Saudi Arabia furniture market is anticipated to grow at CAGR of 7.95% through 2027 on account of increasing urbanization and changing lifestyles and preferences of consumers, and the increasing concept of smart furniture. Additionally, other factors such as increased purchasing power, and latest technology trends such as 3D printing which offers benefits such as creating lightweight furniture, simplification of prototypes of offices, homes, lab layouts, etc., are expected to further boost the Saudi Arabia furniture market during the forecast period.

 

Moreover, various foreign home interior platforms are expanding their services in the country, which is also a contributing factor in the increasing growth of this market. For instance, in 2021, Livspace, an Indian omnichannel home interior platform, expanded its services to Middle East, starting with Saudi Arabia, where it had formed a joint venture with the Alsulaiman Group (ASG). The company also announced a USD 25 million investment in the joint venture ASG, the county's operating partner for the Swedish furniture retailer Ikea.

 

Moreover, the growing hospitality sector is another major factor contributing to the growth of furniture market in Saudi Arabia at a higher rate. The country's tourism industry has seen growth, which has impacted its furniture market. According to the United Nations World Travel Organization (UNWTO) Barometer, Saudi Arabia experienced a startling +121% increase in international tourism in July 2022 compared to July 2019. Moreover, due to the rapid expansion of hotel development projects, furniture sales in the nation have surged. This factor is expected to continue to have a favorable effect on the expansion of the furniture market in the nation.

 

Rising Preference for Customized Furniture to Fuel the Market Growth

The market growth has been significantly influenced by Saudi Arabia's rising internet penetration, which reached around 97.9% in 2021. The young people of Saudi Arabia prefer to change the aesthetics of their homes by combining international furniture designs, using the internet's global furniture ideas to create their furniture. They are able to get customizations in the furniture according to their comfort and preferences. Therefore, the product and the environment develop uniqueness due to the customizations. Hence, this factor is expected to fuel the furniture market in the nation around the forecast period.

 

Rapid Change in Purchasing Pattern to Expand the Market Growth

The Saudi population is renewing their furniture more regularly these days, and therefore cycle of furniture replacement has gotten shorter with time. Due to yearly or every two years change in furniture, there is a greater demand for furniture products among consumers in the country. Also, consumers in Saudi Arabia spent around USD 50.95 million on furniture in the first week of July 2022. Furthermore, rising disposable income is also a factor prompting consumers to purchase furniture more frequently. This factor is expected to significantly contribute to the increasing demand of furniture in the country.

 

Rising Homeownership to Boost the Market Growth

Construction activity has increased significantly in the past few years in Saudi Arabia. Moreover, the Saudi Arabian government has started a number of initiatives to encourage home ownership and housing construction. This is encouraging individuals to purchase homes, which is fueling a rise in furniture sales across the nation. Furthermore, in order to encourage home ownership, several Saudi Arabian finance companies are now extending their benchmark mortgage maturity. For instance, The Saudi Real Estate Refinance Co (SRC) announced in 2021 that the benchmark for mortgages in the country had been extended to a 30-year duration. Mortgage lenders can supply affordable house finance faster due to the longer tenure, which encourages Saudi citizens to purchase houses. This factor will further drive the Saudi Arabia furniture market.




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Market Segmentation

The Saudi Arabia furniture market is segmented by type, raw material, point of sale, and region. The market is segmented into home furniture, hospitality & institutional furniture, and office furniture. The raw material segment is divided into wooden, metallic, plastic and others (bamboo, cane, etc.). The market is also split in terms of point of sale between offline and online.

 

Company Profiles

Arabian Furniture and Design Co., Al-Mutlaq Furniture Co (Saudi Arabia), IKEA Saudi Arabia. Ghassan Ahmed Al Sulaiman Furniture Trading Co. ltd, Midas Furniture Manufacturing L.L.C, Al Jedaie Office Furniture Company, Riyadh Furniture Industries Co., The Saudi Modern Factory Co., Al Jeraisy Furniture Factory, Al Sharq Al Masiya Trading Company, and Al-Makateb Co. Ltd. are some of the leading market players in the Saudi Arabia furniture market. New market players have also been actively entering the market in recent years, further strengthening future market growth.


Attribute

Details

Market Size Value in 2021

USD 5.94 Billion

Revenue Forecast in 2027

USD 9.35 Billion

Growth Rate

7.95%

Base Year

2021

Historical Years

2017–2020

Estimated Year

2022E

Forecast Period

2023F –2027F

Quantitative Units

Revenue in USD Billion, and CAGR for 2017-2021 and 2022E- 2027F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Raw Material

·         Point of Sale

·         Region

Regional Scope

Western, Northern & Central, Eastern, and Southern

Key Companies Profiled

Arabian Furniture and Design Co., Al-Mutlaq Furniture Co (Saudi Arabia), IKEA Saudi Arabia. Ghassan Ahmed Al Sulaiman Furniture Trading Co. ltd, Midas Furniture Manufacturing L.L.C, Al Jedaie Office Furniture Company, Riyadh Furniture Industries Co., The Saudi Modern Factory Co., Al Jeraisy Furniture Factory, Al Sharq Al Masiya Trading Company, and Al-Makateb Co. Ltd.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Saudi Arabia furniture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Furniture Market, By Type:
    • Home Furniture
    • Hospitality & Institutional Furniture
    • Office Furniture
  • Saudi Arabia Furniture Market, By Raw Material:
    • Wooden
    • Metallic
    • Plastic
    • Others

