“Rising number of furniture manufacturers and retail outlets, the surge in online retail activities, residential construction, an increasing number of hotels and resorts, rising ownership of residential properties and changing consumer preferences towards the furniture has driven the demand for KSA furniture market.”
Analysts at Ken Research in their latest publication “Saudi Arabia Residential, Hospitality, and Commercial Furniture Market Outlook to 2023 – By Bedroom Furniture (Beds, Mattresses, Wardrobes, and Chest of Drawers), By Living Room (Sofas, Sofa Cum Beds, Coffee Tables and Center Tables, TV Furniture and Stools, Dining Room, Kitchen, and Kids Furniture; By Commercial Furniture(Workstation Desks, Office Chair, Conference Table, Corner Table and Office Storage)” suggests that retailers should develop a strategic alliance with real-estate developers so as to provide them with furniture products for their upcoming projects in order to derive the benefits mutually.
Emergence of Foreign Players in the Market: The growing demand for furniture has elevated the scope for foreign players to sell their products in the Saudi Arabia market. Increase in the number of global players has led to a larger portfolio of products to choose from for the customers. A Swedish company, IKEA which entered the Saudi Arabia market in 1985 has established itself as a reputed brand known for both low cost and high-quality products.
Highly Competitive Environment of the Furniture Market of Saudi Arabia: The furniture market of Saudi Arabia has become highly competitive and fragmented. The domestic players are getting overshadowed by the offerings of global players characterized by high quality and low-cost product offerings which are often imported.
Changing Buying Pattern: The replacement cycle for furniture has decreased over the years because Saudi people change their furniture more often these days. Upgrading furniture once in every 2-3 years has increased the demand for furniture. Consumer Spending in Saudi Arabia increased to SAR 284.8 Billion in the first quarter of 2019 from SAR 282.2 Billion in the fourth quarter of 2018. Increasing disposable income of people has made them capable of upgrading and changing their furniture regularly. Kid’s furniture is on rising demand due to a short replacement cycle as a result of the growing age of children.
Growing Need for Customized Furniture: With the increase in internet penetration rate to 88.4% in 2018, people have got easy access to ideas. The young population of Saudi Arabia relies on global furniture ideas available on the internet to get their furniture customized. They prefer to adopt global furniture designs and bring a change in the aesthetics of their house. It does not only help them in saving a lot of money but also adds uniqueness to their house.
Key Segments Covered:-
Market Structure
Organized Segment
Unorganized Segment
Material Used
Wood
Glass
Metal
Plastic
Others (Bamboo and MDP)
End Users
Residential Purpose
Bedroom Furniture
Beds
Beds without Storage
Beds with Storage
Size of Beds
Single Size Bed
Double Size Bed
Queen Size Bed
Material Used in Beds
Wood
Steel
Mattresses
Chests of Drawers
Wardrobe
Living Room Furniture
Sofa
Material Used in Sofa
Fabric
Leather
Sofa Seating Furniture
3+2 Seating
3+2+1+1 Seating
Other Seating Pattern
Coffee Table and Centre Table
Material Used in Coffee Table and Centre Table
Wood
Steel and Glass
Sofa cum Bed
Others (TV Cabinets and Stools)
Dining Table Furniture
Material Used in Dining Table
Wood
Others (Steel and Glass)
Seating Arrangement of Dining Table
< 6 Chairs
6-8 Chairs
8 Chairs
Type of Kitchen Furniture
Modular
Regular
Outdoor Furniture
Style of Residential Indoor Furniture
Modern and Contemporary
Traditional or Classic
Hospitality Furniture
Commercial
Type of Office Furniture
Workstation Desk
Office Chair
Conference Table
Corner Table
Office Storage
Key Target Audience
Furniture Retailers
Furnishings Retailers
Private Equity Companies
Contract Furniture Manufacturers
Furniture Association
Government Associations
Real Estate Developers
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Companies Covered
IKEA
Home Centre
Almutlaq Furniture
Al-Rugaib Furniture
Al Jedaie Office Furniture
El Ajou Group
Key Topics Covered in the Report:-
Online Furniture Retailing KSA
Saudi Arabia Furniture Import Volume
Saudi Arabia Furniture Export Revenue
KSA Chests of Drawers and Wardrobe Market
Saudi Arabia Beds and Mattresses Market
KSA Coffee Table and Centre Table Market
KSA Sofa cum Bed Furniture Market Analysis
Wooden Furniture Market Saudi Arabia
Glass Furniture Market Saudi Arabia
KSA Residential Indoor Furniture Market
Pepper Fry Furniture Market in Saudi Arabia
Urban Ladder SWOT Analysis KSA
Office Furniture Market in Riyadh
Furniture industry of Saudi Arabia
For Information Click On the Below Mentioned Link:-
Saudi Arabia Residential, Hospitality and Commercial Furniture Market Outlook
Related Reports by Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
