Latin America Furniture Market Introduction and Overview
According to SPER Market Research, the Latin America Furniture Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Latin America Furniture Market, including market size and trends, product mix, distribution channels, and supplier analysis. It's well accepted that furniture is a basic requirement for homes and offices and that it plays a significant role in improving people's comfort levels and overall living efficiency. Furthermore, the sophisticated look that furniture gives a space is evolving into a style element and driving up demand for modern and distinctive furniture. Beds, desks, chairs, tables, and cupboards are a few examples of these. In the furniture industry, a variety of materials are employed, including plastic, wood, metal, etc.
- Due to the epidemic, the Santos Andira Furniture brand made its first online purchase in 2021, opening up a crucial new market for the largest retailers in Brazil out of hundreds of enterprises. Retailers are modifying their approaches and exploring mergers and acquisitions (M&A) to facilitate the shift of novice consumers to online buying. With the assistance of Via Varejo salespeople, Santos completed five more online purchases in four months, earning commissions for the store's agents.
Market Opportunities and Challenges
Opportunities: The growing need for both household and commercial furniture was driving the furniture market in Latin America to continuously expand. In the last several years, the market has experienced a number of recent developments. For example, because buying things online is so popular, the furniture sector in Latin America is moving toward e-commerce. This trend was further increased over time by the pandemic as more individuals resorted to digital as a means of preventing infection. Custom furniture is something that many furniture firms offer to meet the unique needs and tastes of their customers. Furthermore, Latin America is seeing an increase in demand for environmentally friendly and sustainable furniture. As consumers become more aware of how their choices affect the environment, they are choosing furniture made of recycled plastic or bamboo. These factors present a plenty of opportunities for the expansion of furniture market in latin America.
Challenges: Market expansion will be restricted by the growing demand for secondhand products. The middle class now prefers to purchase affordable goods over ostentatious ones when it comes to home furnishings. This is expected to impede market expansion. Major firms' ability to expand their businesses is also being hindered by intense competition from uncoordinated significant players in different parts of the world. The industry's expansion is expected to be hampered by fluctuating raw material prices as well as different import and customs taxes on fixture products in many different nations.
Market Competitive Landscape
The Latin American furniture market is extremely competitive and highly fragmented, spanning several nations such as Brazil, Columbia, and Peru. These players dominate the market and have gained significant market share through mergers and acquisitions. Peru leads the market for traditional furniture designs, which has further strengthened the competitiveness of the Latin American kitchen furniture market. Global companies and their names, including Eastvold Furniture and IKEA, are well-known and dominate the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Material Types, By Application
|
| Regions covered | Brazil, Peru, Columbia, Rest of Latin America
|
| Companies Covered | Arteqiri, Ashley Furniture, Dalla Costa, Fontenla, IKEA, LineaBrasil, Politorno, Santos Andira, Techni Mobili, Others. |
COVID-19 Impact on Latin America Furniture Market
The furniture sector has been severely impacted by COVID-19. Countries' economic downturns are to blame for the furniture industry's collapse. Furniture companies must create a strong supply chain response strategy to reduce risk and are ready for any disruptions. In Latin America, Mexico and Brazil are the two most powerful nations. Spanish furniture producers have Mexico as their first choice. Due to reasons including increased domestic market share and international trade, Brazil's furniture sector has changed over time.
Key Target Audience:
- Homeowners
- Renters
- Newlyweds
- Young Professionals
- Parents
- Interior Designers
- Commercial Sector
Our in-depth analysis of the Latin America Furniture Market includes the following segments:
|
By Material Types: |
Plastic
Wood
Metal
Others
|
|
By Application: |
Residential
Commercial
|
|
By Region: |
Brazil
Peru
Columbia
Rest of Latin America
|
Key Topics Covered in the Report:
- Latin America Furniture Market Size (FY’2024-FY’2033)
- Overview of Latin America Furniture Market
- Segmentation of Latin America Furniture Market By Material Types (Plastic, Wood, Metal, Others)
- Segmentation of Latin America Furniture Market By Application (Residential, Commercial)
- Expansion Analysis of Latin America Furniture Market
- Problems and Obstacles in Latin America Furniture Market
- Competitive Landscape in the Latin America Furniture Market
- Impact of COVID-19 and Demonetization on Latin America Furniture Market
- Details on Current Investment in Latin America Furniture Market
- Competitive Analysis of Latin America Furniture Market
- Prominent Players in the Latin America Furniture Market
- SWOT Analysis of Latin America Furniture Market
- Latin America Furniture Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Latin America Furniture Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Latin America Furniture Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Latin America Furniture Market
7. Latin America Furniture Market, By Material Types (USD Million)
7.1. Latin America Furniture Market Value Share and Forecast, By Type, 2024-2033
7.2. Plastic
7.3. Wood
7.4. Metal
7.5. Others
8. Latin America Furniture Market, By Application (USD Million)
8.1. Latin America Furniture Market Value Share and Forecast, By Application, 2024-2033
8.2. Residential
8.3. Commercial
9. Latin America Furniture Market Forecast, 2020-2033 (USD Million)
9.1. Latin America Furniture Market Size and Market Share
10. Latin America Furniture Market, By Material Types, 2020-2033 (USD Million)
10.1. Latin America Furniture Market Size and Market Share By Material Types (2020-2026)
10.2. Latin America Furniture Market Size and Market Share By Material Types (2027-2033)
11. Latin America Furniture Market, By Application, 2020-2033 (USD Million)
11.1. Latin America Furniture Market Size and Market Share By Application (2020-2026)
11.2. Latin America Furniture Market Size and Market Share By Application (2027-2033)
12. Latin America Furniture Market, By Region, 2020-2033 (USD Million)
12.1. Latin America Furniture Market Size and Market Share By Region (2020-2026)
12.2. Latin America Furniture Market Size and Market Share By Region (2027-2033)
12.3. Brazil
12.4. Peru
12.5. Columbia
12.6. Rest of Latin America
13. Company Profile
13.1. Arteqiri
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Ashley Furniture
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Dalla Costa
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Fontenla
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. IKEA
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. LineaBrasil
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Politorno
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Santos Andira
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Techni Mobili
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
