The Saudi Arabia Home Furniture Market size is projected to grow at a CAGR of around 7.4% during the forecast period, i.e., 2024-30. According to MarkNtel Advisors Study.
Saudi Arabia Home Furniture Market Driver:
Expansion in the Residential Sector to Impel the Furniture Demand – The increasing real estate development projects as well as the growing demand for residential property in Saudi Arabia has infused the growth of home furniture in the country. Moreover, the government of Saudi Arabia has taken several initiatives, such as the Housing Program Vision 2030, the Sakani Program, and the Ministry of Housing Infrastructure Program, which has heightened the establishment of new residential units in the country.
Further, the burgeoning investments for developing socio-economic infrastructure by the Ministry of Housing in the country have driven the demand for home furniture. In 2018, the Saudi Arabia government launched the ‘Housing Program’ to create a vibrant environment for families & society. The program was initiated to set up new standards for the development of the residential sectors to provide affordable housing options to the citizens of Saudi Arabia.
Thus, the rising expansion of the residential sector has eased the population to purchase property, which, in turn, has boosted the demand for home furniture in Saudi Arabia.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Saudi Arabia Home Furniture Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type of Furniture
- Bedroom Furniture- Market Size & Forecast 2019-2030F, USD Million
- Bed– Market Size & Forecast 2019-2030F, USD Million
- Low End— Market Size & Forecast 2019-2030F, USD Million
- Mid Segment— Market Size & Forecast 2019-2030F, USD Million
- High End— Market Size & Forecast 2019-2030F, USD Million
- Others (Side-table, Closets & Cabinets, etc.) — Market Size & Forecast 2019-2030F, USD Million
- Bed– Market Size & Forecast 2019-2030F, USD Million
- Living Room Furniture- Market Size & Forecast 2019-2030F, USD Million
- Seats– Market Size & Forecast 2019-2030F, USD Million
- Sofas– Market Size & Forecast 2019-2030F, USD Million
- Low End— Market Size & Forecast 2019-2030F, USD Million
- Mid Segment— Market Size & Forecast 2019-2030F, USD Million
- High End— Market Size & Forecast 2019-2030F, USD Million
- Others (Dining table, Cabinets, TV & other storage units, etc.) — Market Size & Forecast 2019-2030F, USD Million
- Bedroom Furniture- Market Size & Forecast 2019-2030F, USD Million
- By Sales Channel
- Offline- Market Size & Forecast 2019-2030F, USD Million
- Online- Market Size & Forecast 2019-2030F, USD Million
- By Material Type
- Wood- Market Size & Forecast 2019-2030F, USD Million
- Metal- Market Size & Forecast 2019-2030F, USD Million
- Glass- Market Size & Forecast 2019-2030F, USD Million
- Plastic- Market Size & Forecast 2019-2030F, USD Million
- Others (Rattan/Wicker, Upholstery, etc.)- Market Size & Forecast 2019-2030F, USD Million
- By Region
- Central
- East
- West
- South
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – B&B Italia, Natuzzi, Kare Design, Ashley Furniture Industries Inc., ID Design, Wayfair, Saudi Modern Factory Company, IKEA, Oppein Home Group, Williams-Sonoma, Others looking forward to strengthening their market positions.
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