Living Room Furniture - GCC | Statista Market Forecast

In 2024, the revenue in the Living Room Furniture market in the GCC amounts to US$4.75bn.
This market is projected to experience an annual growth rate of 1.51% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue with US$73bn in 2024.
It is worth noting that in relation to the total population, per person revenues of US$78.60 are generated in 2024.
The demand for luxurious and modern living room furniture is on the rise in the GCC, driven by the region's affluent population and preference for opulent interior designs.

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

Customer preferences: for living room furniture in the gcc region are shifting towards modern and contemporary designs, as consumers seek to create stylish and functional living spaces. Additionally, there is a growing demand for multi-functional furniture that maximizes space utilization in smaller homes and apartments. Trends in the market include the increasing popularity of online shopping for furniture, as consumers in the gcc region embrace e-commerce platforms for convenience and a wider range of options. This trend is further fueled by the covid-19 pandemic, which has accelerated the adoption of online shopping across various industries. Another trend is the rising demand for sustainable and eco-friendly furniture, as consumers in the gcc region become more conscious of their environmental impact.

Local special circumstances: in the gcc region also contribute to the development of the Living Room Furniture market. The region has a growing population, with a significant number of expatriates and young professionals who are setting up their homes. This demographic shift creates a strong demand for living room furniture, as individuals and families seek to furnish their living spaces. Underlying macroeconomic factors also play a role in the growth of the Living Room Furniture market in the gcc region. The gcc countries have experienced rapid urbanization and economic development, leading to an increase in disposable incomes and purchasing power. As a result, consumers are willing to invest in higher quality and more expensive living room furniture. Furthermore, the gcc region has a strong tourism industry, attracting visitors from around the world. This influx of tourists creates a demand for furnished accommodations, including well-designed living rooms. Hotels, serviced apartments, and rental properties in the region often invest in high-quality living room furniture to enhance the overall guest experience. In conclusion, the Living Room Furniture market in the gcc region is developing due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and contemporary designs, the rise of online shopping, the demand for sustainable furniture, and the growing population and disposable incomes in the region all contribute to the growth of the market. As the gcc region continues to develop and attract visitors, the demand for living room furniture is expected to further increase.

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.