Furniture - Namibia

Namibia

Highlights

The Furniture market in Namibia generated a revenue of US$189.00m in 2024.
It is projected to experience an annual growth rate of 1.17% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which accounted for a market volume of US$72.21m in 2024.
In comparison to other countries, United States generated the highest revenue with US$264bn in 2024.
When considering the population size, the per person revenue in Namibia amounted to US$71.43 in 2024.
Namibia's furniture market is experiencing a surge in demand for sustainable and eco-friendly products, reflecting the country's commitment to environmental conservation.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Namibia, a country located in southwestern Africa, has seen a significant development in its furniture market in recent years. With a growing middle class and an increasing focus on interior design and home improvement, the demand for furniture has been on the rise. Customer preferences in the Namibian furniture market have evolved over time. Previously, customers were more inclined towards traditional and rustic furniture designs. However, there has been a shift towards modern and contemporary styles in recent years. Customers are now looking for sleek and minimalist designs that offer functionality and aesthetic appeal. This change in preferences can be attributed to the influence of global design trends and the desire for a more modern and cosmopolitan lifestyle. One of the key trends in the Namibian furniture market is the growing popularity of eco-friendly and sustainable furniture. With increasing awareness about environmental issues, customers are now more conscious about the materials used in furniture production. They are actively seeking out furniture made from sustainable materials such as reclaimed wood, bamboo, and recycled materials. This trend is also driven by the global movement towards sustainability and the desire to reduce carbon footprint. Another trend in the Namibian furniture market is the rise of online shopping. With the increasing penetration of internet and smartphones, customers are now more comfortable making purchases online. Online furniture retailers have capitalized on this trend by offering a wide range of products and convenient delivery options. This shift towards online shopping has also led to increased price transparency and competition in the market, benefiting the customers. Local special circumstances in Namibia also play a role in the development of the furniture market. Namibia has a diverse cultural heritage, and this is reflected in the demand for furniture. Customers often look for furniture that reflects their cultural identity and traditions. This has led to the emergence of niche markets catering to specific cultural groups, offering furniture designs that are unique and tailored to their preferences. Underlying macroeconomic factors have also contributed to the growth of the furniture market in Namibia. The country has experienced stable economic growth in recent years, resulting in an increase in disposable income. This has enabled customers to spend more on furniture and home improvement. Additionally, the construction sector has been booming, leading to a higher demand for furniture for new homes and offices. In conclusion, the furniture market in Namibia has been developing due to changing

Customer preferences: the rise of eco-friendly and sustainable furniture, the growth of online shopping,

Local special circumstances: and

Underlying macroeconomic factors:. As the country continues to grow and urbanize, the furniture market is expected to further expand and diversify in the coming years.

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.