Living Room Furniture - Bhutan | Statista Market Forecast

In Bhutan, the revenue in the Living Room Furniture market reaches US$4.29m in 2024.
It is projected to experience an annual growth rate of 2.81% (CAGR 2024-2029).
Comparing globally, United States generates the highest revenue in this segment, with an impressive US$73bn in 2024.
When considering the population, the per person revenue in Bhutan amounts to US$5.42 in 2024.
"Bhutanese consumers are increasingly opting for traditional and eco-friendly living room furniture, reflecting the country's commitment to sustainable practices and cultural preservation."

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 Bhutan is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in Bhutan have shifted towards more modern and stylish living room furniture. Customers are looking for furniture that combines functionality with aesthetics, and they are willing to invest in high-quality pieces that can enhance the overall look and feel of their living spaces. This shift in preferences is driven by increasing urbanization and exposure to global design trends. Trends in the market include the rising popularity of modular furniture. Modular furniture offers flexibility and allows customers to customize their living spaces according to their specific needs and preferences. This trend is particularly appealing to customers in Bhutan, where living spaces are often small and compact. Additionally, there is a growing demand for eco-friendly and sustainable furniture options. Customers are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials and production processes.

Local special circumstances: in Bhutan also contribute to the development of the Living Room Furniture market. Bhutan is known for its unique cultural heritage and traditional craftsmanship. Local artisans create handcrafted furniture using traditional techniques and materials, which appeals to customers looking for unique and authentic pieces. The government of Bhutan also promotes the use of locally made products, further boosting the demand for locally produced furniture. Underlying macroeconomic factors also play a role in the growth of the Living Room Furniture market in Bhutan. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. As a result, customers have more purchasing power and are willing to invest in higher-end furniture. Additionally, the construction sector in Bhutan is booming, with new residential and commercial projects being developed. This creates a demand for furniture to furnish these spaces, further driving the growth of the market. In conclusion, the Living Room Furniture market in Bhutan is growing due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. Customers are seeking modern and stylish furniture, with a preference for modular and eco-friendly options. The unique cultural heritage and traditional craftsmanship in Bhutan also contribute to the market's development. The country's steady economic growth and booming construction sector further drive the demand for living room furniture.

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.