Living Room Furniture - Morocco

Morocco

In Morocco, the revenue in the Living Room Furniture market reaches €152.60m in 2024.
It is anticipated that the market will experience an annual growth rate of 0.56% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue, amounting to €67,070m in 2024.
Looking at the per capita perspective, the revenue per person in Morocco amounts to €3.99 in 2024.
Moroccan consumers are increasingly opting for traditional and handcrafted living room furniture, reflecting a growing appreciation for their cultural heritage and craftsmanship.

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

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Analyst Opinion

The Living Room Furniture market in Morocco has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Living Room Furniture market in Morocco have shifted towards more modern and contemporary designs. Moroccan consumers are increasingly looking for furniture that is not only functional but also aesthetically pleasing and in line with current design trends. This shift in preferences can be attributed to the influence of global design trends and the increasing exposure to international furniture brands through the internet and social media.

Trends in the market: indicate a growing demand for multifunctional furniture in Morocco. With limited living spaces in urban areas, Moroccan consumers are seeking furniture that can serve multiple purposes, such as sofa beds or storage ottomans. This trend is driven by the need for space optimization and practicality in smaller living spaces. Another emerging trend in the Living Room Furniture market in Morocco is the growing popularity of eco-friendly and sustainable furniture. Moroccan consumers are becoming more conscious of the environmental impact of their purchases and are actively seeking furniture made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is in line with the global shift towards sustainability and reflects the increasing importance of environmental considerations in purchasing decisions.

Local special circumstances: in Morocco also contribute to the development of the Living Room Furniture market. The country's growing middle class and increasing disposable income levels have resulted in higher consumer spending on furniture. Additionally, the government's efforts to promote the real estate sector and urban development have led to a rise in housing construction and renovation projects, further driving the demand for living room furniture.

Underlying macroeconomic factors: play a significant role in the development of the Living Room Furniture market in Morocco. The country's stable economic growth, favorable demographic trends, and increasing urbanization rate contribute to the rising demand for furniture. Furthermore, the government's initiatives to attract foreign investment and promote tourism have led to an influx of international visitors, creating opportunities for the Living Room Furniture market to cater to the needs of both domestic and international customers. In conclusion, the Living Room Furniture market in Morocco is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards modern and contemporary designs, the demand for multifunctional and eco-friendly furniture, the country's growing middle class and urban development, as well as stable economic growth and favorable demographic trends, all contribute to the positive development of the 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.