Kitchen & Dining Furniture - Iraq

Iraq

In Iraq, the revenue generated in the Kitchen & Dining Furniture market is estimated to reach US$154.30m in 2024.
It is projected that the market will experience an annual growth rate of 2.63% (CAGR 2024-2029).
When compared to other countries around Worldwide, in the United States leads in terms of revenue generation, with an estimated amount of US$38,810m in 2024.
Taking population figures into consideration, the per person revenue in Iraq for 2024 is US$3.32.
Despite the challenges faced by the country, Iraq's demand for high-quality kitchen and dining furniture remains resilient as households prioritize creating comfortable and functional living spaces.

Key regions: Canada, United Kingdom, Brazil, Germany, India

Market

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Analyst Opinion

The Kitchen & Dining Furniture market in Iraq has been experiencing steady growth in recent years. Customer preferences in Iraq have been shifting towards more modern and stylish kitchen and dining furniture. Consumers are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes. This trend is in line with global preferences, as customers worldwide are seeking furniture that reflects their personal style and enhances the overall look of their living spaces. One of the key trends in the market is the growing demand for modular kitchen furniture. Modular kitchen designs offer flexibility and convenience, allowing customers to customize their kitchens according to their specific needs and available space. This trend is driven by the increasing number of urban dwellers in Iraq who are living in smaller apartments and require space-saving solutions. Moreover, modular kitchen furniture is often made from durable materials, which appeals to customers who value longevity and quality. Another trend in the market is the rising popularity of open-plan kitchen and dining areas. This design concept, which originated in Western countries, has gained traction in Iraq as well. open-plan layouts create a sense of spaciousness and facilitate social interaction, making them particularly appealing to families and individuals who enjoy hosting gatherings. As a result, there is a growing demand for kitchen and dining furniture that seamlessly integrates with the overall interior design of the living space. Local special circumstances in Iraq also contribute to the development of the Kitchen & Dining Furniture market. The country has a young and growing population, with a significant portion of the population entering the workforce and achieving higher disposable incomes. This demographic shift has led to an increase in consumer spending on home furnishings, including kitchen and dining furniture. Additionally, the government's efforts to promote economic diversification and attract foreign investment have created a more favorable business environment, stimulating market growth. Underlying macroeconomic factors further support the development of the Kitchen & Dining Furniture market in Iraq. The country's economy has been gradually recovering from the impact of previous conflicts, leading to increased consumer confidence and spending. Furthermore, the construction industry is experiencing growth, with new residential and commercial projects being undertaken across the country. This creates opportunities for kitchen and dining furniture suppliers to cater to the demand for new furnishings. In conclusion, the Kitchen & Dining Furniture market in Iraq is developing due to shifting

Customer preferences: towards modern and stylish furniture, the growing demand for modular and open-plan kitchen designs,

Local special circumstances: such as a young and affluent population, and

Underlying macroeconomic factors: such as economic recovery and construction growth.

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.