Living Room Furniture - New Zealand

The Living Room Furniture market in New Zealand is projected to generate a revenue of NZ US$500.80m in 2024.
According to the forecast, the market is expected to experience an annual growth rate of 0.45% (CAGR 2024-2029).
When compared to other countries worldwide, United States leads the pack with a revenue of US$73bn in 2024.
In terms of per capita figures, each person in New Zealand is anticipated to contribute NZ US$95.04 to the Living Room Furniture market in 2024.
New Zealand consumers are increasingly opting for sustainable and eco-friendly living room furniture options to align with the country's strong commitment to environmental conservation.

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 New Zealand has been experiencing steady growth in recent years. Customer preferences for modern and minimalist designs have been driving the demand for living room furniture in the country. Additionally, the local special circumstances and underlying macroeconomic factors have also contributed to the development of the market.

Customer preferences: in New Zealand have shifted towards modern and minimalist designs in living room furniture. Consumers are increasingly looking for furniture that is sleek, functional, and aesthetically pleasing. This preference for modern designs can be attributed to the influence of global design trends and the desire for a clean and uncluttered living space. As a result, furniture manufacturers and retailers in New Zealand have been focusing on offering a wide range of modern and minimalist designs to cater to the evolving customer preferences. In addition to customer preferences, the market trends in the Living Room Furniture sector in New Zealand have also been influenced by

Local special circumstances:. One of the key factors is the country's growing urbanization. As more people move to cities, the demand for living room furniture has increased. Urban dwellers are often looking for furniture that is compact and space-saving, making it easier to fit into smaller living spaces. This has led to an increased demand for modular furniture and multifunctional pieces that can serve multiple purposes. Furthermore, the

Underlying macroeconomic factors: have also played a role in the development of the Living Room Furniture market in New Zealand. The country's strong economy and high disposable income levels have contributed to increased consumer spending on furniture. As people have more money to spend, they are willing to invest in higher-quality and more expensive living room furniture. This has led to a rise in the average selling price of furniture in the market. Moreover, the government's focus on sustainable living and environmental conservation has also influenced the market trends in the Living Room Furniture sector. Consumers are increasingly conscious of the environmental impact of their purchases and are looking for furniture made from sustainable materials. This has led to a growing demand for eco-friendly furniture options, such as those made from recycled materials or certified sustainable wood. Overall, the Living Room Furniture market in New Zealand is developing in response to customer preferences for modern and minimalist designs, local special circumstances such as urbanization, and underlying macroeconomic factors including a strong economy and focus on sustainability. As these trends continue to shape the market, furniture manufacturers and retailers in New Zealand will need to adapt and innovate to meet the evolving needs of 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.