Furniture - Lebanon

Lebanon

Lebanon's Furniture market is projected to generate a revenue of US$807.20m in 2024.
It is anticipated to experience an annual growth rate of 0.75% (CAGR 2024-2029).
The largest segment within this market is Living Room Furniture, accounting for a market volume of US$310.20m in 2024.
When compared globally, in the United States leads in terms of revenue generation, with an estimated amount of US$264bn in 2024.
In terms of per capita revenue, in Lebanon generates approximately US$154.70 per person in 2024.
The furniture market in Lebanon is witnessing a surge in demand for modern, space-saving designs due to the country's limited living spaces.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

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

Market

Region

Region comparison

Currency

Analyst Opinion

The furniture market in Lebanon has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the furniture market in Lebanon have shifted towards more modern and contemporary designs. Customers are increasingly looking for furniture pieces that are not only functional but also aesthetically pleasing and in line with current interior design trends. This shift in preferences has led to an increase in demand for sleek and minimalist furniture designs. Additionally, customers are also placing a greater emphasis on sustainability and eco-friendly materials, driving the demand for furniture made from environmentally friendly materials such as bamboo or recycled wood. One of the key trends in the furniture market in Lebanon is the growing popularity of online shopping. With the rise of e-commerce platforms and increased internet penetration, customers are now able to browse and purchase furniture online, offering them convenience and a wider range of options. This trend has also led to the emergence of online furniture retailers, offering competitive prices and unique designs that are not easily found in traditional brick-and-mortar stores. Another trend in the market is the increasing demand for multifunctional furniture. With limited living spaces in urban areas, customers are seeking furniture pieces that can serve multiple purposes, such as sofa beds or storage ottomans. This trend is driven by the need to maximize space and create versatile living environments. In addition to changing customer preferences and emerging trends, the furniture market in Lebanon is also influenced by

Local special circumstances:. Lebanon is known for its rich cultural heritage and craftsmanship, and customers often value locally made furniture that reflects the country's unique design aesthetics. This has created a demand for handmade furniture pieces that showcase traditional craftsmanship and incorporate local materials. Underlying macroeconomic factors also play a role in the development of the furniture market in Lebanon. Economic stability and increased disposable income have contributed to higher consumer spending on furniture. Additionally, the growing real estate sector and construction industry have created a demand for furniture as new homes and commercial spaces are being furnished. In conclusion, the furniture market in Lebanon is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern designs, the rise of online shopping, and the demand for multifunctional furniture are driving the market forward. Additionally, the appreciation for locally made furniture and the overall economic stability of the country are also contributing to the growth of the market.

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.