Saudi Arabia Furniture Market Introduction and Overview
According to SPER Market Research, the Saudi Arabia Furniture Market is estimated to reach USD 14.6 billion by 2033 with a CAGR of 7.44%.
The report includes an in-depth analysis of the Saudi Arabia Furniture Market, including market size and trends, product mix, distribution channels, and supplier analysis. Furniture is regarded as a basic need for homes and workplaces, as well as an important component that makes people's lives more efficient and comfortable while also providing them with comfort. In addition, the stylish appearance that furniture provides a room is turning into a fashionable feature and increasing the demand for unique and contemporary furniture. These can include, among other things, beds, desks, chairs, tables, and cabinets. Various materials, such as plastic, wood, metal, etc., are used in the furniture industry.
- November 2022: King Abdulaziz Street in the Buraydah nearby of Saudi Arabia will host the grand opening of Daze, a prominent furniture supplier in Lebanon and the KSA. The launch of the store demonstrates Daze's dedication to serving its customers with a rapidly growing network of locations and distinctive, contemporary designs.
- The first undisclosed funding seed round led by Khwarizmi Ventures (KV) and including angel investors has closed, according to Saudi Arabia-based online furniture marketplace Baytonia. The latest funding will be used by Baytonia's platform to grow its exceptional customer experience and service as well as its portfolio of premium products throughout Saudi Arabia.
Market Opportunities and Challenges
Opportunities: Numerous factors, including rising disposable incomes, the expansion of the real estate and hospitality sectors, and the desire of specific consumer segments for high-end, luxurious furniture, are propelling the market. Furthermore, the emergence of novel wood tree species for furniture production and online marketing are some of the elements anticipated to support the market's expansion. Furthermore, Due to consumer interest in furniture and home décor, the number of residential apartments in Saudi Arabia as well as the development of new infrastructure are projected to increase demand for home furnishings. With a revenue share of over 19% and consistent growth over time, bedroom furniture is an important factor to Saudi Arabia's furniture market.
Challenges: There are several challenges that the Saudi Arabian furniture market must overcome to continue growing and developing. The reliance on oil revenue is one major challenge. Since oil is a major component of Saudi Arabia's economy, changes in oil prices may have an impact on people's ability to make purchases, which could result in a drop in furniture sales. The cultural and religious aspects of furniture design and manufacture present another difficulty. The strict Islamic principles upheld in Saudi Arabia have an impact on the kinds of furniture that are acceptable in the market. The heat also presents a problem because some materials and designs might not be appropriate for the temperature.
Market Competitive Landscape
The home furniture market is fragmented due to a large number of manufacturers, as measured by market share. By gaining new contracts and entering new markets, mid-size to smaller businesses are expanding their market presence thanks to product innovation and technological advancement. Saudi Modern Factory, Riyadh Furniture Industries Co., Al-Abdulkader Furniture Co. Ltd., AL Juraid, and Distretto Design are a few of the companies currently operating in the Saudi Arabian home furniture market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Distribution Channel
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| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
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| Companies Covered | Al Aamer Furniture Co Ltd, AL Juraid, Al-Abdulkader Furniture Co. Ltd., Almutlaq Furniture, Ashley Furniture Industries Inc., Distretto Design, Inter IKEA Group, Midas Furniture, Riyadh Furniture Industry, Saudi Modern Factory
|
COVID-19 Impact on Saudi Arabia Furniture Market
The arrival of COVID-19 had an adverse effect on the furniture market's retail offline sales. During the period, there was a rise in online revenue sales of furniture as more retailers began to offer their products online and more consumers began to make purchases through electronic commerce. Since Amazon dominates the Saudi Arabian market in terms of brand share, furniture from well-known companies like Costco, Easy Home, Target, and others can be purchased online.
Key Target Audience:
- Homeowners
- Renters
- Newlyweds
- Young Professionals
- Parents
- Interior Designers
- Commercial Sector
Our in-depth analysis of the Saudi Arabia Furniture Market includes the following segments:
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By Type: |
Living Room Furniture
Dining Room Furniture
Bedroom Furniture
Kitchen Furniture
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By Distribution Channel: |
Home Centers
Flagship Stores
Specialty Stores
Online
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By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report:
- Saudi Arabia Furniture Market Size (FY’2023-FY’2033)
- Overview of Saudi Arabia Furniture Market
- Segmentation of Saudi Arabia Furniture Market By Type (Living Room Furniture, Dining Room Furniture, Bedroom Furniture, Kitchen Furniture, Others)
- Segmentation of Saudi Arabia Furniture Market By Distribution Channel (Home Centers, Flagship Stores, Specialty Stores, Online, Others)
- Expansion Analysis of Saudi Arabia Furniture Market
- Problems and Obstacles in Saudi Arabia Furniture Market
- Competitive Landscape in the Saudi Arabia Furniture Market
- Impact of COVID-19 and Demonetization on Saudi Arabia Furniture Market
- Details on Current Investment in Saudi Arabia Furniture Market
- Competitive Analysis of Saudi Arabia Furniture Market
- Prominent Players in the Saudi Arabia Furniture Market
- SWOT Analysis of Saudi Arabia Furniture Market
- Saudi Arabia Furniture Market Future Outlook and Projections (FY’2023-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 Saudi Arabia 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. Saudi Arabia Furniture Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Furniture Market
7. Saudi Arabia Furniture Market, By Type (USD Million)
7.1. Saudi Arabia Furniture Market Value Share and Forecast, By Type, 2023-2033
7.2. Living Room Furniture
7.3. Dining Room Furniture
7.4. Bedroom Furniture
7.5. Kitchen Furniture
7.6. Others
8. Saudi Arabia Furniture Market, By Distribution Channel (USD Million)
8.1. Saudi Arabia Furniture Market Value Share and Forecast, By Distribution Channel, 2023-2033
8.2. Home Centers
8.3. Flagship Stores
8.4. Specialty Stores
8.5. Online
8.6. Others
9. Saudi Arabia Furniture Market Forecast, 2019-2033 (USD Million)
9.1. Saudi Arabia Furniture Market Size and Market Share
10. Saudi Arabia Furniture Market, By Type, 2019-2033 (USD Million)
10.1. Saudi Arabia Furniture Market Size and Market Share By Type (2019-2026)
10.2. Saudi Arabia Furniture Market Size and Market Share By Type (2027-2033)
11. Saudi Arabia Furniture Market, By Distribution Channel, 2019-2033 (USD Million)
11.1. Saudi Arabia Furniture Market Size and Market Share By Distribution Channel (2019-2026)
11.2. Saudi Arabia Furniture Market Size and Market Share By Distribution Channel (2027-2033)
12. Saudi Arabia Furniture Market, By Region, 2019-2033 (USD Million)
12.1. Saudi Arabia Furniture Market Size and Market Share By Region (2019-2026)
12.2. Saudi Arabia Furniture Market Size and Market Share By Region (2027-2033)
12.3. Eastern Region
12.4. Western Region
12.5. Southern Region
12.6. Northern Region
13. Company Profile
13.1. Al Aamer Furniture Co Ltd.
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. AL Juraid
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Al-Abdulkader Furniture Co. Ltd.
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Almutlaq Furniture
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Ashley Furniture Industries Inc.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Distretto Design
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Inter IKEA Group
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Midas Furniture
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Riyadh Furniture Industry
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Saudi Modern Factory
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
14. Reference Links
15. Conclusion
16. 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.
