Living Room Furniture - Moldova | Statista Market Forecast

In Moldova, the revenue in the Living Room Furniture market in 2024 is estimated to be US$50.98m.
This market is projected to experience an annual growth rate of 4.09% (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with US$73bn in 2024.
On a per capita basis, the revenue generated per person in Moldova in 2024 is US$15.31.
Despite being a small market, Moldova has seen a surge in demand for locally-made, eco-friendly living room furniture.

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 Moldova has been experiencing steady growth in recent years. Customer preferences have shifted towards more modern and contemporary styles, with a focus on functionality and comfort. This trend is in line with the global market, where consumers are increasingly seeking furniture that is both aesthetically pleasing and practical. In terms of

Customer preferences: Moldovan consumers are looking for living room furniture that is versatile and can be easily adapted to different spaces. This is driven by the fact that many people in Moldova live in small apartments or houses with limited space. As a result, furniture that can serve multiple purposes, such as modular sofas or coffee tables with storage, is highly sought after. Another key preference among Moldovan consumers is durability. Given the economic situation in the country, people are looking for furniture that will last for a long time and withstand daily wear and tear. This has led to an increased demand for high-quality materials, such as solid wood or leather, which are known for their durability. In terms of trends in the market, there has been a rise in the popularity of minimalist and scandinavian-inspired designs. These styles are characterized by clean lines, neutral colors, and a focus on natural materials. Moldovan consumers are drawn to these designs as they offer a sense of simplicity and elegance, which is in line with the global trend towards minimalism in interior design. Local special circumstances in Moldova also play a role in shaping the Living Room Furniture market. The country has a relatively low gdp per capita compared to other European countries, which means that price is an important factor for many consumers. As a result, there is a strong demand for affordable furniture options that offer good value for money. Furthermore, the distribution channels in Moldova are also a factor in the market's development. While traditional brick-and-mortar stores still dominate the market, there has been a gradual shift towards online shopping. This trend has been accelerated by the covid-19 pandemic, which has increased the reliance on e-commerce platforms for purchasing furniture. Underlying macroeconomic factors, such as population growth and urbanization, also contribute to the development of the Living Room Furniture market in Moldova. As more people move to urban areas and start their own households, the demand for furniture increases. Additionally, as the middle class continues to grow, consumers have more disposable income to spend on furniture and home decor. In conclusion, the Living Room Furniture market in Moldova is developing in line with global trends towards modern and functional designs. Customer preferences for versatile and durable furniture, as well as the rise of minimalist styles, are driving the market's growth.

Local special circumstances: such as the importance of affordability and the shift towards online shopping, also shape the market. Finally,

Underlying macroeconomic factors: such as population growth and urbanization, contribute to the increasing demand for living room furniture in Moldova.

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.