Furniture - Israel

Israel

In 2024, the Furniture market in Israel is projected to generate a revenue of €3.19bn.
It is anticipated to experience an annual growth rate of 2.45% (CAGR 2024-2029).
The largest segment within the market is the Living Room Furniture segment, which is estimated to have a market volume of €0.84bn in 2024.
When compared globally, in the United States leads in revenue generation with €242bn in 2024.
In terms of per person revenues, in Israel is expected to generate €342.80 in 2024.
The demand for eco-friendly and sustainable furniture is on the rise in Israel, reflecting the country's commitment to environmental consciousness.

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.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Furniture market in Israel is experiencing significant growth and development in recent years. Customer preferences in the Furniture market in Israel are shifting towards more modern and contemporary designs. Consumers are increasingly seeking furniture that is not only functional but also aesthetically pleasing and in line with current design trends. This preference for modern furniture is influenced by global design trends and the desire to create stylish and comfortable living spaces. Trends in the Furniture market in Israel include a growing demand for multifunctional furniture. With limited living spaces in urban areas, consumers are looking for furniture that can serve multiple purposes, such as sofa beds or storage ottomans. This trend is driven by the need to maximize space and create versatile living environments. Another trend in the market is the increasing popularity of sustainable and eco-friendly furniture. Consumers in Israel are becoming more conscious of their environmental impact and are seeking furniture made from sustainable materials and produced using environmentally friendly manufacturing processes. This trend is in line with global efforts towards sustainability and reflects the growing awareness of environmental issues among consumers. Local special circumstances in the Furniture market in Israel include the country's diverse cultural influences. Israel is a melting pot of different cultures, and this diversity is reflected in the demand for furniture that caters to different tastes and preferences. From traditional Middle Eastern designs to modern European styles, there is a wide range of furniture options available to cater to the diverse needs of the Israeli market. Underlying macroeconomic factors driving the growth of the Furniture market in Israel include a strong economy and increasing disposable income. Israel has experienced steady economic growth in recent years, leading to higher purchasing power among consumers. This has resulted in increased spending on furniture and home decor as consumers seek to improve their living spaces. In conclusion, the Furniture market in Israel is developing in response to changing

Customer preferences: global design trends, and

Local special circumstances:. The market is witnessing a shift towards modern and contemporary designs, as well as a growing demand for multifunctional and sustainable furniture. These trends are driven by the diverse cultural influences in Israel and the country's strong economy.

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.