Furniture - Moldova

Moldova

In Moldova, the revenue in the Furniture market is estimated to reach US$128.80m in 2024.
It is projected to experience an annual growth rate of 3.68% (CAGR 2024-2029).
Among the different segments, the largest market segment is the Living Room Furniture, which is expected to have a market volume of US$50.98m in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, amounting to US$263bn in 2024.
In terms of per capita income, in Moldova is estimated to generate US$38.69 in revenue per person in the Furniture market in 2024.
Moldova's furniture market is experiencing a surge in demand for traditional, handcrafted pieces, reflecting the country's rich cultural heritage.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market 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.

Market

Region

Region comparison

Currency

Analyst Opinion

The Furniture market in Moldova has been experiencing steady growth over the past few years. Customer preferences are shifting towards modern and minimalist designs, with a focus on functionality and affordability. This trend is in line with global market preferences, as consumers worldwide are seeking furniture that is both aesthetically pleasing and practical. Additionally, local special circumstances, such as an increase in disposable income and urbanization, have contributed to the growth of the furniture market in Moldova.

Customer preferences: in the furniture market in Moldova have evolved over time. Consumers are increasingly looking for furniture that is modern and minimalist in design. This shift can be attributed to changing lifestyles and the influence of global design trends. Customers are also placing a greater emphasis on functionality and affordability, as they seek furniture that can serve multiple purposes and fit within their budget. This trend is in line with global market preferences, as consumers worldwide are gravitating towards furniture that is both aesthetically pleasing and practical. The furniture market in Moldova is also influenced by

Local special circumstances:. The country has experienced an increase in disposable income, which has allowed consumers to spend more on furniture. As a result, there has been a growing demand for higher quality and more expensive furniture options. Additionally, urbanization has played a role in the growth of the furniture market. As more people move to urban areas, there is a greater need for furniture to furnish their homes. This has led to an increased demand for a wide range of furniture products, including sofas, beds, and dining sets. Underlying macroeconomic factors have also contributed to the growth of the furniture market in Moldova. The country has seen a stable economic environment, with steady gdp growth and low inflation rates. This has provided consumers with confidence and stability, encouraging them to make purchases in the furniture market. Additionally, the government has implemented policies to support the development of the furniture industry, such as providing subsidies and incentives for furniture manufacturers. These factors have created a favorable business environment for both local and international furniture companies, leading to increased competition and innovation in the market. In conclusion, the furniture market in Moldova is experiencing growth due to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. Customers are increasingly seeking modern and minimalist furniture that is functional and affordable. Local factors such as an increase in disposable income and urbanization have contributed to the growth of the market. Additionally, a stable economic environment and government support have created a favorable business environment for furniture manufacturers. As a result, the furniture market in Moldova is expected to continue growing in the coming years.

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.