Saudi Arabia Furniture Market Overview, 2028

Saudi Arabia Furniture Market Overview, 2028
The furniture market in Saudi Arabia stands as a vibrant and rapidly evolving sector, mirroring the kingdom's dynamic socio-economic landscape and its ambitious Vision 2030 initiative. With a population marked by a burgeoning middle class, rapid urbanization, and a blend of cultural traditions and modern aspirations, the Saudi Arabian furniture market is in the midst of a transformative journey. As Saudi Arabia diversifies its economy and invests in sectors beyond oil, the demand for home and office furnishings has surged, driven by a combination of factors including increased disposable incomes, urban development projects, and a growing affinity for innovative and stylish living spaces. From the intricate craftsmanship that honors the country's rich heritage to the incorporation of cutting-edge designs that embrace global trends, the furniture industry in Saudi Arabia presents a captivating blend of tradition and modernity. As the nation positions itself as a prominent hub for business, tourism, and cultural exchange, the furniture market embodies a reflection of the changing lifestyles, preferences, and aspirations of a dynamic society on the cusp of redefining its domestic living and commercial spaces. Saudi Arabia has been hosting various events, exhibitions, and trade shows related to the furniture industry. These events provide platforms for manufacturers, designers, suppliers, and consumers to showcase and explore the latest trends, innovations, and products in the furniture sector. Furniture-related events that have been held in Saudi Arabia include the Saudi International Furniture, Interior Design, and Home Accessories Expo (SAUDI FF&E Expo): This annual event showcases a wide range of furniture, interior design, and home accessories. It brings together local and international exhibitors and provides a platform for networking, business opportunities, and exploring the latest design trends.

According to the research report ""Saudi Arabia Furniture Market Overview, 2028,"" published by Bonafide Research, the Saudi Arabia furniture market is projected to reach a market size of more than USD 9 billion by 2028. Saudi Arabia's Vision 2030 initiative aims to diversify the economy and reduce its dependence on oil. As the country invests in sectors such as tourism, entertainment, and real estate, there is a surge in construction and development projects that fuel the demand for furniture in commercial and residential spaces. Furthermore, Saudi Arabia is investing heavily in its tourism and hospitality sectors, leading to a rise in hotel and resort developments. These establishments require well-furnished accommodations and public spaces, contributing to the demand for furniture. As lifestyles evolve, there is an increasing emphasis on creating comfortable and aesthetically pleasing living spaces and workspaces. This drives the demand for a variety of furniture styles and designs. Government support for local manufacturing and design industries can contribute to the growth of the domestic furniture market. Traditional Arabian design elements and craftsmanship continue to influence furniture aesthetics, creating a unique blend of heritage and modernity. Based on the material types, they include wood, metal, plastic, glass, and others. Among them, the wood material types are leading the market with the highest market share. Wood furniture exudes a timeless and natural aesthetic that resonates with consumers who appreciate the warmth, elegance, and organic feel it brings to their living and working spaces. Wood is often associated with quality, durability, and a sense of luxury. Consumers seeking upscale and elegant furniture options are naturally drawn to wood for its premium appearance and reputation.

Product types include beds, tables and desks, sofas and couches, chairs and stools, cabinets and shelves, and others. In Saudi Arabia, tables and desks are a growing market in the furniture market. The rise of e-learning and online education has created a need for study spaces at home. Students and professionals alike require well-equipped tables and desks to support their learning and work activities. As urban areas become more densely populated, there's a growing emphasis on space optimization. Compact and multifunctional tables and desks that fit smaller living spaces are becoming increasingly popular. Modern interior design trends in Saudi Arabia often focus on creating stylish and organized living spaces. Well-designed tables and desks contribute to an aesthetically pleasing and functional home environment. Based on the category types, which include outdoor and indoor furniture, among them, indoor furniture has the highest market share. Saudi Arabia has a hot desert climate with extremely high temperatures, particularly during the summer months. The harsh climate makes outdoor living less common and less comfortable for a significant portion of the year, leading to a reduced demand for outdoor furniture. Furthermore, the preference for indoor activities, such as socializing, dining, and relaxation, contributes to the popularity of indoor furniture. Air-conditioned indoor spaces provide a more comfortable and controlled environment for these activities.

Based on the application segment, which includes residential, office, hotel, and others (hospital furniture), among them, the residential segment is leading the market with the highest market share. Many urban areas in Saudi Arabia have a high population density, leading to limited outdoor spaces. This factor, coupled with the climate, may discourage outdoor activities and the use of outdoor furniture. Furthermore, based on the distribution channel, which includes specialty stores, supermarkets, hypermarkets, online retailers, and others, among them, specialty stores are leading the market. Specialty stores provide a more personalised and tailored shopping experience compared to larger retail chains. Consumers can receive expert advice, guidance, and recommendations from knowledgeable staff that specialise in a specific type of furniture or design style. There are several specialty stores, including luxury furniture boutiques, antique and vintage furniture shops, and many more.

Considered in this report

• Geography: Saudi Arabia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Saudi Arabia Furniture with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Material

• Wood
• Metal
• Plastic
• Glass
• Others

By product

• Beds
• Tables & Desks
• Sofa & Couch
• Chairs & Stools
• Cabinets & Shelves
• Other

By Category

• Indoor
• Outdoor

By Application

• Residential
• Office
• Hotel
• Others (Hospital Furniture)

By Distribution Channel

• Specialty Stores (Traditional Stores, Branded Furniture/Flagships Stores, Lifestyle Stores, Home Centers)
• Supermarkets and Hypermarkets (Department Stores, Discount Department Stores)
• Online
• Others (Office Supply Stores, Buying Through a Designer)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Furniture industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.