Furniture - Bahrain

Bahrain

The Furniture market in Bahrain is expected to generate a revenue of €343.60m in 2024.
This market is projected to grow annually by 1.02% (CAGR 2024-2029).
The largest segment in the Furniture market is the Living Room Furniture segment, which is estimated to have a market volume of €113.20m in 2024.
In comparison to other countries, in the United States generates the highest revenue in this market, amounting to €242bn in 2024.
When considering the population size, the per person revenue in Bahrain is approximately €229.20 in 2024.
Bahrain's furniture market is experiencing a surge in demand for luxury and contemporary designs, reflecting the country's growing affluence and modernization.

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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Analyst Opinion

The Furniture market in Bahrain is experiencing steady growth due to the increasing demand for furniture products in the country. Customer preferences are shifting towards modern and stylish furniture designs, which are in line with global trends. Additionally, local special circumstances such as the growing population and the government's focus on infrastructure development are contributing to the expansion of the furniture market.

Customer preferences: Customers in Bahrain are increasingly looking for furniture products that are not only functional but also aesthetically pleasing. The demand for modern and stylish furniture designs is on the rise, as customers seek to enhance the visual appeal of their homes and offices. This trend is in line with global preferences, where contemporary designs are gaining popularity. Customers also value furniture that is durable and of high quality, as they seek long-term investment pieces for their homes.

Trends in the market: One of the key trends in the furniture market in Bahrain is the growing popularity of online shopping. Customers are increasingly turning to online platforms to purchase furniture, as it offers convenience and a wider range of options. Online retailers are capitalizing on this trend by offering competitive prices, easy payment options, and hassle-free delivery services. This shift towards online shopping is expected to continue driving the growth of the furniture market in Bahrain. Another trend in the market is the increasing demand for eco-friendly furniture. Customers are becoming more conscious of the environmental impact of their purchases and are actively seeking sustainable furniture options. This includes furniture made from recycled materials, as well as products that are produced using environmentally friendly manufacturing processes. Furniture retailers are responding to this trend by offering eco-friendly furniture lines, which cater to the growing demand for sustainable products.

Local special circumstances: Bahrain's growing population is one of the key factors driving the growth of the furniture market. As the population increases, there is a greater demand for housing, which in turn leads to an increased demand for furniture. The government's focus on infrastructure development, including the construction of new residential and commercial buildings, is also contributing to the expansion of the furniture market. These developments provide opportunities for furniture retailers to cater to the needs of the growing population.

Underlying macroeconomic factors: Bahrain's stable economy and high per capita income are favorable factors for the furniture market. The country has a strong consumer base with a high purchasing power, which supports the demand for furniture products. Additionally, the government's efforts to diversify the economy and promote tourism are expected to further boost the furniture market. As Bahrain continues to attract investment and develop its infrastructure, the demand for furniture is likely to continue growing.

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.