Kitchen & Dining Furniture - Armenia

In Armenia, the revenue generated in the Kitchen & Dining Furniture market is projected to reach US$468.40k in 2024.
It is anticipated that the market will experience an annual growth rate of -16.79% (CAGR 2024-2029).
When compared globally, United States leads the way with a revenue of US$39bn in 2024.
In terms of per capita figures, each person in Armenia is expected to generate revenues of US$0.17 in 2024.
Armenian consumers are increasingly embracing minimalist designs and compact kitchen & dining furniture to optimize their limited living spaces.

Definition:

The Kitchen & Dining Furniture segment covers diferent movable objects designed for kitchen and dining rooms. These objects mainly meet people’s needs for eating, preparing food, or food storage and includes dining tables, baker’s racks, kitchen islands/carts, pantry storage, and various types of kitchenware. Items not considered include household appliances such as refrigerators, stoves, small kitchen appliances, and sinks and faucets.

Structure:

The Kitchen & Dining Furniture segment is divided into two subsegments:

The Dining Tables, Kitchen Islands & Pantries subsegment includes furniture pieces designed to enhance the functionality and aesthetics of kitchen and dining spaces. These products range from traditional dining tables to kitchen islands and pantry storage units, providing both practical and decorative value to the kitchen and/or dining spaces.
The Kitchenware subsegment refers to items which aid in the preparation and the serving of food. Products in this subsegment include cookware such as pots and pans, tableware such as cutlery and glassware, and other items that are essential for the preparation and serving of food.

Additional Information:

The Kitchen & Dining 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.

Dining tables
Kitchen islands and carts
Food pantries
Kitchenware

Household appliances
Cookware, kitchen, and cleaning utensils
Kitchen remodels

The Kitchen & Dining Furniture market in Armenia has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Armenian customers have shown a growing preference for modern and stylish kitchen and dining furniture. They are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes. This shift in preferences can be attributed to the influence of global design trends and the rising disposable income of the population. As a result, there is a growing demand for sleek, minimalist designs with clean lines and high-quality materials.

Trends in the market: One of the key trends in the Kitchen & Dining Furniture market in Armenia is the increasing popularity of open-plan living spaces. Many homeowners are opting for open kitchens that seamlessly blend into the dining and living areas. This trend has led to a higher demand for multifunctional furniture pieces that can serve different purposes and fit well in smaller spaces. Additionally, eco-friendly and sustainable furniture options are gaining traction in the market, as consumers become more conscious of the environmental impact of their purchasing decisions.

Local special circumstances: Armenia has a rich cultural heritage, and this is reflected in the demand for traditional and handcrafted kitchen and dining furniture. Many customers in Armenia appreciate the craftsmanship and unique designs of locally made furniture. This creates opportunities for local artisans and small businesses to cater to this niche market segment. Furthermore, the country's strong agricultural sector and the emphasis on organic food have also influenced the demand for furniture made from natural materials such as wood and bamboo.

Underlying macroeconomic factors: The growth of the Kitchen & Dining Furniture market in Armenia can also be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more households to invest in higher-quality and more expensive furniture. Additionally, the government's efforts to promote tourism and attract foreign investment have contributed to the growth of the real estate market, which in turn has stimulated demand for kitchen and dining furniture. In conclusion, the Kitchen & Dining Furniture market in Armenia is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for modern, stylish, and multifunctional furniture is on the rise, driven by the influence of global design trends and increasing disposable income. At the same time, the appreciation for traditional and handcrafted furniture reflects the country's cultural heritage. Overall, the market is expected to continue growing as Armenia's economy expands and consumer preferences continue to evolve.

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.