Outdoor Furniture - Kuwait

Kuwait

Highlights

In the year 2024, the revenue in the Outdoor Furniture market in Kuwait amounts to KWD US$98.90m.
It is projected that the market will experience an annual growth rate of 3.48% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, United States generates the highest revenue in this segment, with a total of US$18bn in 2024.
In terms of per capita income, each individual in Kuwait generates revenues of KWD US$22.74 in 2024.
Kuwait's market for outdoor furniture is seeing a surge in demand for luxurious, high-end designs to cater to the country's affluent population.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Outdoor Furniture market in Kuwait has been experiencing steady growth in recent years.

Customer preferences: Kuwaiti consumers have shown a growing interest in outdoor living spaces, which has led to an increased demand for outdoor furniture. This can be attributed to several factors, including the country's favorable climate, which allows for year-round outdoor activities. Additionally, Kuwaiti consumers have become more conscious of the importance of creating aesthetically pleasing and comfortable outdoor spaces, leading to a greater emphasis on outdoor furniture.

Trends in the market: One of the key trends in the Kuwaiti Outdoor Furniture market is the shift towards more modern and contemporary designs. Consumers are increasingly looking for furniture that complements their outdoor spaces and reflects their personal style. This has led to a rise in the popularity of sleek and minimalist designs, as well as the use of materials such as aluminum and synthetic rattan, which offer durability and easy maintenance. Another trend in the market is the growing demand for multifunctional outdoor furniture. Kuwaiti consumers are seeking furniture that can serve multiple purposes, such as outdoor dining sets that can be easily transformed into lounging areas. This trend can be attributed to the limited outdoor space available in many Kuwaiti homes, as well as the desire for versatility and flexibility in furniture choices.

Local special circumstances: One of the unique aspects of the Kuwaiti market is the high purchasing power of consumers. Kuwait has one of the highest GDP per capita in the world, which allows consumers to invest in high-quality outdoor furniture. This has created a market for premium and luxury outdoor furniture brands, catering to the discerning tastes of Kuwaiti consumers. Additionally, the Kuwaiti government has been actively promoting outdoor recreational activities as part of its efforts to enhance the quality of life for its citizens. This has resulted in increased public spending on parks, beaches, and other outdoor spaces, creating opportunities for the outdoor furniture market to grow.

Underlying macroeconomic factors: The growth of the Outdoor Furniture market in Kuwait can also be attributed to favorable macroeconomic factors. The country has a stable economy and a strong construction sector, which has led to an increase in the number of residential and commercial projects. This has created a higher demand for outdoor furniture as developers and homeowners seek to create attractive outdoor spaces. Furthermore, Kuwait has a young and growing population, with a high proportion of expatriate workers. This has led to an increase in housing construction and the development of new residential areas, further driving the demand for outdoor furniture. In conclusion, the Outdoor Furniture market in Kuwait is experiencing growth due to the preferences of Kuwaiti consumers for outdoor living spaces, the shift towards modern and multifunctional designs, the high purchasing power of consumers, government initiatives to promote outdoor recreational activities, and favorable macroeconomic factors such as a stable economy and a growing population.

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.