and drawers
Bookcases
Office stools

Consumer electronics
Household appliances
Lamps and lighting
Dining and bar tables

The Home Office Furniture market in Iraq is experiencing significant growth and development due to several factors.

Customer preferences: In recent years, there has been a growing trend towards remote work and flexible working arrangements in Iraq. This has led to an increased demand for home office furniture as more individuals are setting up dedicated workspaces in their homes. Customers are looking for furniture that is not only functional but also aesthetically pleasing and comfortable. Ergonomic designs and adjustable features are particularly popular among customers who spend long hours working from home. Additionally, customers are also seeking furniture that is durable and made from high-quality materials to ensure longevity.

Trends in the market: One of the key trends in the Home Office Furniture market in Iraq is the rise of online retail. With the increasing availability of internet access and the convenience of online shopping, more customers are opting to purchase furniture online. This trend has been further accelerated by the COVID-19 pandemic, which has limited physical store visits and encouraged consumers to shop from the comfort of their homes. Online retailers are capitalizing on this trend by offering a wide range of home office furniture options, competitive pricing, and convenient delivery services. Another trend in the market is the growing demand for space-saving furniture solutions. As homes in Iraq tend to be relatively smaller compared to other countries, customers are looking for furniture that can maximize the use of limited space. Compact desks, storage solutions, and multifunctional furniture pieces are gaining popularity among customers who want to create functional workspaces without sacrificing too much space in their homes.

Local special circumstances: Iraq is a country with a young and growing population, and this demographic trend is also contributing to the development of the Home Office Furniture market. Young professionals and students are increasingly entering the workforce and pursuing higher education, which has led to a higher demand for home office furniture. As the population continues to grow, the market is expected to expand further.

Underlying macroeconomic factors: The stability and growth of the Iraqi economy are crucial factors driving the development of the Home Office Furniture market. As the economy improves, individuals have more disposable income to spend on furniture and other home-related products. Furthermore, the government's efforts to diversify the economy and promote entrepreneurship are also creating more opportunities for remote work and home-based businesses, thereby driving the demand for home office furniture. In conclusion, the Home Office Furniture market in Iraq is experiencing growth and development due to customer preferences for functional and aesthetically pleasing furniture, the rise of online retail, the demand for space-saving solutions, the young and growing population, and the improving macroeconomic conditions. As these trends continue to shape the market, it is expected that the Home Office Furniture market in Iraq will continue to expand 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.