Furniture - Saudi Arabia

Saudi Arabia

In 2024, the Furniture market in Saudi Arabia is projected to generate a revenue of US$8.25bn.
The market is expected to have an annual growth rate of 1.11% (CAGR 2024-2029).
The largest segment within the market is the Living Room Furniture segment, which is estimated to have a market volume of US$2.71bn in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, reaching US$264bn in 2024.
In terms of per person revenues, in 2024, each Saudi_Arabian generates US$220.10.
The furniture market in Saudi Arabia is experiencing a surge in demand for luxury, traditional-style pieces that showcase 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 Saudi Arabia has been experiencing steady growth in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on quality and durability. The market has seen an increase in demand for furniture that is both functional and aesthetically pleasing.

Customer preferences: Saudi Arabian consumers are increasingly seeking furniture that reflects their personal style and taste. They are looking for unique and innovative designs that can enhance the overall look and feel of their homes. As a result, there has been a rise in demand for customized furniture options. Customers are also placing a high value on quality and durability, as they want furniture that can withstand the test of time.

Trends in the market: One major trend in the Saudi Arabian furniture market is the growing popularity of online shopping. With the increasing use of smartphones and internet penetration, consumers are now more comfortable making purchases online. This has led to the emergence of several online furniture retailers, offering a wide range of products at competitive prices. Additionally, the rise of e-commerce has made it easier for customers to compare prices and find the best deals. Another trend in the market is the increasing demand for eco-friendly and sustainable furniture. Saudi Arabia has been making efforts to promote sustainability and reduce its carbon footprint. As a result, there is a growing interest among consumers in furniture made from recycled materials or sourced from sustainable forests. This trend is expected to continue as consumers become more conscious of their environmental impact.

Local special circumstances: Saudi Arabia has a unique cultural and religious context that influences customer preferences in the furniture market. Traditional Arabic designs continue to be popular, with many consumers opting for furniture that reflects their cultural heritage. Additionally, the large expatriate population in the country has led to a demand for furniture that caters to different cultural tastes and preferences.

Underlying macroeconomic factors: The growth of the furniture market in Saudi Arabia can be attributed to several macroeconomic factors. The country has a young and growing population, with a rising middle class that has higher disposable income. This has led to an increase in consumer spending on furniture and home decor. Furthermore, the government has been implementing economic reforms to diversify the economy and reduce its dependence on oil. This has led to increased investments in infrastructure development, including the construction of new residential and commercial buildings. As a result, there is a higher demand for furniture to furnish these new spaces. In conclusion, the Furniture market in Saudi Arabia is experiencing growth due to changing customer preferences, such as a preference for modern and contemporary designs, as well as an increasing demand for online shopping and sustainable furniture. The local cultural and religious context, as well as underlying macroeconomic factors, also contribute 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.