Living Room Furniture - Australia & Oceania

In Australia & Oceania, the Living Room Furniture market generates a revenue of US$3.50bn in 2024.
It is projected to experience an annual growth rate of 4.90% (CAGR 2024-2029).
When compared on a global scale, United States generates the highest revenue in this segment, amounting to US$73bn in 2024.
In terms of per capita figures, each person in Australia & Oceania generates a revenue of US$80.53 in 2024.
The demand for sustainable and eco-friendly living room furniture is rapidly increasing in Australia, driven by the country's strong focus on environmental conservation.

Definition:

This Living Room Furniture segment refers to movable objects that are designed to be used in a living room, which is typically a central and multi-functional space in a home. It includes items that are intended to make the room more comfortable and functional, such as seating, tables, and storage unts (e.g., TV stands, console tables, etc.)

Structure:

The Living Room Furniture segment is divided into two subsegments:

The Seats & Sofas subsegment refers to furniture designed for sitting, lounging, or reclining, and typically includes items such as sofas, armchairs, recliners, and ottomans.
The Cabinets, TV Stands, & Side Tables subsegment refers to furniture items that are designed to store or hold various objects such as media equipment, drinks, books, or lamps.

Additional Information:

The Living Room 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.

Sofas and armchairs, dining chairs
Bar tables and chairs, stools, and benches
Coffee, console, and side tables
TV and media furniture

Consumer electronics
Household appliances
Lamps and lighting
Floor covering

The Living Room Furniture market in Australia & Oceania is experiencing significant growth and development. Customer preferences in the region are shifting towards more modern and minimalist designs, with a focus on functionality and space-saving solutions. Consumers are increasingly looking for furniture pieces that can serve multiple purposes and fit well in small living spaces. This trend is driven by the growing urbanization in the region, as more people are living in apartments and smaller houses. Additionally, there is a growing awareness of the environmental impact of furniture production, leading to a demand for sustainable and eco-friendly materials. Trends in the market include the rise of online shopping and the increasing popularity of home renovation and interior design shows. Online shopping allows consumers to easily compare prices and options, and provides a convenient way to purchase furniture without the need to visit physical stores. Home renovation and interior design shows have also contributed to the growth of the Living Room Furniture market by inspiring consumers to update their living spaces and invest in new furniture pieces. Local special circumstances in Australia & Oceania include the unique cultural diversity in the region. With a mix of indigenous cultures, as well as influences from Asia and Europe, there is a wide range of design styles and preferences. This diversity creates opportunities for furniture manufacturers and retailers to cater to different tastes and preferences. Underlying macroeconomic factors that contribute to the development of the Living Room Furniture market in Australia & Oceania include the steady economic growth in the region and the increasing disposable income of consumers. As the economy grows, consumers have more purchasing power and are willing to invest in higher quality furniture for their living spaces. Additionally, the region's strong tourism industry has also contributed to the growth of the market, as tourists often purchase furniture as souvenirs or for their holiday homes. In conclusion, the Living Room Furniture market in Australia & Oceania is experiencing growth and development due to changing

Customer preferences:

Trends in the market:

Local special circumstances: and

Underlying macroeconomic factors:. The shift towards modern and minimalist designs, the rise of online shopping, and the influence of home renovation and interior design shows are driving the growth of the market. The unique cultural diversity in the region and the steady economic growth and increasing disposable income of consumers are also contributing factors.

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.