Furniture - Tanzania

Tanzania

In 2024, the revenue in the Furniture market in Tanzania is estimated to be US$597.90m.
It is projected that the market will experience an annual growth rate of 1.36% (CAGR 2024-2029).
The largest segment within the market is the Living Room Furniture segment, which is expected to have a market volume of US$210.40m in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, amounting to US$264bn in 2024.
Considering the total population, the per person revenue in Tanzania is US$8.61 in 2024.
Tanzania's furniture market is witnessing a surge in demand for traditional, handcrafted 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 Tanzania has been experiencing significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Tanzania have been shifting towards modern and stylish furniture designs. As the middle class continues to grow and urbanization increases, consumers are becoming more interested in furniture that reflects their personal style and enhances their living spaces. This has led to a rise in demand for contemporary furniture pieces that are functional, aesthetically pleasing, and durable.

Trends in the market: have also played a role in the development of the Furniture market in Tanzania. With the rise of e-commerce and online shopping platforms, consumers now have access to a wider range of furniture options from both local and international suppliers. This has increased competition in the market and encouraged furniture retailers to improve their product offerings and customer service. Additionally, there has been a growing interest in sustainable and eco-friendly furniture, as consumers become more conscious of the environmental impact of their purchasing decisions.

Local special circumstances: have further contributed to the growth of the Furniture market in Tanzania. The country's construction industry has been booming, with numerous residential and commercial projects underway. This has created a high demand for furniture, as new buildings require furnishing. Furthermore, the government has implemented policies to promote local manufacturing and reduce dependence on imports. This has encouraged the establishment of local furniture manufacturing companies, leading to increased production and availability of locally-made furniture.

Underlying macroeconomic factors: have also played a role in the development of the Furniture market in Tanzania. The country's stable economic growth and rising disposable incomes have increased consumers' purchasing power, allowing them to invest in higher-quality furniture. Additionally, the government's efforts to improve infrastructure and attract foreign investment have created a favorable business environment, attracting international furniture companies to enter the market. In conclusion, the Furniture market in Tanzania is experiencing significant growth due to shifting customer preferences towards modern designs, trends in the market such as e-commerce and sustainable furniture, local special circumstances including a booming construction industry and government policies promoting local manufacturing, and underlying macroeconomic factors such as stable economic growth and rising disposable incomes. These factors have created a favorable environment for the development of the Furniture market in Tanzania, and the industry is expected to continue growing in the coming years.

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.