Living Room Furniture - EAEU | Statista Market Forecast

In 2024, the Living Room Furniture market in the EAEU is projected to generate revenue of US$6.64bn.
This market is anticipated to grow at an annual rate of 1.35% (CAGR 2024-2029).
It is worth noting that United States leads the global market in terms of revenue, with US$73bn in 2024.
When considering the population, the per capita revenue in the EAEU is estimated to be US$36.34 in 2024.
The demand for luxury living room furniture in the EAEU is on the rise as consumers in the region prioritize comfort and style in their homes.

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 eaeu is experiencing significant growth and development. Customer preferences in the Living Room Furniture market in eaeu are driven by a desire for stylish and functional furniture. Consumers in this region value furniture that not only complements their living spaces but also offers practical features such as storage solutions and multi-functionality. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as consumers become more conscious of their environmental impact. Trends in the market indicate a shift towards modern and contemporary designs. Consumers in eaeu are increasingly opting for sleek and minimalist furniture styles, with clean lines and neutral colors. This trend is influenced by global design trends and the desire to create a modern and sophisticated living space. Additionally, there is a growing preference for modular furniture that can be easily customized and rearranged to suit individual needs and preferences. Local special circumstances in the Living Room Furniture market in eaeu include the presence of a large middle class population with increasing disposable income. As the standard of living improves in the region, consumers are willing to invest in high-quality furniture that enhances their living spaces. Additionally, the rapid urbanization and growth of cities in eaeu have led to smaller living spaces, which has fueled the demand for compact and space-saving furniture solutions. Underlying macroeconomic factors driving the development of the Living Room Furniture market in eaeu include economic growth, increasing urbanization, and changing lifestyles. The region has experienced steady economic growth in recent years, which has led to an increase in disposable income and purchasing power. This, in turn, has fueled consumer spending on furniture and home decor. The rapid urbanization in eaeu has also contributed to the growth of the market, as more people move to cities and seek to furnish their new homes. Additionally, changing lifestyles, such as the rise of remote working and the need for versatile living spaces, have also influenced the demand for living room furniture in eaeu. Overall, the Living Room Furniture market in eaeu is thriving due to

Customer preferences: for stylish and functional furniture, the trend towards modern designs,

Local special circumstances: such as the presence of a growing middle class and smaller living spaces, and

Underlying macroeconomic factors: such as economic growth and changing lifestyles.

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.