Furniture - Argentina

Argentina

In Argentina, the Furniture market generates a revenue of €4.72bn in 2024.
It is projected to have an annual growth rate of 1.72% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which has a market volume of €1.55bn in 2024.
When compared globally, in the United States generates the highest revenue in this market, with €242bn in 2024.
In terms of per capita revenues, in Argentina generates €102.40 per person in 2024.
"Argentina's furniture market is experiencing a resurgence as consumers embrace traditional craftsmanship and sustainable materials."

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.

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Furniture market in Argentina has been experiencing significant growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.

Customer preferences: Argentinian customers have shown a growing preference for stylish and modern furniture designs. They are increasingly looking for furniture that not only serves a functional purpose but also enhances the aesthetic appeal of their homes. As a result, there has been a rise in demand for contemporary furniture styles, such as minimalist and Scandinavian designs. Additionally, customers are also seeking furniture that is durable and of high quality, as they want their purchases to last for a long time.

Trends in the market: One of the key trends in the furniture market in Argentina is the increasing popularity of online shopping. With the growth of e-commerce platforms and the convenience they offer, more and more customers are opting to purchase furniture online. This trend has been further accelerated by the COVID-19 pandemic, which has led to a surge in online shopping across various industries. Online furniture retailers are capitalizing on this trend by offering a wide range of products, competitive prices, and hassle-free delivery services. Another trend in the market is the growing demand for sustainable and environmentally-friendly furniture. Argentinian customers are becoming more conscious of the impact of their purchasing decisions on the environment. They are actively seeking furniture made from sustainable materials, such as reclaimed wood and recycled plastic. Additionally, customers are also interested in furniture that is produced using eco-friendly manufacturing processes. This trend is in line with the global shift towards sustainability and reflects the increasing importance of environmental considerations in consumer choices.

Local special circumstances: One of the unique aspects of the furniture market in Argentina is the strong influence of local craftsmanship and traditional design. Argentinian furniture makers are known for their skill and expertise in creating handcrafted furniture pieces. This tradition has been passed down through generations and continues to play a significant role in the market. Customers value the craftsmanship and attention to detail that is characteristic of locally-made furniture. This preference for local products contributes to the growth of the domestic furniture industry and supports local artisans and manufacturers.

Underlying macroeconomic factors: The growth of the furniture market in Argentina is also influenced by underlying macroeconomic factors. The country has experienced periods of economic instability in the past, which have affected consumer spending patterns. However, recent government initiatives aimed at stabilizing the economy and attracting foreign investment have had a positive impact on the furniture market. Additionally, rising disposable incomes and a growing middle class have contributed to increased consumer spending on furniture. As the economy continues to recover and stabilize, the furniture market is expected to further expand. In conclusion, the furniture market in Argentina is witnessing growth due to changing customer preferences, such as a preference for stylish and modern designs, the increasing popularity of online shopping, and a growing demand for sustainable furniture. The strong influence of local craftsmanship and traditional design, as well as underlying macroeconomic factors, also contribute to the market's development.

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 categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories 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.