Furniture - Morocco

Morocco

In 2024, the Furniture market in Morocco is projected to generate a revenue of €468.80m.
It is expected to experience an annual growth rate of 1.24% (CAGR 2024-2029).
Among the various segments within the market, the largest one is the Living Room Furniture segment, which is estimated to have a market volume of €152.60m in 2024.
When compared globally, in the United States leads in terms of revenue generation in the Furniture market, with an estimated revenue of €242bn in 2024.
In terms of per capita revenue, the Furniture market in Morocco is projected to generate approximately €12.27 per person in 2024.
This indicates the amount of revenue generated in relation to the total population of the country.
Moroccan consumers are increasingly drawn to handcrafted furniture pieces that showcase traditional Moroccan design elements.

Key regions: Worldwide, United States, China, India, Germany

Definition:

The Furniture market covers different movable objects designed to support various human activities such as sitting, sleeping, and storing items. These objects can include chairs, tables, beds, couches, and cabinets, among others. The design and layout of furniture can have a significant impact on the comfort and functionality of a space, making it an important aspect of interior design and home decor.

Structure:

The Furniture market is divided into seven segments:

The Living Room Furniture segment focuses on furnishings such as sofas, side tables, and media cabinets typically found in the living room. This segment is divided into the following subsegments: Seats & Sofas and Cabinets, TV Stands & Side Tables.
The Bedroom Furniture segment covers furnishings and other accessories used for sleeping and the storage of clothing and other personal items. This segment is divided into the following subsegments: Beds, Mattresses, Closets, Nightstands, & Dressers, and Bedding.
The Kitchen & Dining Furniture segment covers a diverse range of products that are used to meet people’s eating, food storage and preparation needs. This segment is divided into the following subsegments: Kitchenware and Dining Tables, Kitchen Islands & Pantries.
The Outdoor Furniture segment covers products specifically designed to withstand exposure to the elements, such as rain, sun, and wind, and is often made from materials that are weather-resistant.
The Home Office Furniture segment focuses on products that ensure a good working environment at home compared to that of a traditional office. This segment is divided into the following subsegments: Desks & Chairs and Bookcases & Filing Cabinets.
The Lamps & Lighting segment covers various devices and fixtures that provide illumination in a space. This segment is divided into the following subsegments: Table & Floor Lamps, Ceiling Lights & Chandeliers, and Light Bulbs & Fittings.
The Home Décor segment covers a variety of accessories and furnishings designed to make a space more aesthetically appealing. This segment is divided into the following subsegments: Decorations, Carpets & Rugs, Candles, and Curtains & Blinds.

Additional Information:

The Furniture market consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This market includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Furniture market in Morocco has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on functionality and space-saving solutions. Additionally, there has been a growing demand for eco-friendly and sustainable furniture options.

Customer preferences: in the Furniture market in Morocco have evolved in line with global trends. Consumers are increasingly looking for furniture that not only serves its basic purpose but also adds aesthetic value to their homes. This has led to a rise in demand for modern and contemporary furniture designs that are sleek, minimalist, and versatile. Moroccan consumers are also placing a strong emphasis on functionality, with a preference for multi-purpose furniture that can serve multiple functions and save space in smaller living areas. In addition to aesthetics and functionality, there has been a growing demand for eco-friendly and sustainable furniture options in Morocco. As consumers become more conscious of their environmental impact, they are seeking out furniture made from sustainable materials and produced using environmentally friendly manufacturing processes. This trend is in line with global efforts to reduce carbon emissions and promote sustainability in all industries. The Furniture market in Morocco is also influenced by local special circumstances. Traditional Moroccan furniture designs, such as intricately carved woodwork and vibrant upholstery, continue to be popular among locals and tourists alike. This traditional craftsmanship adds a unique touch to Moroccan homes and is often passed down through generations. Additionally, the tourism industry in Morocco has been growing steadily, leading to an increase in demand for furniture in hotels, resorts, and other accommodation facilities. Underlying macroeconomic factors have also contributed to the growth of the Furniture market in Morocco. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income for many households. This has allowed consumers to invest more in home furnishings and decor, including furniture. Additionally, the government has implemented policies to promote the manufacturing and export of furniture, which has further stimulated the market. Overall, the Furniture market in Morocco is experiencing growth due to changing customer preferences,

Local special circumstances: and

Underlying macroeconomic factors:. The shift towards modern and contemporary designs, the demand for eco-friendly options, and the influence of traditional Moroccan craftsmanship are all contributing to the market's development. With the continued economic growth and government support, the Furniture market in Morocco is expected to continue its upward trajectory 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.