Ghana Furniture Market (2023-2029) | Share, Analysis, Trends, Growth, Outlook, Revenue, Size, Industry, Value, Segmentation & COVID-19 IMPACT

Topics Covered in the Ghana Furniture Market

Ghana Furniture Market report thoroughly covers the market by material types, and by applications. The Furniture Market Outlook report provides an unbiased and detailed analysis of the ongoing Furniture Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Ghana Furniture Market Synopsis

Ghana Furniture Market is boosting in the country at a tremendous rate due to the growing population rate and rapid urbanization coupled with the rising middle-class population with the increasing disposable incomes. However, some challenges including, the high cost of raw materials coupled with no access to raw materials depend on manufacturers on imported items which cost expensive and unaffordable to manufacturers.  Despite the challenges, some ongoing trend such as rising eco-friendly furniture demand is burgeoning the market growth.

According to 6Wresearch, the Ghana Furniture Market size is estimated to secure exponential growth during 2023-2029. The market is boosted backed by the rising middle-class population in the country with the growing disposable incomes that enable the population to buy premium quality furniture. Additionally, the improving economic growth leads to an increased income level of the population which enables them to spend on purchasing excellent quality furniture. Also, the increasing population growth and shifting of the population from rural to urban areas are resulting in a rise in the demand for household furniture from the residential sector. The growing construction activities in the residential and commercial sectors are estimated to accelerate the furniture demand, which will result in the surge of the Ghana furniture market growth in the country. On the other hand, Lack of access to raw materials, high production cost, and high taxes & duties on imported raw materials which enable manufacturers to afford and compete with foreign brands supplying furniture at a low cost. However, one of the latest trends in the Ghana furniture industry is estimated to surging market growth due to the changing awareness towards sustainable and eco-friendly furniture products. Both consumers and businesses are becoming aware of using furniture materials made from recycled materials.

COVID-19 Impact on the Ghana Furniture Market

The COVID-19 Pandemic caused interference in the supply of furniture products owing to a complete lockdown in the country. Also, the pandemic led to reducing the demand for furniture, particularly by the closure of the hospitality, commercial, and tourism sectors. On the other hand, some opportunities in the Ghana furniture market were seen from the residential sector, as work from home increased which further led to an increase in the demand for furniture. Hence, the overall impact on the Ghana Furniture Market share declined in the country during the COVID-19 phase. 

Key Players in the Ghana Furniture Market

Some are the major key players operating in the market in the country include:

• Silver Star Furniture: Silver Star Furniture is a well-known manufacturer and supplier of premium quality furniture items in Ghana.
• Woodgal Interiors: Woodgal Interiors is one of the leading manufacturers and suppliers of contemporary furniture in the country.
• Papa Korsah & Sons Ltd.: Papa Korsah & Sons Ltd is one of the renowned manufacturers in the country over the past years.
• Gifty’s Home Decor Centre: Gifty’s Home Decor Centre is a well-known manufacturer and supplier of top-notch furnishing items which include a wide range of furniture designs.

Market Analysis by Material Types

According to Shivankar, Research Manager, 6Wresearch, Wood is the leading material which is being used to manufacture furniture, with wood has been a traditional choice when it comes to manufacturing furniture. Wide range of wooden furniture’s still gaining traction in the country.

Market Analysis by Applications

Based on the applications, both the sectors including residential and commercial are experiencing growth, nevertheless, the commercial sector is likely to gain high market revenue underpinned by the increasing construction activities in the commercial sector leading to an increase in the furniture demand.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Ghana Furniture Market Outlook
• Market Size of Ghana Furniture Market, 2022
• Forecast of Ghana Furniture Market, 2029
• Historical Data and Forecast of Ghana Furniture Revenues & Volume for the Period 2019 - 2029
• Ghana Furniture Market Trend Evolution
• Ghana Furniture Market Drivers and Challenges
• Ghana Furniture Price Trends
• Ghana Furniture Porter's Five Forces
• Ghana Furniture Industry Life Cycle
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Material Types for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Plastic for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Wood for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Metal for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Other for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Applications for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Residential for the Period 2019 - 2029
• Historical Data and Forecast of Ghana Furniture Market Revenues & Volume By Commercial for the Period 2019 - 2029
• Ghana Furniture Import Export Trade Statistics
• Market Opportunity Assessment By Material Types
• Market Opportunity Assessment By Applications
• Ghana Furniture Top Companies Market Share
• Ghana Furniture Competitive Benchmarking By Technical and Operational Parameters
• Ghana Furniture Company Profiles
• Ghana Furniture Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Material Types

• Plastic
• Wood
• Metal
• Other

By Applications

• Residential
• Commercial