Home Office Furniture - New Zealand

New Zealand

In New Zealand, the Home Office Furniture market generates a revenue of US$142.40m in 2024.
It is projected to experience an annual growth rate of 1.68% (CAGR 2024-2029).
When compared globally, in the United States leads with a revenue of US$18,920m in 2024.
In terms of per capita, each individual in New Zealand generates a revenue of US$27.02 in 2024.
The demand for ergonomic home office furniture in New Zealand has surged due to the increasing number of people working remotely.

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

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Analyst Opinion

The Home Office Furniture market in New Zealand is experiencing significant growth and development. Customer preferences are shifting towards more functional and ergonomic furniture options, while trends in the market are being driven by factors such as remote work and the rise of small businesses. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of the market.

Customer preferences: in the Home Office Furniture market in New Zealand are evolving to prioritize functionality and ergonomics. With an increasing number of individuals working from home, there is a growing demand for furniture that can support long hours of work while maintaining comfort. Customers are seeking adjustable desks and chairs that can accommodate their specific needs and preferences. Additionally, there is a preference for furniture that is aesthetically pleasing and can blend seamlessly with the overall home decor.

Trends in the market: are being shaped by the rise of remote work and the growth of small businesses. The covid-19 pandemic has accelerated the adoption of remote work practices, leading to a surge in the demand for home office furniture. Many companies have transitioned to a hybrid work model, allowing employees to work from home for a certain number of days per week. This trend is expected to continue even after the pandemic, driving the need for dedicated home office spaces and furniture. The increasing number of small businesses in New Zealand is also contributing to the growth of the Home Office Furniture market. As more individuals pursue entrepreneurship or freelancing, there is a need for affordable yet functional furniture options for home offices. Small business owners are looking for cost-effective solutions that can maximize their workspace and enhance productivity.

Local special circumstances: in New Zealand are further fueling the growth of the Home Office Furniture market. The country has a high rate of homeownership, with a significant proportion of the population owning their homes. This provides individuals with the flexibility to create dedicated home office spaces and invest in furniture that meets their specific needs. Additionally, New Zealand has a strong design culture, with a focus on sustainability and craftsmanship. This has led to the emergence of local furniture designers and manufacturers who cater to the growing demand for home office furniture.

Underlying macroeconomic factors: are also contributing to the development of the Home Office Furniture market in New Zealand. The country has a stable economy and a high standard of living, which allows individuals to invest in quality furniture for their home offices. Additionally, the government has implemented supportive policies and initiatives to promote remote work and entrepreneurship, further driving the demand for home office furniture. In conclusion, the Home Office Furniture market in New Zealand is experiencing growth and development due to shifting customer preferences, trends in remote work and small businesses, local special circumstances, and underlying macroeconomic factors. As the demand for functional and ergonomic furniture continues to rise, the market is expected to expand further in the coming years.

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.