Furniture - Southern Africa

Southern Africa

In 2024, the Furniture market in Southern Africa generated a revenue of US$2.31bn.
It is projected to experience an annual growth rate of 1.59% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which accounted for a market volume of US$0.74bn in 2024.
When compared to other countries globally, in the United States leads in revenue generation, with a total of US$264bn in 2024.
In terms of per capita figures, the revenue generated per person in Southern Africa amounts to US$32.92 in 2024.
Despite economic challenges, the furniture market in Southern Africa is experiencing 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 Southern Africa is experiencing significant growth and development.

Customer preferences: Customers in Southern Africa have shown a growing preference for high-quality and durable furniture. They are looking for furniture pieces that are not only aesthetically pleasing but also long-lasting. This shift in customer preferences can be attributed to the increasing disposable income and changing lifestyles in the region. Additionally, customers are also becoming more conscious of sustainability and are seeking furniture made from eco-friendly materials.

Trends in the market: One of the key trends in the Furniture market in Southern Africa is the rising demand for customized furniture. Customers are increasingly looking for unique and personalized furniture pieces that reflect their individual style and taste. This trend has led to the emergence of local artisans and designers who cater to this demand. Furthermore, there is a growing interest in furniture that combines traditional craftsmanship with modern design elements, creating a fusion of styles that appeals to a wide range of customers. Another trend in the market is the increasing popularity of online furniture shopping. With the advent of e-commerce platforms, customers now have easy access to a wide variety of furniture options from both local and international brands. This has not only expanded the choices available to customers but has also made furniture shopping more convenient and accessible. Online platforms also provide customers with the opportunity to compare prices and read customer reviews, enabling them to make informed purchasing decisions.

Local special circumstances: Southern Africa is a region known for its rich cultural heritage and diverse craftsmanship. This has contributed to the growth of the furniture market, as customers value locally-made and handcrafted furniture. Local artisans and designers are able to incorporate traditional techniques and materials into their designs, creating unique and culturally significant pieces. This emphasis on local craftsmanship has also led to the preservation and promotion of traditional skills and knowledge.

Underlying macroeconomic factors: The growth of the Furniture market in Southern Africa can be attributed to several macroeconomic factors. Firstly, the region has experienced steady economic growth in recent years, resulting in an increase in disposable income. This has allowed customers to spend more on furniture and invest in higher-quality pieces. Additionally, urbanization and a growing middle class have also contributed to the expansion of the market. As more people move to cities and improve their living standards, there is a greater demand for furniture to furnish homes and offices. In conclusion, the Furniture market in Southern Africa is witnessing a surge in growth and development. Customer preferences for high-quality and durable furniture, along with a growing interest in customization and online shopping, are driving the market trends. The region's rich cultural heritage and emphasis on local craftsmanship further contribute to the growth of the market. Overall, the underlying macroeconomic factors, such as economic growth, urbanization, and a growing middle class, are fueling the expansion of the Furniture market in Southern Africa.

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.