Furniture - Iran

Iran

In 2024, the Furniture market in Iran is projected to generate a revenue of €3.96bn.
It is anticipated that the market will experience an annual growth rate of 1.99% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which is expected to have a market volume of €1.48bn in 2024.
When compared to other countries globally, in the United States leads in terms of revenue generation, with an estimated revenue of €245bn in 2024.
Taking into account the total population, the per person revenue in Iran's Furniture market is approximately €44.13 in 2024.
"The furniture market in Iran is experiencing a surge in demand for traditional Persian designs, showcasing the country's rich cultural heritage."

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 Iran has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Furniture market in Iran have shifted towards more modern and contemporary designs. Consumers are increasingly looking for furniture pieces that are not only functional but also aesthetically pleasing and in line with current design trends. This shift in preferences has led to an increase in demand for furniture that incorporates sleek lines, minimalist designs, and innovative materials. Additionally, there is a growing demand for furniture that is environmentally friendly and sustainable, as consumers in Iran are becoming more conscious of the impact of their purchasing decisions on the environment. Trends in the Furniture market in Iran include the rise of e-commerce and online furniture retailers. With the increasing availability of internet access and the growing popularity of online shopping, consumers in Iran are now able to browse and purchase furniture from the comfort of their own homes. This trend has opened up new opportunities for both local and international furniture retailers to reach a wider customer base in the country. Another trend in the market is the growing demand for multifunctional furniture, particularly in urban areas where space is limited. Consumers are looking for furniture pieces that can serve multiple purposes and maximize the use of their living spaces.

Local special circumstances: in Iran have also contributed to the development of the Furniture market. The country has a young and growing population, with a high percentage of individuals entering the workforce and starting their own households. This demographic trend has resulted in an increased demand for furniture as young adults set up their homes and invest in furniture for the first time. Additionally, the government of Iran has been actively promoting the growth of the furniture industry through various initiatives and policies. This support has attracted both local and foreign investment in the sector, leading to the establishment of new manufacturing facilities and the introduction of innovative technologies. Underlying macroeconomic factors, such as economic growth and rising disposable incomes, have also played a role in the development of the Furniture market in Iran. As the economy continues to grow, more individuals and households have the financial means to invest in furniture and home furnishings. This has created a favorable market environment for furniture retailers and manufacturers, leading to increased sales and production. Furthermore, the government's efforts to diversify the economy and reduce reliance on oil revenues have resulted in the development of other sectors, including construction and real estate. This has created a strong demand for furniture as new homes and commercial buildings are being constructed across the country. In conclusion, the Furniture market in Iran is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The shift towards modern and contemporary designs, the rise of e-commerce, and the demand for multifunctional furniture are driving the market forward. Additionally, the young population, government support, and economic growth are contributing to the expansion of the furniture industry in Iran.

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.