Furniture - Fiji

Fiji

In 2024, the Furniture market in Fiji generated a revenue of €14.27m.
It is projected to experience an annual growth rate of 0.95% (CAGR 2024-2029).
Among the various segments in this market, the largest one is the Living Room Furniture segment, which had a market volume of €4.60m in 2024.
Comparing it to other countries, in the United States leads the global market with a revenue of €242bn in the same year.
When considering the population, the per person revenue in Fiji is estimated to be €15.13 in 2024.
Fiji's furniture market is witnessing a surge in demand for sustainable and eco-friendly designs, reflecting the country's commitment to preserving its natural environment.

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 Fiji has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in Fiji have shifted towards more modern and stylish furniture designs. Consumers are increasingly seeking furniture that is not only functional but also aesthetically pleasing. This has led to a rise in demand for furniture that incorporates contemporary designs, sleek lines, and vibrant colors. Additionally, there is a growing preference for furniture that is eco-friendly and sustainable, reflecting a global trend towards more environmentally conscious choices.

Trends in the market: indicate a growing demand for space-saving furniture solutions. As urbanization and population density increase in Fiji, there is a greater need for furniture that can maximize limited living spaces. This has led to a surge in the popularity of multi-functional furniture such as sofa beds, storage ottomans, and modular shelving units. These innovative designs cater to the needs of urban dwellers who are looking for furniture that can serve multiple purposes without compromising on style or quality.

Local special circumstances: in Fiji have also contributed to the development of the furniture market. The tourism industry plays a crucial role in the country's economy, attracting a large number of international visitors each year. This has created a demand for high-quality furniture in hotels, resorts, and other accommodation facilities. As a result, furniture manufacturers and retailers have focused on producing durable and visually appealing furniture that can meet the requirements of the hospitality sector.

Underlying macroeconomic factors: have also played a significant role in the growth of the furniture market in Fiji. The country's stable economic growth, rising disposable incomes, and increasing urbanization have created a favorable environment for the furniture industry. As more Fijians move into urban areas and experience an improvement in their living standards, the demand for furniture has increased. Additionally, government initiatives to promote local manufacturing and support small businesses have provided a boost to the domestic furniture industry. In conclusion, the Furniture market in Fiji is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and stylish designs, the demand for space-saving furniture solutions, the influence of the tourism industry, and the country's stable economic growth have all contributed to the growth of the market. As Fiji continues to experience urbanization and rising disposable incomes, the furniture market is expected to further expand 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.