Furniture - South America

South America

In 2024, the Furniture market in South America is projected to generate a revenue of €28.68bn.
This market is expected to experience an annual growth rate of 3.98% (CAGR 2024-2029).
The largest segment within this market is the Living Room Furniture segment, which is estimated to have a market volume of €10.35bn in 2024.
When compared globally, in the United States leads in terms of revenue generation, with an estimated revenue of €245bn in 2024.
In the context of South America's population, the per person revenues in 2024 are projected to be €69.43.
In Brazil, the furniture market is experiencing a growing demand for sustainable and eco-friendly products.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

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Analyst Opinion

The Furniture market in South America has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: in the South American Furniture market have shifted towards more modern and contemporary designs. Customers are increasingly seeking furniture that is not only functional but also aesthetically pleasing and in line with the latest design trends. This shift in preferences has led to an increase in demand for furniture with sleek lines, minimalist designs, and innovative materials. Additionally, customers are also placing a greater emphasis on sustainability and eco-friendly materials, driving the demand for furniture made from renewable resources and recycled materials. Trends in the South American Furniture market reflect the global market trends, with a growing demand for online sales and customization options. Online sales have become increasingly popular due to the convenience and ease of browsing and purchasing furniture from the comfort of one's home. This trend has been further accelerated by the covid-19 pandemic, which has led to an increase in online shopping across all industries. Additionally, customers are seeking furniture that can be customized to their specific needs and preferences, allowing them to create unique and personalized living spaces.

Local special circumstances: in South America, such as a growing middle class and urbanization, have also contributed to the growth of the Furniture market. As the middle class expands, more people have disposable income to spend on furniture, leading to increased demand. Furthermore, urbanization has resulted in smaller living spaces, driving the need for compact and multifunctional furniture that can maximize space utilization. Underlying macroeconomic factors have also played a role in the development of the South American Furniture market. Economic stability and favorable government policies have created a conducive environment for businesses to thrive and expand. Additionally, increased investments in infrastructure and real estate development have contributed to the growth of the furniture market, as new homes and commercial spaces require furniture to be furnished. In conclusion, the Furniture market in South America is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. As customers seek more modern and contemporary designs, online sales and customization options have become increasingly popular. The growing middle class, urbanization, and favorable macroeconomic factors have also contributed to the market's development.

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.