Furniture - Zambia

Zambia

In Zambia, the Furniture market generates a revenue of US$19.81m in 2024.
It is projected to experience an annual growth rate of 5.77% (CAGR 2024-2029).
The largest segment within the market is Home Décor, which has a market volume of US$18.36m in 2024.
When compared globally, in the United States generates the highest revenue in this sector, amounting to US$264bn in 2024.
In terms of per capita figures, each person in Zambia generates a revenue of US$0.94 in 2024.
The furniture market in Zambia is experiencing a surge in demand for locally-made, handcrafted pieces, reflecting a growing appreciation for traditional craftsmanship and supporting local artisans.

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 Zambia is experiencing significant growth and development in recent years.

Customer preferences: Zambian customers have shown a growing preference for modern and stylish furniture designs. They are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes and offices. This shift in customer preferences can be attributed to the increasing exposure to global design trends through the internet and social media platforms.

Trends in the market: One of the key trends in the Zambian furniture market is the rising demand for eco-friendly and sustainable furniture. Customers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking furniture made from sustainable materials such as reclaimed wood or recycled plastic. This trend is in line with the global movement towards sustainable living and reflects the growing awareness of environmental issues among Zambian consumers. Another trend that is shaping the furniture market in Zambia is the increasing popularity of online furniture shopping. With the rise of e-commerce platforms and the convenience of online shopping, more and more Zambian customers are turning to the internet to browse and purchase furniture. This trend has been further accelerated by the COVID-19 pandemic, which has limited physical shopping options and encouraged consumers to explore online alternatives.

Local special circumstances: Zambia's growing middle class is a key driver of the furniture market. As disposable incomes rise, more individuals and families are able to afford higher-quality furniture and invest in home improvement projects. Additionally, the government's efforts to promote affordable housing and urban development have also contributed to the demand for furniture, as new homeowners seek to furnish their homes.

Underlying macroeconomic factors: Zambia's strong economic growth in recent years has played a significant role in the development of the furniture market. The country's stable political environment and favorable investment climate have attracted foreign direct investment, leading to increased production and availability of furniture in the market. Additionally, the government's focus on infrastructure development has created employment opportunities and boosted consumer spending power, further driving the demand for furniture. In conclusion, the furniture market in Zambia is experiencing growth and development due to changing customer preferences, including a preference for modern and eco-friendly designs. The increasing popularity of online furniture shopping and the country's growing middle class are also contributing to the market's expansion. Furthermore, macroeconomic factors such as strong economic growth and government initiatives have created a conducive environment for the growth of the furniture market in Zambia.

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.