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

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

New York, January 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
As local manufacturers face a shortage of raw materials and parts needed to manufacture home furnishings, the demand is met by importing home furnishings. The growing interest and investment of foreign players, whether to increase their presence or to expand in different emirates, further stimulates the home furniture industry of the country. It is expected that in the future the gap between demand and supply may narrow with the expected decline in imports of home furnishings. The increasing penetration of the Internet is increasing the demand for furniture online. The role of the media has also played a central role in increasing the demand for home furnishings. Consumers get innovative new ideas on home decorating from various TV programs and magazines, which are aimed at home furnishings. Electronic commerce has played an important role in the advertising and promotion of home furnishings products across the country.

Key market trends

Bedroom furniture segment

Bedroom furniture is considered a decorative art form. The furniture included in the market segment ranges from beds with mattresses of different shapes and sizes to clothing cabinets, bedside tables and dressers. The segment has seen year-over-year growth in terms of revenue and market size. The growth of residential apartments and the increase in modern infrastructure are expected to drive demand for the home furnishings market due to customer interest in furniture and interior design.

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 are turning more to contemporary designs as they improve the overall aesthetics of the home. The living room furniture includes sofas, coffee tables, storage units, TV and media cabinets.

Competitive landscape

The report covers the major manufacturers and retailers operating in the Saudi Arabian Home Furniture market. In terms of market share, some of the major players are currently dominating the market. However, with advancements in technology and product innovation, medium to small sized companies are increasing their market presence by securing new contracts and tapping 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

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