Living Room Furniture - Australia

Australia

In Australia, the Living Room Furniture market recorded a revenue of AUD €2.77bn in 2024.
It is projected to experience an annual growth rate of 5.85% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads with a revenue of €67,770m in 2024.
In terms of per capita income, each Australian generated AUD 0.00 in revenue for the Living Room Furniture market in 2024.
Australia's living room furniture market is experiencing a surge in demand for sustainable and eco-friendly designs.

Key regions: China, Germany, Brazil, France, United States

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Analyst Opinion

The Living Room Furniture market in Australia has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: in Australia have shifted towards more modern and minimalist designs in living room furniture. Consumers are increasingly looking for furniture pieces that are sleek, functional, and space-saving. This preference for contemporary styles has driven the demand for furniture made from materials such as glass, metal, and leather. Additionally, customers are seeking furniture that is versatile and can be easily rearranged to suit their changing needs.

Trends in the market: have also played a significant role in the growth of the Living Room Furniture market in Australia. One notable trend is the rise of online shopping. With the increasing popularity of e-commerce platforms, consumers now have access to a wide range of furniture options from both local and international retailers. This has expanded the choices available to customers and made it easier for them to compare prices and find the best deals. Another trend in the market is the growing focus on sustainability. Australian consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking out furniture made from sustainable materials. This has led to an increase in the demand for furniture made from recycled or eco-friendly materials, as well as products that are certified as being environmentally friendly.

Local special circumstances: have also influenced the development of the Living Room Furniture market in Australia. The country's high population density in urban areas has resulted in smaller living spaces, which in turn has driven the demand for compact and multifunctional furniture. Additionally, australia's multicultural society has led to a diverse range of design influences, with customers seeking furniture that reflects their individual tastes and cultural backgrounds.

Underlying macroeconomic factors: have also contributed to the growth of the Living Room Furniture market in Australia. The country's strong economy and high disposable income levels have created a favorable environment for consumer spending on furniture. Additionally, low interest rates and easy access to credit have made it more affordable for consumers to purchase furniture, leading to increased demand. In conclusion, the Living Room Furniture market in Australia has experienced growth due to customer preferences for modern and minimalist designs, trends such as online shopping and sustainability, local special circumstances such as smaller living spaces and cultural diversity, and underlying macroeconomic factors including a strong economy and high disposable income levels. These factors have all contributed to the development and expansion of the market in Australia.

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.