Living Room Furniture - Kenya

Kenya

In Kenya, the revenue generated in the Living Room Furniture market in 2024 amounts to €199.00m.
It is projected that the market will experience an annual growth rate of 2.42% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, amounting to €67,070m in 2024.
In terms of per person revenues, in Kenya generates €3.54 in 2024.
The demand for locally made, eco-friendly living room furniture is on the rise in Kenya, as consumers prioritize sustainability and supporting local artisans.

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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Living Room Furniture market in Kenya is experiencing significant growth and development, driven by various factors such as changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: in the Living Room Furniture market in Kenya are shifting towards modern and contemporary designs, as consumers seek furniture that is both stylish and functional. There is a growing demand for furniture that is space-saving and multi-functional, as many consumers in Kenya live in small apartments or houses. Additionally, customers are increasingly looking for furniture that is eco-friendly and sustainable, reflecting a growing awareness of environmental issues. Trends in the market include the rising popularity of online shopping for furniture, as consumers in Kenya are becoming more comfortable with making purchases online. This trend is supported by the increasing availability of online retailers and the convenience of home delivery. Another trend is the growing demand for customized furniture, as consumers seek unique and personalized pieces that reflect their individual style and taste.

Local special circumstances: in Kenya also contribute to the development of the Living Room Furniture market. Kenya has a rapidly growing middle class, which has led to an increase in disposable income and a higher demand for luxury and high-quality furniture. Additionally, the urbanization rate in Kenya is increasing, with more people moving to cities and urban areas. This has created a need for furniture that is suitable for smaller living spaces and apartments. Underlying macroeconomic factors also play a role in the development of the Living Room Furniture market in Kenya. The country's stable economic growth and rising gdp per capita have contributed to an increase in consumer spending power. Additionally, the government's efforts to promote the manufacturing sector and attract foreign investment have led to the establishment of furniture manufacturing companies in Kenya, creating job opportunities and boosting the local industry. In conclusion, the Living Room Furniture market in Kenya is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and

Underlying macroeconomic factors:. The market is driven by a demand for modern and functional furniture, the rising popularity of online shopping, the need for customized pieces, the growing middle class, urbanization, and the stable economic growth of the country.

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.