Kitchen & Dining Furniture - Gambia

Gambia

In Gambia, revenue in the Kitchen & Dining Furniture market reaches €1.17m in 2024.
It is projected to experience an annual growth rate of 3.36% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States generates the highest revenue in this segment, amounting to €35,620m in 2024.
Looking at the per capita perspective, in 2024, each person contributes to revenue of €0.41.
Despite limited economic resources, Gambia has witnessed a growing demand for locally-made, sustainable kitchen and dining furniture, reflecting a shift towards supporting local artisans and embracing eco-friendly practices.

Key regions: Canada, United Kingdom, Brazil, Germany, India

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Región

Comparación de regiones

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Analyst Opinion

The Kitchen & Dining Furniture market in Gambia has witnessed significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: in the Kitchen & Dining Furniture market in Gambia have been shifting towards more modern and stylish designs. Consumers are increasingly looking for furniture that not only serves its functional purpose but also adds aesthetic value to their homes. This trend is influenced by global market trends, as customers in Gambia are becoming more exposed to international design influences through the internet and social media. As a result, there is a growing demand for sleek and contemporary kitchen and dining furniture in the country. In addition to changing customer preferences,

Local special circumstances: have also contributed to the development of the Kitchen & Dining Furniture market in Gambia. The country's growing middle class and improving purchasing power have increased the demand for higher-quality and more expensive furniture. As people's incomes rise, they are willing to invest more in their homes and are seeking out furniture that reflects their improved social status. Furthermore, the increasing urbanization in Gambia has led to smaller living spaces, which has created a need for compact and multifunctional kitchen and dining furniture. The Kitchen & Dining Furniture market in Gambia is also influenced by underlying macroeconomic factors. The country's stable economic growth and rising disposable incomes have provided consumers with more purchasing power, allowing them to spend more on furniture. Additionally, the government's efforts to promote the tourism industry have led to an increase in the number of hotels and restaurants in the country. This has created a demand for commercial kitchen and dining furniture, further boosting the market. Overall, the Kitchen & Dining Furniture market in Gambia is experiencing growth due to changing customer preferences, local special circumstances, and

Underlying macroeconomic factors:. As consumers in the country become more design-conscious and have higher purchasing power, the demand for modern and stylish kitchen and dining furniture is expected to continue to rise. Manufacturers and retailers in the market should focus on meeting these evolving customer needs and capitalizing on the opportunities presented by the growing market.

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.