Saudi Arabia Furniture Market
Business

Saudi Arabia Furniture Market Analysis and Forecast: Ken Research

How Furniture Market Is Positioned In Saudi Arabia?

The furniture industry in the KSA is operating at a maturity stage, although the industry was adversely hit due to a recession in the real estate sector and the decline in oil prices in the recent past. The spending power of people of Saudi Arabia has been changing over the past few years where they have been spending a higher proportion of their disposable income on furniture year on year. The market revenue was observed to increase at a positive double-digit CAGR during the review period of 5 years from 2013 to 2018. Also, the demand for luxury furniture has increased in the Kingdom of Saudi Arabia as it is perceived as an indication of wealth and social status. The preference for multi-utilitarian furniture has also been increasing due to the benefits of less space requirement and multi-usage purposes offered by multi-utilitarian furniture. The furniture sector in KSA was positively influenced by the continuous development of new housing units coupled with a rise in the young and growing population base of the country. Lastly, furniture has recently made their way through online retailing. However, in recent years, many retailers such as Home center and IKEA launched online stores.

This increase in market revenue is credited to the growth of furniture manufactures and retail outlets. Additionally, urbanization and development of the KSA economy generated a demand for furniture from residential areas, hotels, office and industrial sectors during this period. Along with the entry of a number of real estate developers and increasing demand for residential properties, the housing industry in KSA has witnessed tremendous growth in the past. This has infused growth in the furniture market. The booming economy, government support and young population base, have created a strong platform for the furniture industry to grow to new horizons. As of 2018, there is approximate ~ furniture manufacturing factories in Saudi Arabia.

Saudi Arabia Furniture Market Segmentation

By Market Structure (Organized and Unorganized Segment): The organized sector dominated the market revenues as retailers operating under this segment deal in high quality and designer products manufactured from MDF or solid wood during the year 2018. The unorganized segment, on the other hand, captured the remaining market share in terms of market revenue during the year 2018. The unorganized players rely majorly on the price of the material whereby they tend to compromise with the quality of the product. Also, unorganized players procure raw material and labor locally. However, organized players often get furniture and furnishings imported.

By Material (Wood, Glass, Metal, Plastic and Others): Wood has been observed as the most used material for furniture in Saudi Arabia along with a dominant market share to the overall market revenue in the year 2018. The heightened preference of people for wood is due to properties of wood i.e. wood is sturdy, longer durability, and represents the class.

The only reason why few people do not prefer wood is due to the fact that wood is expensive as compared to all other materials. The remaining market share was collectively captured by glass, metal, plastic and other segments during the year 2018.

By End Users (Residential, Hospitality, and Commercial): The revenues accrued from the sale of residential furniture dominated the Saudi Arabia furniture market revenues in 2018. Also, bedroom furniture amongst residential furniture generated the maximum revenue during 2018. The Government of KSA has been vigorously promoting ownership of residential properties in the country; therefore a greater demand for furniture is being derived from the residential furniture. The remaining market share was collectively captured by the hospitality and commercial segment in the year 2018.

Key Segments Covered:-

Market Structure

Organized Segment

Unorganized Segment

Material Used

Wood

Glass

Metal

Plastic

Others (Bamboo and MDP)

End Users

Residential Purpose

Bedroom Furniture

Beds

Beds without Storage

Beds with Storage

Size of Beds

Single Size Bed

Double Size Bed

Queen Size Bed

Material Used in Beds

Wood

Steel

Mattresses

Chests of Drawers

Wardrobe

Living Room Furniture

Sofa

Material Used in Sofa

Fabric

Leather

Sofa Seating Furniture

3+2 Seating

3+2+1+1 Seating

Other Seating Pattern

Coffee Table and Centre Table

Material Used in Coffee Table and Centre Table

Wood

Steel and Glass

Sofa cum Bed

Others (TV Cabinets and Stools)

Dining Table Furniture

Material Used in Dining Table

Wood

Others (Steel and Glass)

Seating Arrangement of Dining Table

< 6 Chairs

6-8 Chairs

8 Chairs

Type of Kitchen Furniture

Modular

Regular

Outdoor Furniture

Style of Residential Indoor Furniture

Modern and Contemporary

Traditional or Classic

Hospitality Furniture

Commercial

Type of Office Furniture

Workstation Desk

Office Chair

Conference Table

Corner Table

Office Storage

Key Target Audience

Furniture Retailers

Furnishings Retailers

Private Equity Companies

Contract Furniture Manufacturers

Furniture Association

Government Associations

Real Estate Developers

Time Period Captured in the Report:-

Historical Period: 2013-2018

Forecast Period: 2019-2023

Companies Covered

IKEA

Home Centre

Almutlaq Furniture

Al-Rugaib Furniture

Al Jedaie Office Furniture

El Ajou Group

Key Topics Covered in the Report:-

Furniture industry in the KSA

Saudi Arabia furniture market revenues in 2018

Furniture sector in KSA

Saudi Arabia Residential Furniture Market

KSA Furniture Market Analysis

Saudi Arabia Furniture Market Size

Saudi Arabia Furniture Manufacturers

Furniture for Sale in Saudi Arabia

Saudi Arabia Furniture Market Revenue

Saudi Arabia Furniture Retailers Market

Saudi Arabia Outdoor Furniture Market

Saudi Arabia Office Furniture Market

Office Furniture Market in Riyadh

Saudi Arabia Furniture Market

Saudi Arabia Furniture Industry

For Information Click On the Below Mentioned Link:-

Saudi Arabia Residential, Hospitality and Commercial Furniture Market Outlook

Related Reports by Ken Research:-

UAE Home Furniture and Furnishing Market Outlook to 2022 – By Living Room Furniture (Sofa, Sofa Cum bed, Other Sitting Furniture, Coffee Tables, Others), Bedroom Furniture (Bed, Mattresses, Wardrobes, Chest of Drawers), Dining Room, Home Office, Kitchen Furniture and Furnishing (Home Textile, Window Covering, Barbeques, Lightning Products)

Australia Furniture Market Outlook to 2022 – By Residential (Bedroom, Living Room, Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other Residential Furniture), Hospitality and Commercial Furniture, by Home Furnishing (Indoor, Outdoor and Lighting)

Philippines Furniture Market by Type (Home – Bed Room, Living Room, Dining Room, Kitchen Furniture; Office; Hotel & Industrial), by Sales (Domestic and Export) – Outlook to 2021

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

Sales@kenresearch.com

+91-9015378249

Leave a Reply

Your email address will not be published. Required fields are marked *