HOME FURNITURE MARKET IN SAUDI ARABIA – Growth, Trends, Impact of COVID-19 and Forecast (2021)

0

The Saudi home furniture industry has become one of the most dynamic and fastest growing industries in the GCC region. The growing number of real estate developments and growing demand for residential properties, along with government initiatives to develop socio-economic infrastructure, are boosting the furniture industry in the country.

New York, Jan. 03, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “SAUDI ARABIA HOME FURNITURE MARKET – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https:// www.reportlinker.com/p06039503/?utm_source=GNW
Since local manufacturers are facing a shortage of raw materials and parts needed to manufacture furniture products, the demand is met by importing furniture products. Growing interest and investment from foreign players, either to increase their presence or to expand in different emirates, is further boosting the country’s home furniture industry. It is expected that in the future, the gap between supply and demand may narrow with the expected decline in the import of furniture products. The growing internet penetration is increasing the demand for furniture online. The role of the media has also played a pivotal role in increasing the demand for furniture products. Consumers are getting new and innovative ideas on home redecoration from various TV programs and magazines, which cater to home furnishings. E-commerce has played an important role in advertising and promoting furniture products across the country.

Main market trends

Bedroom furniture segment

Bedroom furniture is considered a form of decorative art. Furniture included in the market segment ranges from beds with mattresses of different shapes and sizes to wardrobes, bedside tables and chests of drawers. The segment has witnessed year-on-year growth in terms of market revenue and market size. Growth in residential apartments and increase in modern infrastructure is expected to drive the demand for the home furnishings market owing to customer interest in furniture and home decor.

Living room furniture segment

In Saudi Arabia, the demand for living room furniture is increasing due to consumers’ interest in spending more on their living room and turning more towards contemporary designs as they enhance the overall aesthetics of the home. Living room furnishings include sofas, coffee tables, cabinets, TV and media cabinets.

Competitive landscape

The report covers major manufacturers and retailers operating in the Saudi Home Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with advances in technology and product innovation, small and medium enterprises are increasing their market presence by winning new contracts and tapping into new markets.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06039503/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

__________________________

CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001
Share.

Comments are closed.