Living Room Furniture - Angola

Angola

In Angola, the Living Room Furniture market generates a revenue of €237.00m in 2024.
It is projected to experience an annual growth rate of 4.76% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation with €67,070m in 2024.
Looking at the per capita figures, each person in Angola contributes €6.27 in revenue in 2024.
Angola's living room furniture market is seeing a surge in demand for locally crafted, sustainable pieces, reflecting a growing appreciation for traditional craftsmanship and eco-friendly design.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Living Room Furniture market in Angola is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: in the Living Room Furniture market in Angola are shifting towards modern and contemporary styles. Customers are increasingly looking for furniture that is sleek, functional, and aesthetically pleasing. This shift in preference is driven by the desire for a more modern and sophisticated living space. Additionally, customers are also placing importance on the quality and durability of the furniture, as they seek long-lasting investment pieces for their homes.

Trends in the market: are also contributing to the growth and development of the Living Room Furniture market in Angola. One of the key trends is the increasing demand for eco-friendly and sustainable furniture. Customers are becoming more conscious of the environmental impact of their purchases and are seeking furniture made from sustainable materials and manufactured using environmentally friendly processes. This trend is in line with global and regional market trends, as sustainability becomes a key consideration for consumers worldwide. Another trend in the market is the rise of online shopping for furniture. With the increasing availability of internet access and the convenience of online shopping, customers in Angola are turning to online platforms to purchase their living room furniture. This trend is driven by the ease of comparing prices and products, as well as the ability to access a wider range of options than what is available in physical stores. Online shopping also allows customers to have their furniture delivered directly to their homes, saving them time and effort.

Local special circumstances: in Angola also contribute to the development of the Living Room Furniture market. Angola has a growing middle class with increasing disposable income, which has led to a higher demand for furniture. Additionally, urbanization and the growth of cities in Angola have resulted in a higher demand for living room furniture as people move into new homes and apartments. These local circumstances create a favorable market environment for the growth of the Living Room Furniture market in Angola.

Underlying macroeconomic factors: also play a role in the development of the Living Room Furniture market in Angola. The overall economic growth and stability in Angola have led to increased consumer spending and confidence. As the economy continues to improve, customers have more purchasing power and are more willing to invest in high-quality living room furniture. Additionally, the government's efforts to attract foreign investment and promote economic diversification have also contributed to the growth of the market. Overall, the Living Room Furniture market in Angola is experiencing growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As customers in Angola continue to seek modern and sustainable furniture, and as online shopping becomes more popular, the market is expected to further expand in the coming years.

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.