Living Room Furniture - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the revenue in the Living Room Furniture market reaches €2.48bn in 2024.
It is projected to experience an annual growth rate of 0.79% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads with a revenue of €67,070m in 2024.
Considering the population size, the per person revenue in Saudi Arabia for 2024 amounts to €66.26.
The popularity of traditional Arabic-style living room furniture is on the rise in Saudi Arabia, reflecting a cultural preference for rich, ornate designs.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Living Room Furniture market in Saudi Arabia is experiencing significant growth and development due to several factors. Customer preferences for high-quality and stylish furniture, along with the increasing disposable income of consumers, are driving the demand for living room furniture in the country. Additionally, local special circumstances such as cultural norms and the growth of urbanization are also contributing to the market's expansion.

Customer preferences: in Saudi Arabia are shifting towards modern and contemporary living room furniture designs. Consumers are increasingly looking for furniture that is not only functional but also aesthetically pleasing. This trend is driven by the desire to create stylish and comfortable living spaces that reflect their personal taste and lifestyle. As a result, there is a growing demand for furniture with sleek designs, clean lines, and innovative features. Another factor driving the growth of the Living Room Furniture market in Saudi Arabia is the increasing disposable income of consumers. As the economy continues to grow and diversify, more individuals and households have higher purchasing power. This allows them to invest in higher quality and more expensive living room furniture. Consumers are willing to spend more on furniture that offers durability, comfort, and long-term value. In addition to customer preferences,

Local special circumstances: in Saudi Arabia also contribute to the development of the Living Room Furniture market. The country has a rich cultural heritage, and traditional furniture designs still hold significance for many consumers. This has led to a demand for furniture that combines modern aesthetics with traditional elements, creating a unique blend of styles. Furthermore, the growth of urbanization in Saudi Arabia has increased the demand for living room furniture. As more people move to cities and urban areas, there is a greater need for furniture that maximizes space and offers functionality. Compact and multi-functional furniture designs are becoming increasingly popular, as they allow consumers to make the most of limited living spaces. Underlying macroeconomic factors also play a role in the development of the Living Room Furniture market in Saudi Arabia. The country's strong economy and stable political environment provide a favorable business climate for furniture manufacturers and retailers. Additionally, the government's initiatives to promote the non-oil sectors of the economy, such as tourism and entertainment, are attracting more visitors and expatriates to the country. This increased population and tourism are driving the demand for living room furniture. In conclusion, the Living Room Furniture market in Saudi Arabia is experiencing growth and development due to customer preferences for high-quality and stylish furniture, increasing disposable income, local special circumstances, and

Underlying macroeconomic factors:. As the market continues to evolve, furniture manufacturers and retailers need to stay updated with the latest trends and cater to the changing needs and preferences of consumers.

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.