Living Room Furniture - Africa

Africa

In 2024, the Living Room Furniture market in Africa is projected to generate a revenue of €5.58bn.
It is anticipated that the market will experience an annual growth rate of 2.33% (CAGR 2024-2029).
When compared globally, in the United States leads the way with a revenue of €67,070m in 2024.
In terms of per capita income, each person in Africa is expected to generate a revenue of €4.29 in 2024.
The demand for locally handmade wooden furniture in Africa's living room furniture market is steadily growing.

Key regions: China, Germany, Brazil, France, United States

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Living Room Furniture market in Africa is experiencing significant growth and development.

Customer preferences: African consumers have shown a growing interest in modern and stylish living room furniture. They are increasingly looking for furniture pieces that not only provide comfort but also enhance the aesthetic appeal of their living spaces. Customers in Africa are also seeking furniture that is durable and long-lasting, as well as easy to clean and maintain. Additionally, there is a growing demand for furniture that is eco-friendly and made from sustainable materials.

Trends in the market: One of the key trends in the Living Room Furniture market in Africa is the increasing popularity of online shopping. With the rapid expansion of internet access and the proliferation of smartphones, more and more consumers are turning to online platforms to purchase furniture. This trend is driven by the convenience and ease of online shopping, as well as the availability of a wide range of options and competitive prices. Another trend in the market is the rising demand for modular and multifunctional furniture. African consumers are increasingly living in smaller spaces, such as apartments and condos, and are therefore looking for furniture that can maximize the use of limited space. Modular furniture allows for flexibility and customization, while multifunctional furniture serves multiple purposes, such as providing storage or transforming into a bed.

Local special circumstances: The Living Room Furniture market in Africa is influenced by several local special circumstances. One of them is the cultural diversity across the continent. Different countries in Africa have their own unique cultural traditions and preferences when it comes to furniture. For example, in North Africa, there is a preference for furniture with intricate designs and patterns, while in West Africa, furniture with vibrant colors and bold prints is popular. These cultural preferences shape the demand for specific types of living room furniture in different regions.

Underlying macroeconomic factors: The development of the Living Room Furniture market in Africa is also influenced by underlying macroeconomic factors. Economic growth in many African countries has led to an increase in disposable income, allowing consumers to spend more on furniture. Rapid urbanization and a growing middle class have also contributed to the expansion of the market. Additionally, government initiatives to promote the manufacturing sector and attract foreign investment have further stimulated the growth of the furniture industry in Africa. In conclusion, the Living Room Furniture market in Africa is experiencing growth and development due to changing customer preferences, such as a preference for modern and stylish furniture, as well as the increasing popularity of online shopping. Local special circumstances, such as cultural diversity, also play a role in shaping the market. Underlying macroeconomic factors, including economic growth and urbanization, further contribute to the expansion of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.