Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: Worldwide, United States, China, India, Germany
The Furniture market in Myanmar has been experiencing significant growth in recent years. Customer preferences have shifted towards modern and stylish furniture, leading to an increase in demand for imported furniture. Additionally, the rise in disposable income and urbanization has contributed to the growth of the furniture market in Myanmar.
Customer preferences: in Myanmar have evolved over time. Previously, traditional and handcrafted furniture were popular among consumers. However, there has been a shift towards modern and stylish furniture in recent years. This change in customer preferences can be attributed to the influence of global trends and the desire for a more contemporary living environment. As a result, there has been an increase in the demand for imported furniture, especially from countries known for their high-quality and innovative designs. The furniture market in Myanmar has also been driven by underlying macroeconomic factors. The country has experienced a steady increase in disposable income, which has allowed consumers to spend more on furniture and home decor. Additionally, urbanization has led to an increase in demand for furniture, as more people move to cities and require furnishings for their new homes. These macroeconomic factors have created a favorable environment for the growth of the furniture market in Myanmar. In addition to customer preferences and macroeconomic factors, there are also local special circumstances that have contributed to the development of the furniture market in Myanmar. The country has a rich cultural heritage and a tradition of craftsmanship, which has influenced the local furniture industry. Local artisans and craftsmen continue to produce traditional furniture, catering to a niche market of consumers who value authenticity and heritage. This blend of traditional and modern furniture options has created a diverse and vibrant furniture market in Myanmar. Despite the positive trends and developments in the furniture market, there are also challenges that need to be addressed. The lack of infrastructure and logistical support can hinder the growth of the industry. Additionally, the high cost of imported furniture and the presence of counterfeit products in the market can pose challenges for both consumers and businesses. However, with the right investments and policies in place, the furniture market in Myanmar has the potential to continue its growth trajectory and become a key player in the global furniture industry.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)