Living Room Furniture - Israel

Israel

In 2024, the Living Room Furniture market in Israel is projected to generate a revenue of €0.84bn.
According to market forecasts, this segment is expected to grow at an annual rate of 1.84% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads the pack with a revenue of €67,070m in 2024.
In terms of per capita revenue, in Israel is estimated to generate €90.16 per person in 2024.
The demand for high-quality, modern living room furniture in Israel has seen a significant rise in recent years, reflecting the country's growing preference for sleek and contemporary designs.

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

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Analyst Opinion

The Living Room Furniture market in Israel has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and functional furniture options, driving the demand for innovative and stylish living room furniture. Additionally, local special circumstances such as the growing urbanization and increasing disposable incomes have contributed to the expansion of the market.

Customer preferences: in the Living Room Furniture market in Israel have been influenced by global trends towards minimalistic and contemporary designs. Consumers are looking for furniture that not only serves its functional purpose but also adds aesthetic value to their living spaces. As a result, there is a growing demand for sleek and multifunctional furniture pieces that can maximize the use of limited space in urban homes. Additionally, eco-friendly and sustainable materials are gaining popularity among environmentally conscious consumers, further driving the demand for furniture made from recycled or organic materials. Trends in the market indicate a shift towards online shopping for living room furniture in Israel. With the increasing availability of e-commerce platforms and the convenience of online shopping, consumers are opting for the ease of browsing and purchasing furniture online. Online retailers are capitalizing on this trend by offering a wide variety of products, competitive prices, and hassle-free delivery options. This has led to increased competition among both traditional brick-and-mortar stores and online retailers, driving innovation and improving the overall customer experience.

Local special circumstances: in Israel, such as the growing urbanization and smaller living spaces, have also contributed to the development of the Living Room Furniture market. As more people move to urban areas, the demand for compact and space-saving furniture has increased. Manufacturers and retailers are responding to this demand by offering modular furniture options that can be easily customized and adapted to fit different living spaces. Additionally, the rising disposable incomes in Israel have allowed consumers to invest in higher-quality and more expensive furniture pieces, driving the growth of the market. Underlying macroeconomic factors, such as the stable economic growth and low unemployment rate in Israel, have provided a favorable environment for the Living Room Furniture market to thrive. The strong economy has increased consumer confidence and purchasing power, leading to higher spending on home furnishings. Furthermore, the government's initiatives to promote housing construction and renovation projects have also contributed to the growth of the market, as homeowners invest in new furniture to furnish their newly built or renovated homes. In conclusion, the Living Room Furniture market in Israel is experiencing growth due to customer preferences for modern and functional furniture, the shift towards online shopping, local special circumstances such as urbanization and increasing disposable incomes, and

Underlying macroeconomic factors: including stable economic growth and government initiatives. This market is expected to continue expanding as consumers prioritize creating stylish and comfortable living spaces.

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.