Living Room Furniture - Suriname | Statista Market Forecast

In Suriname, the revenue in the Living Room Furniture market is projected to reach US$11.65m in 2024.
This market is expected to experience an annual growth rate of 4.63% (CAGR 2024-2029).
When compared to other countries worldwide, United States generates the highest revenue in this segment, with US$73bn in 2024.
In terms of per capita income, each person in Suriname is projected to generate US$18.53 in revenue in 2024.
Suriname's living room furniture market is experiencing a surge in demand for traditional wooden furniture, 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 Suriname is experiencing significant development and growth. Customer preferences for modern and stylish furniture, along with the increasing disposable income of the population, are driving the demand for living room furniture in the country. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market.

Customer preferences: in Suriname are shifting towards modern and stylish living room furniture. Consumers are increasingly looking for furniture that not only provides functionality but also adds aesthetic value to their homes. This trend is driven by the influence of global design trends and the desire for a more contemporary living space. As a result, manufacturers and retailers are focusing on offering a wide range of modern furniture designs to cater to the evolving tastes of consumers. The increasing disposable income of the population in Suriname is also fueling the growth of the Living Room Furniture market. As the economy continues to improve, more people have the means to invest in high-quality furniture for their homes. This has led to an increase in demand for premium living room furniture that offers durability and comfort. Furthermore, the rising middle-class population in the country is driving the demand for affordable yet stylish furniture options. In addition to customer preferences and increasing disposable income, there are

Local special circumstances: that are contributing to the development of the Living Room Furniture market in Suriname. The country has a growing urban population, with more people moving to cities in search of better job opportunities and a higher standard of living. This urbanization trend has led to a higher demand for furniture, particularly in urban areas where people are looking to furnish their new homes.

Underlying macroeconomic factors: also play a role in the growth of the Living Room Furniture market in Suriname. The country's stable economic growth and low inflation rate have created a favorable environment for investment and consumer spending. This has encouraged both local and international furniture manufacturers to expand their operations in Suriname, leading to a wider availability of living room furniture options for consumers. In conclusion, the Living Room Furniture market in Suriname is experiencing significant development and growth due to customer preferences for modern and stylish furniture, increasing disposable income, local special circumstances such as urbanization, and underlying macroeconomic factors including stable economic growth. As the market continues to evolve, manufacturers and retailers will need to adapt to changing customer preferences and offer a diverse range of furniture options to cater to the needs of the Surinamese population.

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.