Furniture - Egypt

Egypt

In Egypt, the revenue generated in the Furniture market in 2024 amounts to €1,817.00m.
It is projected that the market will experience an annual growth rate of 4.57% from 2024 to 2029 (CAGR 2024-2029).
The largest segment in the market is the Living Room Furniture segment, which has a market volume of €638.70m in 2024.
When compared globally, in the United States generates the highest revenue in the Furniture market, with a total of €242bn in 2024.
In terms of per capita figures, in Egypt, each person generates a revenue of €15.88 in 2024.
The Furniture market is an important sector in Egypt's economy.
Egyptian consumers are increasingly favoring locally-made, artisanal furniture over imported mass-produced options.

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 Egypt has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on functionality and comfort. This trend is influenced by global market trends, as well as local special circumstances.

Customer preferences: In Egypt, customers are increasingly seeking furniture that is not only aesthetically pleasing but also functional and comfortable. Modern and contemporary designs have gained popularity, reflecting a desire for sleek and minimalist styles. Customers are also looking for furniture that can maximize space utilization, as living spaces in urban areas are often limited. Additionally, there is a growing demand for eco-friendly and sustainable furniture options, as customers become more conscious of the environmental impact of their purchases.

Trends in the market: One of the key trends in the Egyptian furniture market is the rise of e-commerce. Online shopping platforms have become increasingly popular, offering customers a convenient and efficient way to browse and purchase furniture. This trend has been accelerated by the COVID-19 pandemic, as more people turned to online shopping due to social distancing measures. As a result, furniture retailers have been investing in their online presence and enhancing their digital capabilities to cater to the growing demand for online shopping. Another trend in the market is the increasing use of technology in furniture design and production. Egyptian furniture manufacturers are adopting advanced manufacturing techniques, such as computer-aided design (CAD) and computer numerical control (CNC) machines, to improve efficiency and precision in production. This allows for the creation of customized and personalized furniture pieces, catering to individual customer preferences.

Local special circumstances: Egypt has a large and growing population, with a significant portion of the population being young and urban. This demographic profile has contributed to the demand for furniture, as young urban dwellers seek to furnish their homes with modern and functional pieces. Additionally, the government's focus on urban development and infrastructure projects has led to an increase in housing construction, further driving the demand for furniture.

Underlying macroeconomic factors: The Egyptian economy has been experiencing steady economic growth in recent years, which has positively impacted the furniture market. Rising disposable incomes and a growing middle class have increased the purchasing power of consumers, allowing them to invest in higher-quality furniture. Furthermore, government initiatives to promote investment and improve the business environment have attracted foreign furniture manufacturers to set up production facilities in Egypt, contributing to the growth of the market. In conclusion, the Furniture market in Egypt is developing in response to changing customer preferences, with a shift towards modern and functional designs. The rise of e-commerce and the adoption of technology in furniture production are key trends in the market. Local special circumstances, such as a growing population and urban development projects, contribute to the demand for furniture. Overall, the positive macroeconomic factors, including steady economic growth and rising disposable incomes, support the development of the furniture market in Egypt.

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.