Furniture - Oman

Oman

In 2024, the Furniture market in Oman is projected to generate a revenue of US$788.50m.
Over the period of 2024-2029, the market is anticipated to experience an annual growth rate of 3.05% (CAGR).
Among the various segments within the market, the largest one is the Living Room Furniture segment, which is expected to have a market volume of US$262.20m in 2024.
When compared globally, in the United States stands out as the country generating the highest revenue in the Furniture market, with a figure of US$264bn in 2024.
In terms of per person revenues, in Oman is projected to have a value of US$167.30 in 2024.
The furniture market in Oman is experiencing a surge in demand for traditional Omani-style furniture, reflecting a growing appreciation for 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 Oman has been experiencing steady growth in recent years, driven by changing customer preferences, market trends, and local special circumstances.

Customer preferences: Customers in Oman are increasingly seeking furniture that combines functionality with aesthetic appeal. They are looking for modern and stylish designs that fit well with their interior decor. Additionally, there is a growing demand for furniture that is durable and of high quality, as customers are willing to invest in long-lasting pieces. Moreover, customers are also becoming more conscious of sustainable and eco-friendly furniture options, leading to an increased demand for products made from recycled or renewable materials.

Trends in the market: One of the key trends in the furniture market in Oman is the rise of online shopping. With the increasing penetration of internet and smartphone usage, customers are now more inclined to purchase furniture online. This trend has been further fueled by the convenience of online shopping, as customers can browse through a wide range of products and compare prices without leaving their homes. As a result, many furniture retailers in Oman have started to establish their online presence to cater to this growing demand. Another trend in the market is the growing popularity of customized furniture. Customers are looking for unique and personalized pieces that reflect their individual style and preferences. This has led to the emergence of furniture stores and workshops that offer customization services, allowing customers to design their own furniture or modify existing designs to suit their needs. This trend has also contributed to the growth of small-scale local furniture manufacturers in Oman.

Local special circumstances: Oman has a relatively small population compared to other countries in the region, which has led to a more niche and specialized furniture market. While there are a few large furniture retailers that cater to the mass market, there is also a significant presence of smaller, boutique furniture stores that offer unique and high-end products. These stores often target a specific customer segment, such as luxury or designer furniture, and provide a more personalized shopping experience.

Underlying macroeconomic factors: The furniture market in Oman is influenced by various macroeconomic factors, including population growth, disposable income levels, and government policies. The growing population in Oman, coupled with rising disposable incomes, has contributed to an increase in consumer spending on furniture. Additionally, government initiatives to diversify the economy and promote tourism have also had a positive impact on the furniture market, as they have attracted foreign investment and boosted the hospitality sector. This, in turn, has created a demand for furniture in hotels, resorts, and other commercial establishments. In conclusion, the furniture market in Oman is developing in response to changing customer preferences, market trends, and local special circumstances. Customers are seeking modern and stylish furniture that is durable and eco-friendly, and are increasingly turning to online shopping for their furniture needs. The market is also characterized by the growing popularity of customized furniture and the presence of niche and specialized stores. The underlying macroeconomic factors, such as population growth and government initiatives, are further driving the growth of the furniture market in Oman.

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.