Living Room Furniture - CIS | Statista Market Forecast

In 2024, the Living Room Furniture market in the CIS region generated a revenue of US$6.95bn.
This market is projected to experience an annual growth rate of 1.34% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads in terms of revenue generation, with a staggering US$73bn in 2024.
In the CIS region, the revenue per person in the Living Room Furniture market amounted to US$28.65 in 2024.
The demand for high-quality, traditional wooden living room furniture is surging in CIS countries, reflecting a strong cultural appreciation for craftsmanship and timeless design.

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 CIS is experiencing significant growth and development. Customer preferences are shifting towards modern and contemporary designs, with a focus on functionality and space-saving solutions. Additionally, there is a growing demand for eco-friendly and sustainable furniture options.

Customer preferences: In the Living Room Furniture market in CIS, customers are increasingly gravitating towards modern and contemporary designs. This trend can be attributed to the growing influence of Western culture and the desire for a more minimalist and streamlined aesthetic. Customers are also seeking furniture that is functional and space-saving, as living spaces in CIS countries are often smaller compared to other regions. Another important customer preference in the market is the demand for eco-friendly and sustainable furniture options. As awareness of environmental issues grows, customers in CIS are becoming more conscious of the materials used in furniture production and are seeking products that are made from sustainable sources and have minimal impact on the environment.

Trends in the market: One of the key trends in the Living Room Furniture market in CIS is the increasing popularity of multifunctional furniture. With limited living space, customers are looking for furniture that can serve multiple purposes, such as sofa beds or coffee tables with hidden storage compartments. This trend reflects the need for practical solutions that maximize space utilization. Another trend in the market is the rising demand for customized furniture. Customers in CIS are increasingly seeking unique and personalized pieces that reflect their individual style and preferences. This trend is driven by the desire for exclusivity and the growing availability of online platforms that offer customizable furniture options.

Local special circumstances: The Living Room Furniture market in CIS is influenced by local special circumstances, such as cultural preferences and economic factors. In CIS countries, there is a strong preference for furniture that is durable and long-lasting. This is due to the perception that furniture is a long-term investment and should withstand the test of time. Additionally, customers in CIS have a preference for furniture that is easy to clean and maintain, as cleanliness is highly valued in the region.

Underlying macroeconomic factors: The development of the Living Room Furniture market in CIS is also influenced by underlying macroeconomic factors. Economic growth in the region has led to an increase in disposable income, allowing more customers to afford higher quality furniture. Additionally, urbanization and the growth of the middle class have contributed to the expansion of the market, as more people move into urban areas and seek to furnish their homes. In conclusion, the Living Room Furniture market in CIS is experiencing growth and development driven by customer preferences for modern and functional designs, as well as the demand for eco-friendly and sustainable options. Trends in the market include the popularity of multifunctional furniture and the desire for customized pieces. Local special circumstances, such as cultural preferences for durable and easy-to-maintain furniture, also shape the market. The underlying macroeconomic factors of economic growth, urbanization, and the rise of the middle class further contribute to the expansion of the Living Room Furniture market in CIS.

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.