Kitchen & Dining Furniture - Madagascar

In 2024, the revenue generated in the Kitchen & Dining Furniture market in Madagascar amounts to US$4.05m.
This market segment is expected to grow annually by -1.92% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with US$39bn in 2024.
Considering the total population figures, the per person revenue in Madagascar for 2024 is US$0.13.
Madagascar's kitchen & dining furniture market is witnessing a surge in demand for sustainable and locally made pieces, reflecting the country's commitment to preserving its rich natural resources.

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 Madagascar has been experiencing steady growth in recent years.

Customer preferences: Madagascar has a rich cultural heritage, and this is reflected in the preferences of its customers when it comes to kitchen and dining furniture. Traditional designs and natural materials are highly valued by consumers in Madagascar. Wood is a popular choice for furniture, as it is durable and can be crafted into intricate designs that showcase the country's unique artistic traditions. Customers also appreciate furniture that is functional and space-saving, as many homes in Madagascar have limited space.

Trends in the market: One of the key trends in the Kitchen & Dining Furniture market in Madagascar is the increasing demand for eco-friendly and sustainable products. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are seeking out furniture made from recycled or renewable materials. This trend is driven by a growing awareness of the importance of preserving Madagascar's natural resources and biodiversity. Another trend in the market is the rising popularity of modern and minimalist designs. As the younger generation becomes more financially independent, they are opting for sleek and contemporary furniture styles that align with their urban lifestyles. This trend is also influenced by global design influences and the desire to keep up with international trends.

Local special circumstances: Madagascar is a developing country with a growing middle class. As the economy improves and disposable incomes rise, more people are investing in their homes and upgrading their furniture. The government has also implemented policies to promote the growth of the furniture industry, such as providing incentives for local manufacturers and supporting export opportunities. These factors contribute to the positive growth of the Kitchen & Dining Furniture market in Madagascar.

Underlying macroeconomic factors: The overall economic stability and growth in Madagascar play a significant role in the development of the Kitchen & Dining Furniture market. As the economy improves, consumers have more purchasing power and are willing to invest in higher-quality furniture. Additionally, the growth of the tourism industry in Madagascar has also contributed to the demand for quality furniture, as hotels and resorts seek to provide comfortable and attractive dining spaces for their guests. In conclusion, the Kitchen & Dining Furniture market in Madagascar is experiencing growth due to customer preferences for traditional and eco-friendly designs, as well as the increasing purchasing power of the middle class. The market is also influenced by global design trends and the government's support for the furniture industry. As the economy continues to improve and consumer awareness of sustainability grows, the market is expected to further 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.