·         Saudi Arabia Furniture Market, By Point of Sale:

o   Offline

o   Online

  • Saudi Arabia Furniture Market, By Region:
    • Western
    • Northern & Central
    • Eastern
    • Southern 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia furniture market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Saudi Arabia Furniture Market

5.    Voice of Customers

5.1.  Respondent Demographics

5.2.  Factors Influencing Purchase Decision

5.3.  Sources of Information

6.    Saudi Arabia Furniture Market Outlook, 2017-2027

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type (Home Furniture, Hospitality & Institutional Furniture, Office Furniture)

6.2.2.    By Raw Material (Wooden, Metallic, Plastic, Others (Bamboo, Cane, etc.))

6.2.3.    By Point of Sale (Offline Vs. Online)

6.2.4.    By Region (Western, Northern & Central, Eastern, Southern)

6.2.5.    By Company (2021)

6.3.  Market Map (By Type, By Raw Material, By Point of Sale, By Region)

7.    Saudi Arabia Home Furniture Market Outlook, 2017-2027

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Product Type

7.2.2.    By Raw Material

7.2.3.    By Point of Sale

8.    Saudi Arabia Hospitality & Institutional Furniture Market Outlook, 2017-2027

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Product Type

8.2.2.    By Raw Material

8.2.3.    By Point of Sale

9.    Saudi Arabia Office Furniture Market Outlook, 2017-2027

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Product Type

9.2.2.    By Raw Material

9.2.3.    By Point of Sale

10. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Market Trends & Developments

12. Technology Trends

13. Policy & Regulatory Landscape

14. Import & Export Analysis

15. Upcoming Mega Projects in Saudi Arabia

16. SWOT Analysis

17. PORTER’s Five Forces Model

18. Saudi Arabia Economic Profile

19. Competitive Landscape

19.1.   Company Profiles

19.1.1.  Arabian Furniture and Design Co.

19.1.2. Al-Mutlaq Furniture Co (Saudi Arabia)

19.1.3. IKEA Saudi Arabia. Ghassan Ahmed Al Sulaiman Furniture Trading Co. ltd

19.1.4. Midas Furniture Manufacturing L.L.C

19.1.5. Al Jedaie Office Furniture Company

19.1.6. Riyadh Furniture Industries Co.

19.1.7. The Saudi Modern Factory Co.

19.1.8. Al Jeraisy Furniture Factory

19.1.9. Al Sharq Al Masiya Trading Company

19.1.10. Al-Makateb Co. Ltd.

20. Strategic Recommendations

21. About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

Figure 1: Saudi Arabia Furniture Market Size, By Value (USD Billion), 2017-2027F

Figure 2: Saudi Arabia Furniture Market Share, By Type, By Value, 2017–2027F

Figure 3: Saudi Arabia Furniture Market Share, By Raw Material, By Value, 2017–2027F

Figure 4: Saudi Arabia Furniture Market Share, By Point of Sale, By Value, 2017–2027F

Figure 5: Saudi Arabia Furniture Market Share, By Region, By Value, 2017–2027F

Figure 6: Saudi Arabia Furniture Market Share, By Company, By Value, 2021

Figure 7: Saudi Arabia Furniture Market Map, By Type, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 8: Saudi Arabia Furniture Market Map, By Raw Material, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 9: Saudi Arabia Furniture Market Map, By Point of Sale, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 10: Saudi Arabia Furniture Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 11: Saudi Arabia Home Furniture Market Size, By Value (USD Billion), 2017-2027F

Figure 12: Saudi Arabia Home Furniture Market Share, By Product Type, By Value, 2017–2027F

Figure 13: Saudi Arabia Home Furniture Market Share, By Raw Material, By Value, 2017–2027F

Figure 14: Saudi Arabia Home Furniture Market Share, By Point of Sale, By Value, 2017–2027F

Figure 15: Saudi Arabia Hospitality & Institutional Furniture Market Size, By Value (USD Billion), 2017-2027F

Figure 16: Saudi Arabia Hospitality & Institutional Furniture Market Share, By Product Type, By Value, 2017–2027F

Figure 17: Saudi Arabia Hospitality & Institutional Furniture Market Share, By Raw Material, By Value, 2017–2027F

Figure 18: Saudi Arabia Hospitality & Institutional Furniture Market Share, By Point of Sale, By Value, 2017–2027F

Figure 19: Saudi Arabia Office Furniture Market Size, By Value (USD Billion), 2017-2027F

Figure 20: Saudi Arabia Office Furniture Market Share, By Product Type, By Value, 2017–2027F

Figure 21: Saudi Arabia Office Furniture Market Share, By Raw Material, By Value, 2017–2027F

Figure 22: Saudi Arabia Office Furniture Market Share, By Point of Sale, By Value, 2017–2027F

Figure 23: Saudi Arabia Imports of Furniture's and their parts, By Value (USD Million), 2017-2021

Figure 24: Saudi Arabia Exports of Furniture's and their parts, By Value (USD Million), 2017-2021