Living Room Furniture - Georgia | Statista Market Forecast

In 2024, the Living Room Furniture market in Georgia is expected to generate a revenue of US$84.76m.
This market is projected to grow annually at a rate of 1.70% (CAGR 2024-2029).
When compared globally, United States leads in revenue generation with US$73bn in 2024.
Looking at the per person figures, in 2024, each individual in Georgia generates a revenue of US$22.80.
Georgia's demand for traditional wooden living room furniture is on the rise, reflecting the country's rich cultural heritage.

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 Georgia is experiencing steady growth due to various factors such as changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in Georgia are increasingly looking for living room furniture that combines both style and functionality. They prefer furniture pieces that are not only aesthetically pleasing but also provide comfort and practicality. Additionally, there is a growing demand for modular and space-saving furniture solutions as many people in Georgia live in smaller apartments or houses.

Trends in the market: One of the key trends in the Living Room Furniture market in Georgia is the increasing popularity of minimalist and contemporary designs. Customers are gravitating towards clean lines, neutral colors, and simple yet elegant furniture pieces. This trend is influenced by global design aesthetics and the desire for a modern and uncluttered living space. Another trend in the market is the rising demand for eco-friendly and sustainable furniture options. Customers in Georgia are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials such as bamboo, reclaimed wood, or recycled materials. This trend aligns with the global movement towards sustainability and responsible consumption.

Local special circumstances: Georgia has a rich cultural heritage and traditional craftsmanship, which has a significant influence on the local furniture market. Customers in Georgia appreciate handcrafted furniture pieces that showcase traditional Georgian craftsmanship and design elements. This preference for locally made furniture creates opportunities for local artisans and small-scale manufacturers.

Underlying macroeconomic factors: The growing economy in Georgia is contributing to the development of the Living Room Furniture market. As disposable incomes rise, people have more purchasing power and are willing to invest in high-quality furniture for their living spaces. Additionally, the construction industry in Georgia is booming, leading to an increased demand for furniture to furnish new homes and apartments. In conclusion, the Living Room Furniture market in Georgia is witnessing growth driven by changing customer preferences, emerging trends, and local special circumstances. The demand for stylish and functional furniture, minimalist and contemporary designs, and sustainable options is shaping the market. The rich cultural heritage and growing economy of Georgia further contribute to the development of the market.

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.