GCC Furniture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The GCC Furniture Market is segmented by Material (Wood, Metal, Plastic, and Other Materials), Application (Home Furniture, Office Furniture, Hospitality Furniture, and Other Applications), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Channels, and Other Distribution Channels), and Country (Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and the Rest of the GCC Countries)

Market Snapshot

GCC Furniture Market
Study Period: 2016 - 2026
Base Year: 2020
CAGR: >10 %

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Market Overview

The GCC furniture market is expected to witness strong growth during the forecast period, owing to factors, such as the rising population and increased construction activity. The furniture industry has become one of the most vibrant and fast-growing industries in the GCC region. The growing number of real estate developments and the increasing demand for residential properties, along with governmental initiatives to develop socio-economic infrastructure, are some of the major factors fuelling the demand for furniture products in the region.

Foreign players are also investing heavily in the region, either to increase their presence or to expand their businesses in these countries, thereby, further boosting the GCC region's furniture industry. Furniture consumption is also rising due to a positive trend in construction activity. This generates a demand for furniture, both for residential and non-residential uage. The local furniture production is relatively lesser in the GCC market, and thus, the region meets its requirements thorough the imports of foreign products. 

The countries in the GCC region are heavy importers of furniture, with the majority of the imports coming from countries, like China, Italy, Turkey, Germany, the United States, Poland, and Malaysia.

Saudi Arabia and the United Arab Emirates host the biggest furniture markets in the region, with the United Arab Emirates relying on re-exports of furniture products and Saudi Arabia relying completely on the domestic consumption of furniture products.

Scope of the Report

This report aims to provide a detailed analysis of the GCC furniture market. It focuses on the market dynamics, emerging trends in the segments and the regional markets, and insights into the various product and application types. It also analyzes the key players and the competitive landscape of the GCC furniture market.

By Material
Wood
Metal
Plastic
Other Materials
By Application
Home Furniture
Office Furniture
Hospitality Furniture
Other Applications
By Distribution Channel
Supermarkets and Hypermarkets
Specialty Stores
Online Channels
Other Distribution Channels
By Country
Saudi Arabia
United Arab Emirates
Kuwait
Qatar
Rest of GCC Countries

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Key Market Trends

Saudi Arabia is One of the Fastest-growing Furniture Markets in the GCC Region

Saudi Arabia has the largest construction market in the GCC region, accounting for nearly 33% of the total market share in the area. Due to the rising population and urbanization, the construction sector of the country is expanding. Increasing real estate development and the rising demand for residential properties in the region, along with the governmental initiatives to develop socio-economic infrastructure, are fuelling the growth of the furniture industry in Saudi Arabia. 

The continuous development of new housing units, coupled with a rise in the young and growing population of the country, is increasing the demand for furniture products. Additionally, urbanization and the development of the KSA's economy have generated a significant demand for furniture in the residential areas, hotels, offices, and industrial sectors. This is expected to grow further, in the coming years.

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The Expanding Construction Sector is Driving the Market

The real estate sector has a significant effect on the furniture industry. The GCC region hosts one of the fastest-growing real estate markets across the world. Demographic changes, hosting of mega-events, tourism, and the influx of expatriates over the last few years are some of the major growth drivers for the real estate sector. Although the GCC region may have witnessed an economic slowdown, due to fluctuations in the oil market, the region is still witnessing increased investments.

Due to the increase in real estate activities in the region, the construction sector is expanding rapidly, mainly being driven by government-backed investments. The construction industry is witnessing a growth rate of nearly 5%, Y-o-Y, in the region, with increasing residential and commercial property developments. This rapid expansion in the construction sector will boost the demand for furniture products.

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Competitive Landscape

The market is highly competitive and comprises both local and international players. The market is fragmented, with the presence of players, such as IKEA, Pan Emirates, Home Center, Homes R Us, Royal Furniture, and Danube. Most of the furniture products in the country, such as home furniture products, are primarily imported and retailed through large-format showrooms, like IKEA. The furniture producers are slowly making their way through online retailing, across the GCC region. Some of the online furniture stores in the region are Ebarza, The Bowery Company, HomeBox, and LifeInteriors.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Insights on Regulatory Analysis on Furniture Products

    2. 4.2 Insights on Consumer Behavior Analysis on Furniture Products

    3. 4.3 Insights on Key Trends and Innovations in the Furniture Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Overview

    2. 5.2 Market Drivers

    3. 5.3 Market Restraints

    4. 5.4 Opportunities

    5. 5.5 Industry Value Chain Analysis

    6. 5.6 Porter's Five Forces Analysis

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Material

      1. 6.1.1 Wood

      2. 6.1.2 Metal

      3. 6.1.3 Plastic

      4. 6.1.4 Other Materials

    2. 6.2 By Application

      1. 6.2.1 Home Furniture

      2. 6.2.2 Office Furniture

      3. 6.2.3 Hospitality Furniture

      4. 6.2.4 Other Applications

    3. 6.3 By Distribution Channel

      1. 6.3.1 Supermarkets and Hypermarkets

      2. 6.3.2 Specialty Stores

      3. 6.3.3 Online Channels

      4. 6.3.4 Other Distribution Channels

    4. 6.4 By Country

      1. 6.4.1 Saudi Arabia

      2. 6.4.2 United Arab Emirates

      3. 6.4.3 Kuwait

      4. 6.4.4 Qatar

      5. 6.4.5 Rest of GCC Countries

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Market Competition - Overview

    2. 7.2 Company Profiles

      1. 7.2.1 IKEA

      2. 7.2.2 Home Centre

      3. 7.2.3 Royal Furniture

      4. 7.2.4 Homes R Us

      5. 7.2.5 ID design

      6. 7.2.6 Luxe Living

      7. 7.2.7 Natuzzi

      8. 7.2.8 Al Huzaifa

      9. 7.2.9 Riyadh Furniture Industries

      10. 7.2.10 Delmon Interiors & Furniture Factory

      11. 7.2.11 Fahmy Furniture

      12. 7.2.12 AL Mutlaq

      13. 7.2.13 Ebarza

      14. 7.2.14 HomeBox

      15. 7.2.15 LifeInterios

      16. 7.2.16 PAN Emirates

      17. 7.2.17 Danube Home

      18. 7.2.18 Midas

    3. *List Not Exhaustive
  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

  9. 9. APPENDIX

  10. 10. DISCLAIMER

**Subject to Availability

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Frequently Asked Questions

The GCC Furniture Market market is studied from 2016 - 2026.

The GCC Furniture Market is growing at a CAGR of >10% over the next 5 years.

Royal Furniture, Homes R Us, IDdesign, Al Huzaifa, Riyadh Furniture Industries are the major companies operating in GCC Furniture Market .

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