Living Room Furniture - Iran

Iran

In 2024, the Living Room Furniture market in Iran is projected to generate a revenue of €1.48bn.
The market is anticipated to experience an annual growth rate of 0.40% (CAGR 2024-2029).
When compared globally, in the United States stands as the top revenue generator in this segment, with a revenue of €67,770m in 2024.
It is noteworthy that in Iran, per person revenues of €16.52 are expected to be generated in 2024.
Iranian consumers are increasingly seeking living room furniture that combines traditional Persian design elements with modern functionality.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Living Room Furniture market in Iran is experiencing significant growth and development.

Customer preferences: Iranian consumers have shown a growing interest in modern and stylish living room furniture. They are increasingly looking for furniture pieces that are not only functional but also aesthetically pleasing. Customers are drawn to designs that incorporate clean lines, minimalist aesthetics, and neutral colors. Additionally, there is a rising demand for furniture that is durable and long-lasting, as consumers seek to invest in high-quality products that can withstand the test of time.

Trends in the market: One of the key trends in the Living Room Furniture market in Iran is the increasing popularity of online shopping. With the rise of e-commerce platforms and the convenience they offer, more and more consumers are opting to purchase their furniture online. This trend is driven by factors such as the wider variety of options available online, competitive pricing, and the ease of comparing different products and prices. Online retailers are also capitalizing on this trend by offering attractive discounts and promotions to attract customers. Another trend in the market is the growing focus on sustainability and eco-friendly materials. Iranian consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking furniture made from sustainable materials. This includes furniture made from recycled materials, as well as products that are manufactured using environmentally friendly production processes. Manufacturers and retailers are responding to this trend by offering a wider range of sustainable furniture options.

Local special circumstances: Iran has a rich cultural heritage and a strong tradition of craftsmanship. This has led to a demand for furniture that showcases traditional Iranian design elements and craftsmanship. Customers are looking for furniture pieces that reflect their cultural identity and heritage. This presents an opportunity for local artisans and manufacturers to create unique and culturally significant furniture pieces that cater to this demand.

Underlying macroeconomic factors: The Living Room Furniture market in Iran is also influenced by macroeconomic factors. The country has experienced an increase in disposable income, which has led to a higher purchasing power among consumers. This, coupled with a growing middle class, has contributed to the growth of the furniture market. Additionally, the government has implemented policies to promote domestic manufacturing and reduce reliance on imports. This has led to the growth of local furniture manufacturers, who are able to offer competitive prices and a wide range of products. In conclusion, the Living Room Furniture market in Iran is experiencing growth and development due to customer preferences for modern and stylish furniture, the increasing popularity of online shopping, the focus on sustainability, the demand for furniture that reflects cultural heritage, and the underlying macroeconomic factors such as increased disposable income and government policies.

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.