Market Insights Consumer Furniture Living Room Furniture

Seats & Sofas - Australia & Oceania

Australia & Oceania

In Australia & Oceania, the revenue generated in the Seats & Sofas market is estimated to be US$1.94bn in 2024.
It is projected that the market will experience an annual growth rate of 4.95% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, with US$46,120m in 2024.
Taking into account the total population figures, per person revenues of US$44.56 are expected to be generated in 2024.
The demand for luxury leather sofas in Australia has increased steadily over the past year, reflecting the country's affluent consumer base.

Key regions: Canada, Brazil, United States, Worldwide, France

Market

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Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments 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.