Saudi Arabia Home Furniture Market 2023-2028: Share, Size, Industry Analysis, Growth Drivers, Innovation, and Future Outlook

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MarkNtel Advisors recently released a research report focusing on the Saudi Arabia Home Furniture Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.

Saudi Arabia Home Furniture Market Insight and Analysis:

The Saudi Arabia Home Furniture market is projected to grow at a CAGR of around 7.4% during the forecast period, i.e., 2023-2028.

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Saudi Arabia Home Furniture Industry Segmentation:

By Type of Furniture

-Bedroom Furniture- Market Size & Forecast 2018-2028F, USD Million

-Bed– Market Size & Forecast 2018-2028F, USD Million

-Low End— Market Size & Forecast 2018-2028F, USD Million

-Mid Segment— Market Size & Forecast 2018-2028F, USD Million

-High End— Market Size & Forecast 2018-2028F, USD Million

-Others (Side-table, Closets & Cabinets, etc.) — Market Size & Forecast 2018-2028F, USD Million

-Living Room Furniture- Market Size & Forecast 2018-2028F, USD Million

-Seats– Market Size & Forecast 2018-2028F, USD Million

-Sofas– Market Size & Forecast 2018-2028F, USD Million

-Low End— Market Size & Forecast 2018-2028F, USD Million

-Mid Segment— Market Size & Forecast 2018-2028F, USD Million

-High End— Market Size & Forecast 2018-2028F, USD Million

-Others (Dining table, Cabinets, TV & other storage units, etc.) — Market Size & Forecast 2018-2028F, USD Million

By Sales Channel

-Offline- Market Size & Forecast 2018-2028F, USD Million

-Online- Market Size & Forecast 2018-2028F, USD Million

By Material Type

-Wood- Market Size & Forecast 2018-2028F, USD Million

-Metal- Market Size & Forecast 2018-2028F, USD Million

-Glass- Market Size & Forecast 2018-2028F, USD Million

-Plastic- Market Size & Forecast 2018-2028F, USD Million

-Others (Rattan/Wicker, Upholstery, etc.)- Market Size & Forecast 2018-2028F, USD Million

Saudi Arabia Home Furniture Market (2023-28): Segmentation Analysis

The Saudi Arabia Home Furniture Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the level. In accordance to the analysis, the market has been further classified as:

Based on the Type of Furniture:

  • Bedroom Furniture
    • Bed
      • Low End
      • Mid Segment
      • High End
    • Others (Side-table, Closets & Cabinets, etc.)
  • Living Room Furniture
    • Seats
    • Sofas
      • Low End
      • Mid Segment
      • High End
    • Others (Dining table, Cabinets, TV & other storage units, etc.)

Bedroom Furniture sales increased significantly in the Saudi Arabian Home Furniture market due to the growing number of residential buildings. The rising population & surge in expatriates in Saudi Arabia have been the prime factors for the increasing number of residential buildings & apartments in the region. Moreover, consumers have been spending extensively on the purchase of beds based on their comfort & attractiveness.

The high-income consumers in Saudi Arabia have been opting for luxurious & high-end type beds like furniture designed & made in France, Italy, and Spain. Whereas individuals with relatively less income have tended towards mid-segment & low-end type beds offered by China & Turkey. Furthermore, with the launch of various projects for the expansion of residential projects, such as the construction of buildings, townships, etc., in the region, the demand for bedroom furniture is anticipated to rise in the forecast years.

Based on Sales Channel:

  • Offline
  • Online

Here, Offline stores acquired a significant share in the Saudi Arabia Home Furniture market, historically, owing to the inclination of the residents to get assured of the quality of furniture & check if that meets their residential space requirements. Therefore, the online segment contributed to a marginal share in the Home Furniture market, with the demand majorly accumulated from chairs, side tables, etc., that were of comparatively lower cost.

However, the imposition of lockdown restrictions in 2020 to curb the spread of coronavirus declined domestic travel activities, which decreased the demand for furniture from retail outlets, specialty stores, etc., in the country. This scenario accelerated the supply of furniture from online retailers, resulting in benefits such as attractive discounts, doorstep delivery, and secure payment gateways.

 Geographical overview:

-Central

-East

-West

-South.

The Saudi Arabia Home Furniture Market Trend:

Rising Adoption of Multifunctional Furniture – An emerging trend of adopting multifunctional furniture in homes has been observed in the country, owing to the aesthetic enhancements of bedrooms & living rooms. Furthermore, there are numerous advantages of using multifunctional furniture, such as beds that can be converted into cupboards, wardrobes, etc., when not in use, and sofas that can be molded into bunk beds, etc. Thus, such innovative features in home furniture have attracted customers to purchase multifunctional furniture for their homes.

In addition, the exceptional demand for such furniture in Saudi Arabia has led to offline & online stores keeping them in stock to fulfill consumer needs. Moreover, some prominent online & offline stores that offer multifunctional furniture in Saudi Arabia are Bakri Furniture, UBUY, Home Centre, etc. Hence, the diversified usefulness of multifunctional furniture would attract more customers to purchase them for their homes in the coming years.

Top Leading key players of Saudi Arabia Home Furniture Market

A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including 

-B&B Italia

-Natuzzi

-Kare Design

-Ashley Furniture Industries Inc

-ID Design

-Wayfair

-Saudi Modern Factory Company

-IKEA

-Oppein Home Group

-Williams-Sonoma.

The Saudi Arabia Home Furniture Market report addresses the following concern:

  1. The Saudi Arabia Home Furniture Market report explores the influence of key trends on market share within the primary segments.
  2. What are the leading market trends that propel the expansion of the Saudi Arabia Home Furniture market?
  3. What are the projected CAGR, market size, and growth rate for the Saudi Arabia Home Furniture Market in the upcoming years?
  4. What are the key players in the Saudi Arabia Home Furniture market, and what strategies are they implementing?
  5. What factors, such as industry trends, drivers, and challenges, are contributing to the growth of the Saudi Arabia Home Furniture market?

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