GCC Furniture Market

Market Overview:

The GCC Furniture Market is expected to exhibit a growth rate (CAGR) of 8.1% during 2023-2028. The increasing demand for furniture due to rapid urbanization, rising disposable income, and increasing construction activities, the growing popularity of tourism, the expansion of the hospitality sector, and the widespread adoption of e-commerce and digitization represent some of the key factors driving the market.

Furniture refers to movable objects that are designed to support various human activities within living spaces, work environments, and public areas. It includes items such as chairs, tables, sofas, beds, cabinets, shelves, and desks that serve functional and aesthetic purposes, enhancing the comfort, usability, and visual appeal of a space. Aesthetically, furniture is essential in interior design, reflecting personal styles and preferences. It can be produced from various materials, including wood, metal, plastic, or upholstery, and it comes in diverse styles, colors, and shapes. Furniture choices can transform the ambiance of a room, creating a specific atmosphere or conveying a particular theme. Additionally, furniture has evolved with changing architectural styles, cultural influences, and technological advancements. From ancient civilizations to modern times, furniture has remained an integral part of human living spaces. It combines practicality and creativity, improving our quality of life by offering comfortable, functional, and visually pleasing solutions for our daily activities and needs.

GCC Furniture Market Trends:

The market is primarily driven by significant urbanization and population growth over the years. As cities expand and new residential and commercial spaces are developed, the demand for furniture increases. In addition, the growing construction activities, large-scale construction projects, and infrastructure developments are contributing to the market growth. In line with this, increasing disposable income levels, led consumers to have more purchasing power for furniture and home decor, escalating the demand for premium and luxury furniture products in the region. Moreover, the widespread adoption of furniture in the expanding hospitality sector, including hotels, resorts, and serviced apartments represents another major growth-inducing factor. Besides this, an increasing shift toward modern and contemporary styles furniture designs among cconsumers opting for sleek, minimalist designs which is accelerating the product demand. This shift is driven by the younger population, who are more influenced by international design aesthetics. Along with this, consumers are increasingly concerned about the environmental impact of their purchases and are seeking eco-friendly and sustainable furniture options led to the emergence of companies offering furniture manufactured from recycled materials or utilizing sustainable production processes propelling the market growth. Apart from this, the expanding e-commerce and digital platforms and the availability of online channels to purchase furniture, facilitated by the convenience of browsing and ordering from the comfort of individuals homes are creating a positive market outlook across the region.

GCC Furniture Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the GCC furniture market report, along with forecasts at the regional and country levels for 2023-2028. Our report has categorized the market based on material, distribution channel, and end use.

Material Insights:

• Metal
• Wood
• Plastic
• Glass
• Others
   

The report has provided a detailed breakup and analysis of the market based on the material. This includes metal, wood, plastic, glass, and others.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Specialty stores
• Online stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes supermarkets and hypermarkets, specialty stores, online stores, and others.

End Use Insights:

• Residential
• Commercial
   

A detailed breakup and analysis of the market based on the end use has also been provided in the report. This includes residential and commercial.

Country Insights:

• Saudi Arabia
• UAE
• Qatar
• Bahrain
• Kuwait
• Oman
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Bahrain.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

GCC Furniture Market Report Coverage:

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC furniture market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the GCC furniture market?
• What is the breakup of the GCC furniture market on the basis of material?
• What is the breakup of the GCC furniture market on the basis of distribution channel?
• What is the breakup of the GCC furniture market on the basis of end use?
• What are the various stages in the value chain of the GCC furniture market?
• What are the key driving factors and challenges in the GCC furniture market?
• What is the structure of the GCC furniture market and who are the key players?
• What is the degree of competition in the GCC furniture market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the GCC furniture market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the GCC furniture market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the GCC furniture industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.