Furniture - Niger

Niger

In the year 2024, the revenue in the Furniture market of Niger amounts to US$179.10m.
It is projected that the market will experience an annual growth rate of 5.33% (CAGR 2024-2029).
The largest segment in the market is the Living Room Furniture segment, which has a market volume of US$65.27m 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 person revenues, the figure stands at US$6.34 in 2024.
Despite limited resources, Niger's furniture market has seen a surge in demand for locally made, eco-friendly products.

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 Niger has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the Furniture market in Niger have been shifting towards more modern and contemporary designs. Customers are increasingly looking for furniture that is not only functional, but also aesthetically pleasing and in line with current design trends. This shift in preferences has led to an increase in demand for furniture that incorporates sleek lines, minimalist designs, and innovative materials. Customers are also placing a greater emphasis on sustainability and are seeking furniture made from eco-friendly materials. Trends in the Furniture market in Niger are also influenced by global and regional market developments. One such trend is the rise of e-commerce, which has made it easier for customers to browse and purchase furniture online. This has led to increased competition among furniture retailers and manufacturers, as they strive to offer unique products and provide a seamless online shopping experience. Another trend is the growing popularity of multifunctional furniture, which appeals to customers who are looking to maximize space in their homes. This trend is driven by the increasing urbanization and smaller living spaces in many cities in Niger.

Local special circumstances: in Niger also play a role in shaping the Furniture market. Niger is a country with a young and rapidly growing population, which has resulted in an increasing demand for housing and furniture. This demographic trend has created opportunities for furniture manufacturers and retailers to cater to the needs of a growing customer base. Additionally, the government of Niger has been implementing policies to promote the local manufacturing industry, including the furniture sector. This has encouraged the growth of domestic furniture manufacturers and has led to an increase in the availability of locally-made furniture in the market. Underlying macroeconomic factors also contribute to the development of the Furniture market in Niger. Economic growth and rising disposable incomes have increased the purchasing power of consumers, enabling them to spend more on furniture. Additionally, urbanization and a growing middle class have led to a higher demand for furniture, as more people are moving to cities and setting up new households. Furthermore, the stability of the political and economic environment in Niger has attracted foreign investment in the furniture sector, contributing to its growth. In conclusion, the Furniture market in Niger is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and contemporary designs, the rise of e-commerce, the popularity of multifunctional furniture, the young and growing population, government policies, economic growth, urbanization, and rising disposable incomes are all contributing to the development of the market.

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.