Furniture - Senegal

Senegal

Senegal's Furniture market is projected to generate revenue of US$40.46m in 2024.
The market is expected to grow at an annual rate of 3.20% (CAGR 2024-2029).
The largest segment in the market is Home Décor, which is estimated to have a market volume of US$18.69m in 2024.
In comparison to other countries, in the United States generates the highest revenue in the Furniture market, reaching US$263bn in 2024.
When considering the population, the per person revenue in Senegal is US$2.22 in 2024.
Senegal's furniture market is experiencing a surge in demand for locally-made, artisanal 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 Senegal has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Furniture market in Senegal have been shifting towards modern and contemporary styles, as consumers seek more functional and aesthetically pleasing furniture options. This shift is influenced by global trends in interior design and the increasing exposure to international furniture brands. Additionally, there is a growing demand for environmentally friendly and sustainable furniture, as consumers become more conscious of their ecological footprint. Trends in the market include the rise of e-commerce and online furniture retailers, which have made it easier for consumers to access a wide range of furniture options and compare prices. This trend is particularly relevant in urban areas, where consumers have busy lifestyles and limited time for traditional shopping. In addition, there is a growing interest in customized and personalized furniture, as consumers look for unique pieces that reflect their individual style and taste. This trend is driven by the desire for exclusivity and the need for self-expression.

Local special circumstances: also play a role in the development of the Furniture market in Senegal. The country has a young and growing population, which creates a strong demand for housing and furniture. Rapid urbanization and increasing disposable incomes have further fueled this demand. Additionally, the government has implemented policies to promote the local manufacturing industry, including furniture production. This has led to the emergence of local furniture manufacturers and artisans, who offer unique and locally made products. Underlying macroeconomic factors have also contributed to the growth of the Furniture market in Senegal. The country has experienced stable economic growth in recent years, which has increased consumer purchasing power. Additionally, the government has invested in infrastructure development, such as housing projects and commercial buildings, which has created a demand for furniture. Furthermore, Senegal is strategically located in West Africa, making it an attractive market for international furniture brands looking to expand their presence in the region. In conclusion, the Furniture market in Senegal is developing in response to changing customer preferences, emerging trends, and local special circumstances. The shift towards modern and sustainable furniture, the rise of e-commerce, the demand for customized products, and the presence of a young and growing population are driving the growth of the market. Additionally, stable economic growth, government investments, and the country's strategic location contribute to the favorable market conditions.

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.