Report Description

UAE home furniture market is anticipated to witness potential growth in the forecast period, 2023-2027. Furniture is considered as a significant element of home décor. It aids with basic daily functions such as eating, sitting, and sleeping. It is highly movable product, has numerous applications, and can be customized to meet the needs of end-users through machine-based processing or handcrafting. To fulfil the requirements of the customers, businesses are constantly developing modified and customized products. Ready-to-assemble (RTA) furniture is gaining traction among homeowners and renters, owing to the lower costs and compact designs which propels the market growth. RTA furniture, also known as flat-pack furniture, is not assembled by the manufacturer and is available in parts, with instructions on how to assemble it. Continuous technological advancements and product innovations, mid-size and smaller companies in the country are expanding the market presence, by securing new contracts and tapping into new markets. E-commerce is also supporting the market growth and there are many e-commerce giants such as Amazon, Wayfair, and Home Depot provide a wide range of furniture products from many key brands as a part of their product portfolio.

Increasing Number of Sales of Bedroom Furniture is Bolstering the Market Growth

The escalating demand for multifunctional furniture is projected to stimulate the market growth. The real estate prices have plummeted significantly which resulted into a considerable reduction in house sizes. As rooms are getting smaller these days, customers are increasingly looking for furniture that is compact and easily movable to enable for efficient use of the available space. To meet such kind of requirements; the vendor organizations have introduced multifunctional furniture with storage facilities. Numerous beds that have included additional storage spaces are gaining more prominence across UAE. The inflating need for convertible furniture in the country which has functionality beyond traditional furniture use. All these factors support the market growth.

Growing Consumer Expenditure on Furniture Products is Fuelling the Market Growth

With the rising number of consumers shifting their preference towards quality and stylish furniture products on account of the inflating disposable income levels and better lifestyle requirements, is significantly propelling the growth of the home furniture market. Along with this, the expanding domestic furniture sales and international furniture exports are among the significant growth-inducing factors. The growing average annual expenditure on furniture per consumer unit has increased which is reflecting the healthy growth of the market. This, in turn, is projected to drive the growth of the home furniture market across UAE in the forecast period.

Enhancing Global Living Standards is Expected to Boost the Market Growth

The escalating demand for home furniture, on account of the growing population and the elevating levels of urbanisation across UAE region is primarily accelerating the growth of the market. This is leading to the extensive investments in infrastructure renovation activities and the higher rate of adoption of aesthetic furniture solutions among consumers are fuelling the growth of the market. Furthermore, the inflating disposable income levels and enhanced living standards are also propelling the consumers to invest in household décor enhancement solutions. All these factors are expected to aid the market growth in the upcoming years.