Saudi Arabia Furniture Market (2023-2029) | Industry, COVID-19 IMPACT, Revenue, Forecast, Trends, Size, Outlook, Analysis, Value, Share, Companies & Growth

Topics Covered in the Saudi Arabia Furniture Market

Saudi Arabia Furniture Market report thoroughly covers the market by material types and applications. The market outlook report provides an unbiased and detailed analysis of the ongoing 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.

Saudi Arabia Furniture Market Synopsis

Saudi Arabia Furniture Market is anticipated to grow on the account of increasing. This growth can be attributed to various factors such as increasing urbanization, rising disposable income of households, and improved lifestyle trends in the country. Additionally, government initiatives related to encouraging investments in housing projects are also anticipated to drive market growth. Furthermore, rapid development of infrastructure across residential and commercial sectors has created a positive outlook for furniture demand from these segments over the forecast period. The introduction of modern technologies such as 3D printing in manufacturing processes is further estimated to boost sales of furniture products in the coming years.

According to 6Wresearch, the Saudi Arabia Furniture Market is projected to grow by 4.84% resulting in a market volume of US$10.67bn during the forecast period 2023-2029. The increasing urban population coupled with growing construction activities are driving demand for advanced and specialized furniture products like sofa sets, beds & mattresses, etc., thus providing an impetus for market growth. Moreover, rising investment by multinationals into residential projects is likely to fuel market expansion over the forthcoming years due to the rising availability of quality accommodation options that require premium-tier furnishings for interior design purposes. The increased purchasing power among end consumers has enabled them to access modernized furniture at relatively moderate prices compared with traditional offerings available in local markets or craftsman outlets, thus, leading to an increased adoption rate, especially among mid-segment households that form the majority share of total consumer base across Saudi Arabia landscape.

Government policies and schemes introduced in the Saudi Arabia Furniture Market 

The Saudi Arabian government has implemented various policies and initiatives which aim at bolstering growth and sustainability in the furniture market of the country. These policies include efforts to encourage local manufacturing, reduce dependence on imports, and promote economic diversification. The "Made in KSA" program, for instance, encourages the production of locally made furniture products by offering incentives and support to domestic manufacturers. Additionally, the government has introduced regulations and standards to ensure the safety and quality of furniture products, aligning with global quality benchmarks. Moreover, the Kingdom has undertaken urban development projects, including housing initiatives, which contribute to the demand for furniture. These government efforts collectively contribute to the growth and development of the Saudi Arabia Furniture Market while supporting the local economy and manufacturing sector.

The impact of COVID-19 on the Saudi Arabia Furniture Market

The COVID-19 pandemic had a significant impact on the Saudi Arabia Furniture Market. During the initial phases of the pandemic, lockdowns and movement restrictions temporarily disrupted retail operations, leading to decreased footfall in furniture stores and delays in housing projects. However, as consumers spent more time at home, there was an increased focus on home improvement and redecoration, driving a surge in demand for furniture and home furnishings. This demand was further boosted by the rise of remote work and e-learning, prompting many households to invest in ergonomic office furniture and study spaces. Additionally, e-commerce platforms witnessed remarkable growth as consumers turned to online shopping for furniture purchases, seeking convenience and safety. The pandemic accelerated digitalization and shifted consumer preferences, emphasizing the importance of adaptability and online presence in the furniture retail sector.

Leading players in the Saudi Arabia Furniture Market

In the Saudi Arabia Furniture Market, several leading players have established a prominent presence. International furniture giants such as IKEA, Home Centre, and Ashley Furniture HomeStore are prominent contributors, offering a wide range of furniture and home furnishing products. These global brands are known for their diverse styles, quality, and affordability, catering to a wide spectrum of consumers. Additionally, local retailers and manufacturers, like Almutlaq Furniture and SACO, play a significant role in the market, offering products tailored to the specific preferences and needs of the Saudi Arabian market. The competitive landscape is marked by a blend of global and local players, each contributing to the dynamic and evolving furniture retail sector in the Kingdom.

Market by Material types 

On the basis of material, the wood segment is expected to dominate the Furniture Market In Saudi Arabia on the account of its durability and aesthetic appeal. There is a strong cultural preference for wooden furniture in the region and there is major use of wood in traditional and classic furniture.

Market By Applications

According to Shivankar, Research Manager, 6Wresearch, the residential segment is expected to dominate the furniture market in Saudi Arabia. The high growth in the real estate sector, coupled with a growing population and urbanization, has augmented demand for residential furniture. Customers often prioritize the acquisition of furniture for homes, including bedrooms, living rooms, and dining areas.

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:

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

Saudi Arabia Furniture Market: FAQs