Living Room Furniture - Gabon | Statista Market Forecast

In Gabon, the revenue in the Living Room Furniture market is estimated to reach US$16.88m in 2024.
It is projected to experience an annual growth rate of 4.22% (CAGR 2024-2029).
Comparing globally, United States generates the highest revenue in this segment, with US$73bn in 2024.
Looking at the per person basis, in Gabon, the revenue generated per person in the Living Room Furniture market is US$6.79 in 2024.
Gabonese consumers in the living room furniture market are increasingly gravitating towards eco-friendly and sustainable products.

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 Gabon is developing steadily, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in Gabon are shifting towards modern and contemporary living room furniture designs. Consumers are increasingly looking for furniture that is sleek, minimalist, and functional, with clean lines and neutral colors. This preference for modern designs is influenced by global trends and the desire for a more sophisticated and stylish living space. Additionally, customers in Gabon are also seeking furniture that is durable and of high quality, as they value long-lasting and sustainable products. One of the key trends in the Living Room Furniture market in Gabon is the growing demand for multifunctional furniture. As living spaces in Gabon are often limited in size, consumers are looking for furniture that can serve multiple purposes. For example, sofas with built-in storage, coffee tables that can be extended into dining tables, and wall units with integrated desks are becoming increasingly popular. This trend is driven by the need to optimize space and make the most out of smaller living areas. Another trend in the market is the increasing popularity of eco-friendly and sustainable living room furniture. Consumers in Gabon are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials such as reclaimed wood, bamboo, and recycled materials. This trend is in line with global efforts towards sustainability and reflects the growing awareness of environmental issues in Gabon.

Local special circumstances: also play a role in the development of the Living Room Furniture market in Gabon. The country has a growing middle class with increasing disposable income, which has led to a rise in consumer spending on home furnishings. Additionally, urbanization and population growth have contributed to the demand for living room furniture, as more people are moving to cities and setting up new households. Underlying macroeconomic factors such as economic growth and stability also influence the development of the Living Room Furniture market in Gabon. A stable economy and rising gdp per capita contribute to increased consumer purchasing power and the willingness to invest in home furnishings. Furthermore, government initiatives to promote the housing sector and urban development have also played a role in driving the demand for living room furniture. In conclusion, the Living Room Furniture market in Gabon is evolving to meet changing customer preferences, with a focus on modern designs, multifunctionality, and sustainability. Local special circumstances such as a growing middle class and urbanization, along with

Underlying macroeconomic factors: contribute to the development of the market. As the market continues to grow, manufacturers and retailers in Gabon will need to adapt to these trends and preferences to meet the needs of the consumers.

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.